Alkem MedTech enters into a landmark agreement with Exactech for manufacturing and marketing knee and hip replacement implants in India

MUMBAI, India, Aug. 22, 2024 /PRNewswire/ -- Alkem MedTech Pvt Ltd ("Alkem MedTech"), a wholly-owned subsidiary of Alkem Laboratories Ltd ("Alkem"), is proud to announce a significant milestone in its journey to revolutionize the medical device industry in India. Alkem MedTech has entered into an agreement with Exactech Inc ("Exactech"), a leading global medical device company headquartered in Gainesville, Florida, USA, to manufacture and market Exactech's large joint replacement implants in India.

Exactech is renowned for developing, manufacturing and marketing joint replacement implants, surgical instruments and smart technologies that enhance surgeons' ability to improve patients' mobility worldwide. This collaboration marks the first of its kind in the musculoskeletal space in India, providing Alkem MedTech with access to the design, manufacturing expertise, and marketing rights of Exactech's globally-recognized brands like Truliant^®, Optetrak^®, Logic Fit^®, Alteon^®, AcuMatch^®, Novation^® and Novation CFS^®, in India.

"The agreement between Alkem MedTech and Exactech represents a significant step forward for manufacturing medical devices in India," said Kaustav Banerjee, Chief Executive Officer of Alkem MedTech. "It aligns with the Government of India's mission to promote the end-to-end manufacturing of high-precision medical devices within the country."

This strategic venture will be Alkem MedTech's first foray into the implantable medical devices sector. By leveraging Exactech's expertise and Alkem Medtech's capabilities, the partnership aims to set new benchmarks in the Indian medical device market, ensuring that patients receive world-class joint replacement solutions.

"Partnering with Alkem MedTech gives Exactech a new opportunity to provide our advanced, comprehensive hip and knee implants to patients in India," said Adam Hayden, Exactech's Chief Marketing Officer and Senior Vice President of Large Joints Business Unit. "We look forward to addressing one of the largest underserved and fastest growing patient populations in the world with our innovative solutions. Alkem, as an established and respected healthcare company with broad capabilities, will be instrumental in the process, and we are proud to be Alkem MedTech's implant partner of choice to help propel their expansion into orthopaedics."

About Alkem MedTech:
Alkem MedTech Pvt Ltd is a wholly-owned subsidiary of Alkem Laboratories Ltd, which is the fifth largest pharmaceutical company in Indian market. As the first MedTech venture of Alkem Laboratories, Alkem MedTech is dedicated to advancing precision, high-risk, and implantable medical devices along with their accessories. Alkem MedTech is beginning its journey by focusing on musculoskeletal solutions and have plans to expand into multiple segments, establishing a robust, multi-faceted med-tech company in the near future.

About Exactech Inc: 
Exactech Inc, headquartered in Gainesville, Fla., USA, is a global medical technology company that empowers orthopaedic surgeons with innovative implants, surgical instruments and the Active Intelligence^® (AI) ecosystem of smart technologies to give patients EXACTLY what they need to regain mobility. Visit www.exac.com for more information.

SOURCE Alkem MedTech