GAINESVILLE, Fla.--(BUSINESS WIRE)--Exactech (Nasdaq: EXAC), a developer and producer of bone and joint restoration products and biologic materials for extremities, knee, hip and spine, announced today an expansion of its long-standing partnership with the University of Florida (UF) through naming of Exactech Arena at the newly remodeled Stephen C. O’Connell Center, a sports and entertainment complex on the university’s campus.
The sponsorship gives Exactech presence at the venue, use of UF facilities and television coverage and commercial spots on Fox Sports Sun and Fox Sports Florida during arena events. Exactech plans to channel the visibility toward health-related education.
“Exactech Arena adds yet another dimension to our deeply rooted partnership with UF,” Exactech CEO David Petty said. “Exactech employees are already passionate about helping people maintain their activity and independence through our joint replacement systems. This sponsorship gives us new channels to promote healthy lifestyles, encourage mobility and expand our support of the Arthritis Foundation. And what better place to symbolize this than amidst the energy and passion of this arena?”
The naming reflects a long-standing relationship between two Gainesville, Fla.-based organizations with shared goals of education, innovation and health care. Through a 10-year agreement, Exactech will pay a total of $5.9 million, with an option to extend for an additional five years. The sponsorship was instrumental in helping UF complete the ambitious $64.5 million renovation of the facility that is scheduled to re-open in December 2016.
According to UF President Kent Fuchs, “We are so excited about Exactech’s support of this transformation project. It will enhance the experience of students, patrons and fans at a wide range of campus and community events. This iconic building is so central to campus life and activity. Now we’re partnering with a company that is meaningful to both Gainesville and the UF community.”
Exactech was founded in 1985 by orthopaedic surgeon Bill Petty, MD, his wife Betty, and biomedical engineer Gary Miller, PhD. While faculty and research colleagues at the UF College of Medicine’s Department of Orthopaedic Surgery, Petty and Miller collaborated with several orthopaedic device companies and thought they saw some things the industry could do differently, and better. They wanted to focus their vision on creating products and services that would make a difference in the quality of care provided to patients suffering from joint diseases like arthritis.
With global headquarters in Gainesville, Fla., Exactech now has more than 700 employees and develops and manufactures innovative orthopaedic implants and surgical instrumentation for patients undergoing shoulder, knee, hip and spine surgery. Its products are distributed in more than 35 countries around the world.
Collaborations between Exactech and UF include:
- UF surgeons and faculty partner with Exactech to develop the latest advancements in total joint replacement surgery and to conduct clinical research.
- Orthopaedic surgeons from around the world observe UF surgeons and gain hands-on experience with Exactech products in UF’s surgical skills labs.
- Exactech sponsors seminars for UF College of Medicine orthopaedic surgery residents and fellows.
- The Gary Miller, PhD, Biomechanics Laboratory, Department of Mechanical and Aerospace Engineering.
- The Bill Petty, MD, Endowment in Orthopaedics and Rehabilitation, College of Medicine.
- Exactech internships, tours, course support and class projects for UF students.
- Exactech offers tuition reimbursement to help its employees earn degrees from UF.
- A substantial number of Exactech’s Gainesville-based employees are also UF graduates.
To learn more about the partnership, visit www.exac.com/ExactechArena.
Based in Gainesville, Fla., 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 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.