Exactech Board Authorizes Share Buy Back Plan

The board of Gainesville, Fla.-based Exactech Inc., which makes bone and joint restoration products for hip, knee, shoulder and spine, has authorized the company to buy back up to 1 million shares of Exactech stock over the next two years.

“Based on historical prices for Exactech stock, it is presently trading at a level which presents an attractive investment opportunity for the company itself,” said CEO David Petty. “We feel confident about the business prospects for our company as well as the likelihood of achieving these prospects. Economic and other market conditions, available funds and future capital requirements and alternatives available to Exactech, also led us to believe that it is in the best interests of the company and its shareholders for Exactech to undertake this repurchase to further strengthen our present and future financial position.”