Exactech and Alkem MedTech form partnership to begin distribution of knee and hip replacement technology in India.
Mumbai, India – (August 22, 2024) – Alkem MedTech Pvt Ltd, a wholly owned subsidiary of Alkem Laboratories Limited, is proud to announce a significant milestone in its journey to revolutionize the medical device industry in India. The company hasentered into a design and technology transfer agreement with Exactech Inc, a leading global medical device company headquartered in Gainesville, Fla., USA. With this groundbreaking partnership Alkem MedTech aims to manufacture and market Exactech’s large joint replacement implants for sale 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 in India like Truliant®, Optetrak Logic®, Alteon®, AcuMatch®, and Novation®.
“This agreement between Alkem MedTech and Exactech represents a significant step forward in the technology and design transfer for manufacturing in India,” said Kaustav Banerjee, Chief Executive Officer of Alkem MedTech Pvt Ltd. “It aligns with the Government of India’s mission to promote the end-to-end manufacturing of high-precision medical devices within the country.”
Partnering with Alkem gives Exactech a new opportunity to provide our advanced, comprehensive hip and knee implants to patients in India
This strategic venture will be Alkem MedTech’s first foray into the implantable medical devices sector. By leveraging Exactech’s expertise and Alkem’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 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 their implant partner of choice to help propel their expansion into orthopaedics.”
About Exactech
Exactech is a global medical technology leader 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 and connect with us on LinkedIn, Vumedi, YouTube, Instagram and X.
About Alkem MedTech Pvt Ltd
Alkem MedTech Pvt Ltd, a wholly owned subsidiary of Alkem Laboratories Ltd, which is the 5th largest listed Pharmaceutical company in terms of market share. As the first MedTech venture of Alkem Labs, Alkem MedTech is dedicated to advancing precision, high-risk, and implantable medical devices along with their accessories. MedTech is a strategic priority for Alkem Labs, representing a significant growth avenue. We are beginning our MedTech journey by focusing on Musculoskeletal solutions and have plans to expand into multiple segments, establishing a robust, multi-faceted MedTech company in the near future.
Media Contacts:
Courtney Adkins
Marketing Communications Director
courtney.adkins@exac.com