Exactech (Nasdaq: EXAC), a Gainesville based developer and producer of bone and joint restoration products and biologic materials for extremities, knee, hip and spine, announced today an expansion of its long-standing partnership with the University of Florida (UF) through naming of Exactech Arena at the newly remodeled Stephen C. O’Connell.
The sponsorship gives Exactech presence at the venue, use of UF facilities and television coverage and commercial spots on Fox Sports Sun and Fox Sports Florida during arena events. Exactech plans to channel the visibility toward health-related education.
“Exactech Arena adds yet another dimension to our deeply rooted partnership with UF,” Exactech CEO David Petty said. “Exactech employees are already passionate about helping people maintain their activity and independence through our joint replacement systems. This sponsorship gives us new channels to promote healthy lifestyles, encourage mobility and expand our support of the Arthritis Foundation. And what better place to symbolize this than amidst the energy and passion of this arena?”
The naming reflects a long-standing relationship between two Gainesville, Fla.-based organizations with shared goals of education, innovation and health care. Through a 10-year agreement, Exactech will pay a total of $5.9 million, with an option to extend for an additional five years. The sponsorship was instrumental in helping UF complete the ambitious $64.5 million renovation of the facility that is scheduled to re-open in December 2016.
According to UF President Kent Fuchs, “We are so excited about Exactech’s support of this transformation project. It will enhance the experience of students, patrons and fans at a wide range of campus and community events. This iconic building is so central to campus life and activity. Now we’re partnering with a company that is meaningful to both Gainesville and the UF community.”
Exactech was founded in 1985 by orthopaedic surgeon Bill Petty, MD, his wife Betty, and biomedical engineer Gary Miller, PhD. While faculty and research colleagues at the UF College of Medicine’s Department of Orthopaedic Surgery, Petty and Miller collaborated with several orthopaedic device companies and thought they saw some things the industry could do differently, and better. They wanted to focus their vision on creating products and services that would make a difference in the quality of care provided to patients suffering from joint diseases like arthritis.
With global headquarters in Gainesville, Fla., Exactech now has more than 700 employees and develops and manufactures innovative orthopaedic implants and surgical instrumentation for patients undergoing shoulder, knee, hip and spine surgery. Its products are distributed in more than 35 countries around the world.
Collaborations between Exactech and UF include:
- UF surgeons and faculty partner with Exactech to develop the latest advancements in total joint replacement surgery and to conduct clinical research.
- Orthopaedic surgeons from around the world observe UF surgeons and gain hands-on experience with Exactech products in UF’s surgical skills labs.
- Exactech sponsors seminars for UF College of Medicine orthopaedic surgery residents and fellows.
- The Gary Miller, PhD, Biomechanics Laboratory, Department of Mechanical and Aerospace Engineering.
- The Bill Petty, MD, Endowment in Orthopaedics and Rehabilitation, College of Medicine.
- Exactech internships, tours, course support and class projects for UF students.
- Exactech offers tuition reimbursement to help its employees earn degrees from UF.
- A substantial number of Exactech’s Gainesville-based employees are also UF graduates.