Plan Confirmation and Sale Approval Court Date Expected in Early September
GAINESVILLE, Fla. (July 24, 2025) – Exactech, a global medical technology leader, has filed its updated plan of reorganization with the Court, having reached agreement with the Unsecured Creditors Committee (UCC) on details of a consensual plan to accompany the sale of its assets to a new ownership group. Court confirmation of the final plan and approval of the sale is anticipated in early September.
The proposed plan was amended to include a new trust structure that will allow general unsecured claimants, including litigation plaintiffs, to continue asserting claims through the trust as it pursues recoveries from non-debtor parties. Additionally, Exactech will receive approximately $60 million of additional financing (for a total of approximately $150 million), provided by Exactech’s proposed new owners, to ensure adequate funding as the company continues business as usual operations during the remainder of the proceedings.
After the Court confirms the final plan and approves the sale, the company’s new owners – which include Strategic Value Partners, LLC (together with its affiliates, “SVP”), Stellex Capital Management, LLC, and Greywolf Capital Management LP – will acquire substantially all of Exactech’s operations and assets free and clear, forming a new company strategically positioned for long-term success executing its mission to be the leading surgeon partner in orthopedics.
...This agreement represents a significant milestone on the path to Court approval of our plan of reorganization and emergence under new ownership...
“This agreement represents a significant milestone on the path to Court approval of our plan of reorganization and emergence under new ownership,” said Exactech President and CEO Darin Johnson. “We look forward to the Court’s approval of the sale and confirmation of the plan over the next several weeks. Throughout this process, we have continued to develop and provide high-quality medical devices for our surgeons and their patients, and we will accelerate this progress as we emerge with a stronger foundation for long-term growth in partnership with our new owners.”
David Molton, counsel for the Unsecured Creditors Committee, shared that “the UCC, in its efforts to obtain a fair recovery for claimants, appreciates the positive coordination with the new owners and management in developing a consensual plan that keeps litigation claims against certain non-debtor parties in play and, at the same time, ensures that business operations are stewarded forward under new ownership.” The UCC encourages its constituents to vote in favor of the amended plan so that the court proceedings can conclude.
SVP, Stellex and Greywolf collectively have $29 billion in assets under management and extensive operational expertise in the medical technology and device manufacturing industries.