Exactech, Inc. Completes Altiva Corporation Acquisition

GAINESVILLE, Fla.--(BUSINESS WIRE)--Exactech, Inc. (Nasdaq:EXAC), a rapidly growing orthopaedic device manufacturer, announced today that it closed on the acquisition of Altiva Corporation, a North Carolina-based spinal products company, effective January 1, 2008. Exactech announced its exercise of its option and execution of a merger agreement to acquire Altiva last month based on a valuation of $25.0 million. Exactech's final payment of $6.7 million was funded through a combination of $5.1 million from its credit line and through the issuance of approximately 75,000 shares of Exactech common stock.