Exactech announced today that it selected Aurelio Sahagun to serve as CEO following the closing of the sale of the company’s assets.
A group of investors in March put forth the winning bid to acquire substantially all of Exactech’s operations and assets. That investor group included SVP, Stellex Capital Management LLC and Greywolf Capital Management LP.
Gainesville, Florida-based Exactech began the asset sale process last October as it entered a court-supervised Chapter 11 bankruptcy restructuring process. The restructuring included an $85 million financing commitment to maintain operations during the process. This allowed Exactech to continue its orthopedic device operations and partnerships with surgeons.
Ahead of the completion of this sale, Sahagun succeeds CEO Darin Johnson. Johnson intends to assist in the transition and assume a strategic advisory role for the new company.
“I’m excited to pass the baton to Aurelio following the company’s successful closing of the sale to new ownership,” said Johnson. “Aurelio is well-equipped to lead the new company with his vast experience in driving excellent results for innovative medical devices and implants. I am impressed by Aurelio’s people-first approach that is highly consistent with Exactech’s culture and core values.
“It’s been a great honor to lead Exactech for the past six years, following over two decades at the company working alongside our impressive team providing innovative products for our surgeon partners and patients, and I am confident Aurelio is the right leader for the new company.”
More about new Exactech CEO Aurelio Sahagun
Sahagun offers more than 20 years of experience in the medical device industry. He brings expertise in guiding innovative medical device products from development to distribution with enhanced financial outcomes.
Most recently, Sahagun served as president, North America at the Straumann Group, a leader in orthodontic solutions and implants. There, he helped drive double-digit annual sales growth and a significant increase in the segment’s profitability, Exactech says.
Before that, he served as president of Microport Orthopedics. Additionally, Sahagun held leadership positions at other medical device companies, including Write Medical (acquired by Stryker) and Medtronic.
“I’m thrilled to join the company at this important juncture,” said Sahagun. “The people, products and culture that have been cultivated throughout the company’s 40-year history are recognized across the industry and will bolster the mission and success of the ‘new Exactech’. I’m looking forward to working with the team to execute on our strategic priorities upon emergence, including driving the continued success of the impressive product portfolio and maintaining strong financial performance as a new company.
“I would echo Darin’s sentiment that the Exactech team brings unmatched industry-knowledge, dedication and enthusiasm, and I know we will continue to facilitate improved outcomes for surgeons and their patients as an even stronger new company for years to come.”
