Exactech's new chapter: Court confirms restructuring and asset sale

Exactech, a global medical technology leader, announced court confirmation of its restructuring plan and approval of the sale of its assets to a new ownership group.

The approved sale enables the company's new owners – which includes Strategic Value Partners LLC, Stellex Capital Management LLC, and Greywolf Capital Management LP – to acquire substantially all of the company's operations and assets. With this milestone, the company begins to move past the restructuring process, with customary closing steps for the sale to be completed over the coming weeks.

Following the close of the transaction, the new company will be strategically positioned to execute its mission to be the leading surgeon partner in orthopedics. Along with its team of dedicated employees, proven product lines such as the Equinoxe Shoulder; Vantage Ankle; Alteon and Spartan Hip; Truliant, Triverse, and Newton Knee; and GPS navigation will transfer to the new company, as well as engineering and manufacturing expertise and product data gathered over 40 years.

"We are excited to work together to focus on the new company's quality imperative, its commitment to innovation, and its goal of being the most trusted partner to orthopedic surgeons," said Clara Anderson, SVP Managing Director. "Our team will continue to invest in the new company and accelerate opportunities to drive innovation and growth in order to give patients greater mobility and empower surgeons with the products, technologies and support they need to be successful."

The new company will be led by its incoming CEO, Aurelio Sahagun, as well as a Board of Directors that will provide oversight of the new company's strategy and governance.