Exactech announces acquisition of minimally invasive spine product portfolio from VertiFlex

Exactech, Inc. (NASDAQ:EXAC), a developer and producer of bone and joint restoration products for hip, knee, shoulder, spine and biologic materials, announced today the acquisition of several innovative spine product lines and all related technology from VertiFlex, Inc. a leading developer of minimally invasive and motion preserving spinal surgery technologies.

“With these important additions to our portfolio, Exactech becomes one of the few companies in the spine industry with products implanted through a surgical approach designed to reduce the length of hospital stays and shorten overall patient rehabilitation times”

Included in the acquisition are the Silverbolt Percutaneous Pedicle Screw System and related assets.

Exactech Senior Vice President and Spine Division General Manager Bruce Thompson said, "The minimally invasive VertiFlex products and technologies fit well with the current Exactech spine product portfolio, which includes a range of cervical and lumbar fusion product solutions.

"The Silverbolt MIS Fusion Platform offers a significant new approach to minimally invasive spine surgery. It allows for delivery of a rod into the pedicle screws in a straightforward step with no additional incisions. The proprietary design of the Silverbolt platform ensures precise alignment even in the more difficult L5-S1 cases, while assuring accuracy of the rod delivery during a minimally invasive procedure. The Silverbolt System also supports a mini-open approach through VertiFlex's unique Oracle Expandable Retractor to aid in the implantation of an interbody fusion cage.

"With these important additions to our portfolio, Exactech becomes one of the few companies in the spine industry with products implanted through a surgical approach designed to reduce the length of hospital stays and shorten overall patient rehabilitation times," Thompson said.

VertiFlex Chief Executive Officer and President Earl R. Fender said, "This asset divestiture is strategically important for VertiFlex in that it allows us to further focus on our Superion Interspinous Spacer programs. We are very pleased with the outcome of this transaction. Now 100 percent of our attention is on Superion - the primary value driver for our company. We look forward to assisting Exactech with a smooth transition of the Silverbolt platform to best serve surgeon customers and the corresponding global distributor sales network."