Exactech, a developer and producer of bone and joint restoration products, has received a five year renewal and increase of its senior secured revolving credit facility to $150 million. J.P. Morgan Securities will act as sole lead arranger and sole bookrunner with syndicate participants BBVA Compass Bank, Hancock Bank, HSBC Bank USA and Synovus Bank.
“We are pleased to expand and extend our credit facilities with a new relationship with JPMorgan Chase. With our positive cash flow over the past few quarters, we have been steadily reducing our long-term debt. This facility, however, provides us with useful financial flexibility for potential investment opportunities,” said David Petty, Exactech CEO.
Gainesville, FL-based Exactech develops and markets orthopaedic implant devices, related surgical instruments and biologic materials and services to hospitals and physicians.