Exactech Announces Completion of Merger with TPG Capital

GAINESVILLE, Fla.–(BUSINESS WIRE)–Exactech, Inc. (Nasdaq: EXAC), a leading developer and producer of
orthopaedic implant devices and surgical instrumentation for extremities
and large joints, is pleased to announce the successful completion of
the previously announced merger agreement with TPG Capital, pursuant to
which TPG has acquired all of the issued and outstanding common stock of
Exactech. In connection with the transaction, Exactech shareholders will
receive $49.25 in cash for each share of Exactech common stock they hold
(other than certain shares held by the Company’s founders and certain
management shareholders). Pursuant to the previously announced rollover
and voting support agreement, the Company’s founders, CEO and certain
other management shareholders have exchanged a portion of their shares
in the transaction, representing approximately 18.8% of the Company’s
outstanding common stock, for new equity securities in the post-closing
ownership of the Company at a valuation equal to or less than $49.25 per
share. The total transaction is valued at approximately $737 million.

As a result of the transaction, Exactech’s common stock will cease
trading on the Nasdaq immediately prior to market open on February 15,
2018, and will no longer be listed on the Nasdaq. Exactech intends to
file the relevant form with the Securities and Exchange Commission (the
“SEC”) under the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), requesting the deregistration of its common stock and
the suspension of Exactech’s reporting obligations under the Exchange

The closing of the transaction follows the approval of Exactech’s
shareholders at a special meeting held yesterday and the satisfaction of
all closing conditions.


Greenberg Traurig, P.A. (Miami) and Greenberg Traurig, LLP (NYC) are
acting as Exactech’s legal advisor. J.P. Morgan Securities LLC is acting
as financial advisor to Exactech. Ropes & Gray LLP is acting as legal
advisor to TPG Capital.

About Exactech

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.

About TPG

TPG is a leading global alternative asset firm founded in 1992 with more
than $73 billion of assets under management and offices in Austin,
Beijing, Boston, Dallas, Fort Worth, Hong Kong, Houston, London,
Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul,
and Singapore. TPG’s investment platforms are across a wide range of
asset classes, including private equity, growth venture, real estate,
credit, and public equity. TPG aims to build dynamic products and
options for its investors while also instituting discipline and
operational excellence across the investment strategy and performance of
its portfolio. For more information, visit www.tpg.com.

Forward-Looking Statements

This press release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Exchange Act. These forward-looking statements
include, but are not limited to, statements regarding Exactech’s
business combination transaction with TPG Capital, all statements
regarding Exactech’s expected future financial position, results of
operations, cash flows, dividends, financing plans, business strategy,
budgets, capital expenditures, competitive positions, growth
opportunities, plans and objectives of management, and statements
containing the words such as “anticipate,” “approximate,” “believe,”
“plan,” “estimate,” “expect,” “project,” “could,” “would,” “should,”
“will,” “intend,” “may,” “potential,” “upside,” and other similar
expressions. All Statements in this press release that are not
historical facts, are forward-looking statements that reflect the best
judgment of Exactech based upon currently available information.

Such forward-looking statements are inherently uncertain, and
shareholders and other potential investors must recognize that actual
results may differ materially from Exactech’s expectations as a result
of a variety of factors, including, without limitation, those discussed
below. Such forward-looking statements are based upon management’s
current expectations and include known and unknown risks, uncertainties
and other factors, many of which Exactech is unable to predict or
control, that may cause its actual results, performance or plans to
differ materially from any future results, performance or plans
expressed or implied by such forward-looking statements. These
statements involve risks, uncertainties and other factors discussed
below and detailed from time to time in Exactech’s filings with the SEC.

Exactech cautions investors that any forward-looking statements made by
it are not guarantees of future performance. Exactech disclaims any
obligation to update any such factors or to announce publicly the
results of any revisions to any of the forward-looking statements to
reflect future events or developments.


Luke Barrett, 415-743-1550
Bennett, 352-377-1140