--- title: "The sale of the business and Advita Ortho" language: en canonical: https://dossiertwist.com/dossiers/exactech/asset-sale/ as_of: 2026-10-16 keywords: ["Exactech","TPG","Osteon Holdings","TPG VII Osteon Holdings","Advita Ortho","Exactech Settlement Trust","polyethylene recall","Connexion GXL","Optetrak","Truliant","Equinoxe","vacuum bag packaging","EVOH","MDL No. 3044","Hospital for Special Surgery","Chapter 11","False Claims Act","Strategic Value Partners","William Petty","Jeffrey Binder"] --- # The sale of the business and Advita Ortho **Question.** Who bought Exactech’s business, on what terms, and who runs it now? **Answer.** Exactech's first lien lenders offered to buy its assets by credit bid through EI Bidco, LLC, whose notices went care of a Singapore trust company; the bid excluded product-liability claims. The assets were instead sold, with court approval in September 2025, to a group of Strategic Value Partners, Stellex and Greywolf, whose company Advita Ortho launched in November 2025 with Exactech's product lines and staff and holds the EXACTECH trademark in Canada. Exactech, Inc. remains in FDA records as applicant and recalling firm, and the injury claims stayed with the bankruptcy estate and its Settlement Trust. ## The lenders’ stalking horse bid - Analysis: Under an asset purchase agreement of October 29, 2024, EI Bidco, LLC, a Delaware company to be formed by or for the first lien lenders, was to buy substantially all of the debtors' assets, including their shares in non-U.S. subsidiaries, by credit-bidding the DIP and first lien claims. The liabilities the buyer would not assume included product-liability and similar claims arising from the malfunction, design, manufacture or inadequate packaging, labelling or warnings of any product. If the stalking horse won, the purchaser and the holders of DIP, first lien and sidecar claims would receive new debt under a $130 million takeback facility. The court approved bidding procedures with EI Bidco as stalking horse on December 10, 2024, with an auction set for March 3, 2025 if needed. [src-003] [src-039] ## EI Bidco’s address and signatory - Analysis: The agreement directs notices to EI Bidco care of Watiga Trust Ltd, 600 North Bridge Road, Parkview Square, Singapore, for the attention of Matthew Richards, with a copy to Milbank LLP, and notices to the sellers to Exactech's general counsel Donna Edwards; Richards signed for EI Bidco as authorised person and chief financial officer Tony Collins for the sellers. EI Bidco's own owners are not identified in the retained record. Aggregator profiles describe WATIGA as a group founded by Matt Richards that provided trust and fund administration through Watiga Trust, a trust company licensed by the Monetary Authority of Singapore, and Watiga Asia; they list Matthew Paul Richards as founder of Watiga & Co. and a director of Watiga Trust, and describe Watiga & Co., at the same Singapore address, as Watiga Trust's parent company. Global Loan Agency Services (GLAS) announced in December 2024 that it had completed its acquisition of Watiga Trust and Watiga Asia, and GLEIF records the former Watiga Trust Pte. Ltd. as GLAS TRUST (SINGAPORE) LTD. since July 3, 2025. [src-003] [src-035] [src-086] [src-043] [src-064] [src-063] ## The buyers and Advita Ortho - Analysis: Exactech announced court confirmation of its plan and approval of the sale of its assets to a new ownership group including Strategic Value Partners, LLC and its affiliates, Stellex Capital Management and Greywolf Capital Management, with Aurelio Sahagun as the incoming chief executive. In November 2025 Advita Ortho announced that it had acquired from Exactech established product lines, including the Equinoxe shoulder, Vantage ankle, Alteon hip and Truliant knee, Newton balancing technology and GPS navigation, together with product data and a team of employees; its owners include funds managed by affiliates of the three firms. Florida registered Advita Ortho, LLC, a Delaware company, on October 3, 2025 (M25000013975), with Advita Holdings LLC and Advita Holdings II LLC as members and Jessica Livingston as authorised person; the members' address, 100 West Putnam Avenue, Greenwich, Connecticut, is the business address SEC records give for Strategic Value Partners. [src-004] [src-007] [src-018] [src-065] ## Advita Ortho’s board and officers - Analysis: Advita's website lists its board as Luigi Ferrari (chair, a senior adviser to SVP), Aurelio Sahagun, Andrew Ekdahl, Dave Demski, Steve C de Baca, Clara Anderson and Dave Richards (managing directors of SVP), Catherine DeMarco (a principal of Stellex) and Craig James (a managing director of Greywolf). It says Paul Haydock joined as chief financial officer in September 2026 and that Chris Roche, who joined the company in 2003 and designed the Equinoxe shoulder, became senior vice president of extremities in July 2021; a March 2026 trade report said Advita had appointed Jeffrey Figg as chief financial officer, Jorge Lopes as chief operating officer and Rebecca Young as chief human resources officer. Alphatec's 2026 proxy, the only filing an EDGAR search returns for "Advita Ortho", states that Demski, an Alphatec director since 2023 and Globus Medical's chief executive from 2017 to 2022, has served on Advita's board since November 2025. [src-024] [src-073] [src-096] [src-036] ## The Exactech name after the sale - Analysis: Canada's trademark register records an assignment of the EXACTECH mark (TMA814654) from Exactech, Inc. to Advita Ortho, LLC with a change date of October 31, 2025, registered on March 10, 2026. A trademark-data site shows the U.S. mark ADVITA ORTHO (registration 8360066), filed on April 28, 2025 and registered on July 21, 2026, as owned by Exactech, Inc. of Gainesville, with first use on November 3, 2025; it is an aggregator copy of the USPTO record. FDA's 510(k) database records notification K260583 for the Equinoxe Shoulder System with Exactech, Inc. as applicant and Advita Ortho, at the same Gainesville address, as correspondent, received on February 20, 2026 and found substantially equivalent on April 14, 2026. [src-017] [src-015] [src-019] ## What the buyer did not take - Analysis: A television news investigation in September 2026 reported that the company that bought Exactech's operating assets did not have to take on most of Exactech's old liabilities, that many employees moved over and that Exactech's former chief executive stayed involved in an advisory role, and that the bankruptcy created a trust that can pursue claims against TPG for injury claimants; this is the broadcaster's summary. The station reported that TPG has denied wrongdoing. [src-093] ## Sources - [src-003] Court record source · src-003 - [src-039] Court record source · src-039 - [src-035] Court record source · src-035 - [src-086] Corporate registry source · src-086 - [src-043] Other source · src-043 - [src-064] Company statement source · src-064 - [src-063] GLEIF LEI record 9845003CBE1I61ECAE37, Global Legal Entity Identifier Foundation, 2026 - [src-004] Company statement source · src-004 - [src-007] Company statement source · src-007 - [src-018] Sunbiz detail record for Advita Ortho, LLC (document M25000013975), Florida Department of State, Division of Corporations, 2026 - [src-065] SEC EDGAR submissions record for Strategic Value Partners, LLC (CIK 0001301912), U.S. Securities and Exchange Commission (EDGAR), 2026-10-16 - [src-024] Company statement source · src-024 - [src-073] Media source · src-073 - [src-096] Alphatec Holdings, Inc. 2026 proxy statement (DEF 14A), U.S. Securities and Exchange Commission (EDGAR), 2026-04-29 - [src-036] SEC EDGAR full-text search for "Advita Ortho", U.S. Securities and Exchange Commission (EDGAR), 2026-10-16 - [src-017] Canadian trademark record 1456220 (EXACTECH, TMA814654), Canadian Intellectual Property Office, 2026-03-10 - [src-015] Other source · src-015 - [src-019] FDA 510(k) premarket notification database record K260583 (Equinoxe Shoulder System), U.S. Food and Drug Administration, 2026-04-14 - [src-093] Media source · src-093