Knoxville, Tenn.-based ChoiceSpine acquired Gainesville, Fla.-based Exactech's spine products business.
Here are five things to know:
1. The companies did not disclose financial terms of the divestiture.
2. Exactech will now be able to focus on core extremity and large joint segment investments.
3. Exactech predicts the restructuring and selling of spine assets will result in a pre-tax charge between $15 million and $17 million to 2016 earnings.
4. The company anticipates 2017 revenue to fall between $264 million and $272 million, with earnings per share between $1.24 and $1.32.
5. The acquisition will enhance ChoiceSpine's international reach, adding Exactech's Spain, Portugal and Germany distribution partners to the company's existing Italy and Mexico distribution partners.