GAINESVILLE, Fla.--(BUSINESS WIRE)--Exactech, Inc. (Nasdaq: EXAC), a developer and producer of bone and joint restoration products for hip, knee, shoulder, spine and biologic materials, announced today that W. Andrew Krusen was elected to the Board of Directors at the company’s annual meeting of shareholders. In addition, Dr. Bill Petty and Richard Smith were re-elected to serve three year terms on the board.
Krusen, 65, has been chairman and CEO of Dominion Financial Group, Inc. a merchant banking organization that provides investment capital to the natural resources, communications and manufacturing and distribution sectors since 1987, He has also been the managing member of Gulf Standard Energy, LLC, an oil and gas concern, since June 2004; and the managing member of Krusen-Douglas, LLC, a large landowner in the Tampa, Florida area, since January 2001. He serves as a director of several publicly traded and privately held companies, including Canada Fluorspar Inc., Raymond James Trust Company, Florida Capital Group, Beall’s Inc. and Romark Laboratories, L.C.
"Through product innovation, clear-thinking leadership and outstanding core values, Exactech has positioned itself to have a significant impact on the quality of life for so many people around the world,” Krusen said. “I'm honored to be a part of that mission."
Dr. Bill Petty, 71, executive chairman of Exactech, is a founder of the company. He was chairman of the board and CEO of the company from its inception and was president from January 2002 until December 2007. A professor at the University of Florida College of Medicine from July 1975 to September 1998, he also served as chairman of the Department of Orthopaedic Surgery at the University of Florida College of Medicine from July 1981 to January 1996.
Richard C. Smith has been a director since May 2010. He has been a partner in Norton, Rose, Fullbright LLP's Washington DC office, where he focuses on litigation, white-collar crime, governmental investigation and corporate governance matters since June 2007. He is also chair of Global White Collar Crime and Investigations Group and co-chair of the firm's Subprime and Credit Crisis practice group.
Exactech develops and markets orthopaedic implant devices, related surgical instruments and biologic materials and services to hospitals and physicians. The company manufactures many of its orthopaedic devices at its Gainesville facility. Exactech’s orthopaedic products are used in the restoration of bones and joints that have deteriorated as a result of injury or diseases such as arthritis. Exactech markets its products in the United States, in addition to more than 30 markets in Europe, Latin America, Asia and the Pacific. Additional information about Exactech, Inc. can be found at http://www.exac.com. Copies of Exactech’s press releases, SEC filings, current price quotes and other valuable information for investors may be found at http://www.exac.com and http://www.hawkassociates.com.
This release contains various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which represent the company’s expectations or beliefs concerning future events of the company’s financial performance. These forward-looking statements are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. These factors include the effect of competitive pricing, the company’s dependence on the ability of third party manufacturers to produce components on a basis which is cost-effective to the company, market acceptance of the company’s products and the effects of government regulation. Results actually achieved may differ materially from expected results included in these statements.