Exactech Buys French Company BlueOrtho

Gainesville, Fla.-based Exactech Inc., which makes bone and joint restoration products, has acquired computer-assisted surgical technology development and manufacturing firm, BlueOrtho SAS. The company is based in Grenoble, France.

Exactech has partnered with BlueOrtho since 2009 to develop the ExactechGPS Guided Personalized Surgery system, which was introduced by Exactech in 2010 and fully commercialized in 2014. ExactechGPS currently supports Exactech’s comprehensive knee systems with plans to expand its application to other segments of the company’s 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 the new standard of patient care in total joint arthroplasty. BlueOrtho is a very talented, highly motivated group of professionals who work well with our staff. By welcoming them officially to the Exactech team, we broaden our engineering competencies to benefit our planned future developments.”

BlueOrtho was founded by President and CEO Anthony Boyer, orthopedic surgeon James Stiehl, M.D., and Stephane Lavallee Ph.D., a pioneer in the field of computer assisted surgery.

“The goal of the partnership between BlueOrtho and Exactech has been to develop a significant advancement in technology that improves patient outcomes,” Boyer said. “Exactech has been an ideal partner, due to their expertise in mechanical instrument design and their understanding of clinical issues related to patient outcomes. We are enthusiastic to build upon this success under the new structure.”

According to the terms of the agreement, Exactech will pay up to 10 million Euros (U.S. $11.6 million) for the 100 percent share acquisition with 2 million Euros (U.S. $2.3 million) paid at the closing on January 15, 2015 and a potential earnout amount of up to 8 million Euros (U.S. $9.3 million) based on the achievement of surgical case milestones using the technology.

ExactechGPS is a surgical technology that provides orthopedic surgeons real-time visual guidance and alignment data in total joint arthroplasty. The system features a touch screen and proprietary camera system within the sterile field.