Orthopedic device company Exactech acquired BlueOrtho, a Grenoble, France-based company focused on computer-assisted surgical technology development and manufacturing.
"The goal of the partnership between BlueOrtho and Exactech has been to develop a significant advancement in technology that improves patient outcomes," said BlueOrtho co-founder and President and CEO Anthony Boyer. "Exactech has been an ideal partner due to their expertise in mechanical instrument design and their understanding of clinical issues related to patient outcomes."
Here are five quick facts about the acquisition:
1. The two companies have partnered since 2009 to develop the ExactechGPS Guided Personalized Surgery System. The system was commercialized last year.
2. Under the agreement, Exactech will pay up to 10 million Euros and acquire 100 percent of the company's shares with 2 million Euros paid at the closing on Jan. 15, 2015.
3. There is a potential earn-out amount of up to 8 million Euros. This is based on surgical case milestone achievement using the robotic technology.
4. The ExactechGPS is an advanced surgical technology providing orthopedic surgeons real-time visual guidance and alignment data for joint arthroplasty. Patients around the world have undergone surgery with the technology.
5. Currently, the ExactechGPS supports the company's knee systems and there are plans to expand into Exactech's additional portfolio.
"This acquisition is a logical next step in our partnership with BlueOrtho," said Exactech Vice President of Engineering and Development for Large Joints Xavier Sarabia. "Exactech is strategically invested in this technology because we believe it will become then new standard of patient care in total joint arthroplasty."