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Exactech announced a critical milestone in its restructuring process whereby a group of investors – including funds managed by Strategic Value Partners and Stellex Capital Management – has been designated as the winning bidder to acquire substantially all of Exactech’s assets. The company is scheduled to present the sale for court approval on March 27 with closing expected in May, subject to regulatory approval, enabling Exactecg to emerge from its restructuring process with an improved balance sheet and stronger foundation.
The private equity and alternative asset management firms comprising the investor group collectively have more than $25 billion in assets under management and extensive operational expertise in the medical technology and device manufacturing industries. The investor group has supported Exactech through the restructuring process, including by committing over $100 million of additional financing to fund the Company’s operations.
“Since initiating the restructuring process several months ago, Exactech has continued to deliver on our commitment to develop and provide high-quality medical devices and technologies to orthopedic surgeons and patients,” said Darin Johnson, Exactech President and CEO. “We are thrilled an investor group that knows Exactech well and which recognizes the strength of our team, our surgeon relationships and our product portfolio, has been formally designated as the winning bidder. We look forward to partnering with them to strengthen our company further, drive groundbreaking advancements and enhance our ability to deliver quality products that empower surgeons and improve patient outcomes worldwide.”
Source: Exactech
Exactech announced a critical milestone in its restructuring process whereby a group of investors – including funds managed by Strategic Value Partners and Stellex Capital Management – has been designated as the winning bidder to acquire substantially all of Exactech's assets. The company is scheduled to present the sale for court approval on...
Exactech announced a critical milestone in its restructuring process whereby a group of investors – including funds managed by Strategic Value Partners and Stellex Capital Management – has been designated as the winning bidder to acquire substantially all of Exactech’s assets. The company is scheduled to present the sale for court approval on March 27 with closing expected in May, subject to regulatory approval, enabling Exactecg to emerge from its restructuring process with an improved balance sheet and stronger foundation.
The private equity and alternative asset management firms comprising the investor group collectively have more than $25 billion in assets under management and extensive operational expertise in the medical technology and device manufacturing industries. The investor group has supported Exactech through the restructuring process, including by committing over $100 million of additional financing to fund the Company’s operations.
“Since initiating the restructuring process several months ago, Exactech has continued to deliver on our commitment to develop and provide high-quality medical devices and technologies to orthopedic surgeons and patients,” said Darin Johnson, Exactech President and CEO. “We are thrilled an investor group that knows Exactech well and which recognizes the strength of our team, our surgeon relationships and our product portfolio, has been formally designated as the winning bidder. We look forward to partnering with them to strengthen our company further, drive groundbreaking advancements and enhance our ability to deliver quality products that empower surgeons and improve patient outcomes worldwide.”
Source: Exactech
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JV
Julie Vetalice is ORTHOWORLD's Editorial Assistant. She has covered the orthopedic industry for over 20 years, having joined the company in 1999.
