Healthcare Industry News: Ampion
News Release - May 24, 2007
Exactech, Inc. Names James G. Binch to Board of DirectorsGAINESVILLE, Fla., May 24 (HSMN NewsFeed) -- Exactech (Nasdaq: EXAC ), a developer and producer of bone and joint restoration products including orthopaedic implants and biologic materials, announced the appointment of James G. Binch to its board of directors. Binch was elected to the board of directors during the annual shareholders meeting that took place on May 16 at Exactech's corporate headquarters in Gainesville, Fla.
Binch is currently senior operating partner and managing director of Lincolnshire Management, where his principal duties are oversight, assistance and guidance to the operating companies within the Lincolnshire Management portfolio of investments. Prior to joining Lincolnshire, he was chief executive officer of Memry Corporation, an AMEX-listed company, from 1992 until 2006. During his tenure, Memry acquired a division of Raychem Corporation and Putnam Plastics and was named among the fifty fastest-growing technology firms in Connecticut for eight consecutive years.
In 1988 Binch founded Trinity Capital Corporation, a merchant bank in Stamford, Connecticut, where he served as president and chief executive officer until 1991. From 1980 to 1987, he held senior roles with Combustion Engineering of Stamford, including three years as president and chief operating officer of the engineering sector of Combustion Engineering and its principal subsidiary, Lummus-Crest, Inc., with more than 3,000 employees, offices in eight countries and annual contract volumes in excess of two billion dollars. He was vice president of planning and business development at ChAmpion International's building products division from 1978 to 1980. Binch began his career in 1972 as a principal with the general management international consulting firm of Cresap, McCormick and Paget in New York, serving there until 1978.
Binch is a trustee of Trinity College School, in Ontario, Canada, and is a director of 169855 Canada Inc, and Visual Technologies Ltd. He is a graduate engineer from Princeton University, and holds an MBA from the Wharton School at the University of Pennsylvania.
Exactech CEO Bill Petty said, "We are pleased to welcome Jim to our board. In addition to a strong background working within the medical device industry, Jim brings extensive experience and strong contacts in the investment community. His Wall Street knowledge and expertise in the public company arena will be a valuable asset, contributing to the continued success of our company."
Binch said, "Exactech has an excellent reputation in the orthopaedic device industry and is known for its surgeon-centric solutions for joint restoration. I am pleased to join this board and look forward to working with the first-class team at Exactech."
Based in Gainesville, Fla., Exactech develops and markets orthopaedic implant devices, related surgical instruments and biologic materials and services to hospitals and physicians. The company manufactures many of its orthopaedic devices at its Gainesville facility. Exactech's orthopaedic products are used in the restoration of bones and joints that have deteriorated as a result of injury or diseases such as arthritis. Exactech markets its products in the United States and Australia, in addition to more than 25 countries in Europe, Asia and Latin America. Additional information about Exactech, Inc. can be found at http://www.exac.com. Copies of Exactech's press releases, SEC filings, current price quotes and other valuable information for investors may be found at http://www.exac.com and http://www.hawkassociates.com.
An investment profile on Exactech may be found at http://www.hawkassociates.com/exacprofile.aspx.
Investors may contact Chief Financial Officer Jody Phillips at (352) 377- 1140 or Julie Marshall or Frank Hawkins, Hawk Associates Inc., at (305) 451- 1888, e-mail: firstname.lastname@example.org. To receive future releases in e-mail alerts, sign up at http://www.hawkassociates.com/email.aspx.
This release contains various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which represent the company's expectations or beliefs concerning future events of the company's financial performance. These forward-looking statements are further qualified by important factors that could cause actual results to differ materially from those in the forward- looking statements. These factors include the effect of competitive pricing, the company's dependence on the ability of third party manufacturers to produce components on a basis which is cost-effective to the company, market acceptance of the company's products and the effects of government regulation. Results actually achieved may differ materially from expected results included in these statements.
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