Exactech (NSDQ:EXAC) announced that it acquired its independent distribution partner, Exactech Italia, creating a new corporate subsidiary.
The acquisition was made official yesterday and includes all shares of the Brescia, Italy-based importer and distributor of Gainesville, Fla.-based Exactech’s orthopedic implants, instrumentation and advanced surgical technologies.
Financial terms of the agreement were not disclosed but it marks the eighth global market entered by Exactech, with distribution in more than 35 different countries.
Exactech Italia employs both distribution and sales professionals whose roles include providing products through independent agencies throughout the country, according to a news release.
“Exactech Italia has been a key strategic partner for the past eight years, distributing our knee, hip and shoulder replacement systems, as well as our ExactechGPS computer-assisted surgery technology,” Exactech SVP of global sales Stuart Kleopfer said in the release. “We look forward to expanding our investment in the new subsidiary with an even broader portfolio of products over the coming years.”
“We are eager to integrate the Exactech Italia team into our corporate structure under the continued leadership of Marco Migliori,” added Exactech VP of international sales & market development Daniel Berdat. “Going direct will allow us to provide even greater service to our customers in this important market.”
This announcement comes on the back of news earlier this week that results from 10 new studies highlighted the benefit of Exactech’s knee and shoulder implants. The company also announced the successful first surgeries involving its Truliant total knee arthroplasty device.
