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Exactech: owners, implant recalls and bankruptcy

Jeffrey Binder, TPG adviser and Exactech chairman

Jeffrey Binder, Biomet's chief executive from 2007 and a TPG senior adviser from 2015, met Exactech's leaders for TPG in May 2017 and after the acquisition was co-executive chairman, then chairman, and chief executive from 2022 to 2023. The Settlement Trust alleges that he was paid a $1 million success fee, deterred HSS from disclosing polyethylene problems and steered the recall response, and sues him for breach of fiduciary duty. Binder has said Exactech discovered the packaging problem in 2021 and reported it promptly; none of the allegations has been adjudicated.

published
23 oct 2026
records as of
16 oct 2026
entities
178
sources
112
cite entities.csv

1Career and TPG

analysisBiomet's parent described Jeffrey R. Binder in 2014 as Biomet's president and chief executive since February 2007, after posts at Abbott Laboratories and Spinal Concepts. The trust says Biomet and Immucor, which he chaired from 2015, were TPG portfolio companies, and that he was a TPG Senior Advisor under an agreement of June 29, 2015 reporting to Todd Sisitsky, Jeff Rhodes and John Schilling; the merger proxy calls him a TPG advisor when he and Daniel Hann met William Petty, David Petty and Bruce Thompson at Exactech's headquarters on May 1, 2017. These are allegations in the Settlement Trust’s pending complaint and have not been adjudicated. 1 2 3

sources in this section

  1. LVB Acquisition, Inc. information statement (DEF 14C) U.S. Securities and Exchange Commission (EDGAR) · 11 Sep 2014
  2. Court record source · src-012 identified by category only · Court record
  3. Exactech, Inc. definitive merger proxy statement (Schedule 14A, DEFM14A) U.S. Securities and Exchange Commission (EDGAR) · 16 Jan 2018

2At Exactech

analysisAccording to the complaint he led TPG's acquisition effort and from February 2018 to about September 2023 was co-executive chairman or executive chairman of Exactech and Osteon Holdings, and TPG paid him a $1 million success fee invoiced two days before the closing. These are allegations in the Settlement Trust’s pending complaint and have not been adjudicated. The amended 2024 Florida annual report lists him as chairman, and a newspaper reported that he chaired Exactech from 2018 to 2024, was its chief executive from 2022 to 2023 and has consulted for TPG since 2015. 1 2 3

attributedA newspaper reported in May 2025 that Jeffrey Binder served as chairman of Exactech from 2018 to 2024 and as chief executive from 2022 to 2023, and has had a consulting relationship with TPG since 2015. 3

qualification
Newspaper account (a newspaper, May 2025) of Binder's roles.
response
In an emailed statement to the newspaper Binder said Exactech's investigation of product complaints led it to discover in 2021 a packaging non-conformity that had been undetected since 2008, which it reported to FDA, launching a recall.

sources in this section

  1. Court record source · src-012 identified by category only · Court record
  2. Exactech, Inc. amended 2024 annual report filed with the Florida Division of Corporations Florida Department of State, Division of Corporations · 19 Aug 2024
  3. Media source · src-095 identified by category only · Media

3What the trust alleges and what he has said

analysisThe trust alleges that Binder learned of delamination problems through complaints from the Hospital for Special Surgery and sought to deter it from disclosing them, that with Schilling he displaced key regulatory staff and took the lead on the 2021 recall project, and that at a September 2021 meeting with FDA he called the GXL liners "not state of the art" while pressing for them not to be recalled in full; it sues him for breach of fiduciary duty. These are allegations in the Settlement Trust’s pending complaint and have not been adjudicated. Binder told a newspaper in 2025 that the packaging non-conformity was discovered in 2021 through Exactech's own complaint investigations and was reported to FDA, launching a recall. 1

attributedThe complaint alleges that Jeffrey Binder learned of delamination problems through complaints from HSS, Exactech's largest domestic customer, sought to deter HSS from disclosing them publicly, and that Binder, John Schilling and other TPG defendants sought to conceal what Exactech's board and TPG knew as early as 2018 and to delay recalls. 1

qualification
Allegation in the Exactech Settlement Trust's complaint filed in the Delaware Court of Chancery in 2026; the case is pending and the account has not been adjudicated.
response
TPG has denied wrongdoing, according to a 2026 broadcast report; Binder told a newspaper that the packaging non-conformity was discovered in 2021 and reported to FDA.

sources in this section

  1. Court record source · src-012 identified by category only · Court record

Recorded connections

  • Jeffrey Binder to Exactech, Inc.TPG adviser at the May 1, 2017 meeting who led TPG's acquisition effort with Sisitsky, Schilling and Garrison (complaint)documented · May to October 2017 · historical
  • Jeffrey Binder to Exactech, Inc.Co-executive chairman, then executive chairman and chairman of the board; chief executive officer from March 2022 to March 2023documented · February 2018 to 2024 (chief executive March 2022 to March 2023) · historical
  • Jeffrey Binder to Osteon Holdings, Inc.Director; co-executive chairman or executive chairman, according to the complaintdocumented · February 2018 to about September 2023 · historical
  • Jeffrey Binder to TPG Global, LLCSenior Advisor under a Senior Advisor Agreement of June 29, 2015 (amended March 6, 2018)reported · From June 2015 · current or historical not established
  • Jeffrey Binder to TPG Capital, L.P.Adviser to TPG (Senior Advisor to TPG Capital, according to the complaint)documented · From 2015 · current or historical not established
  • Jeffrey Binder to TPG, Inc.Consultant to TPGreported · Since 2015, as reported in May 2025 · current or historical not established
  • TPG, Inc. to Jeffrey BinderPaid a $1 million success fee that appears to have been for the Exactech acquisition (complaint)reported · Invoiced two days before the February 14, 2018 closing · historical
  • Jeffrey Binder to Biomet, Inc.President and chief executive officer; directordocumented · February 2007 to June 2015 · historical
  • Jeffrey Binder to LVB Acquisition, Inc.Director, president and chief executive officerdocumented · From February 2007; as of the 2014 information statement · current or historical not established
  • Jeffrey Binder to Abbott LaboratoriesPresident of Abbott Spine, then senior vice president of diagnostic operationsdocumented · June 2003 to February 2007 (senior vice president from January 2006) · historical
  • Jeffrey Binder to Spinal ConceptsPresident and chief executive officerdocumented · 2000 to June 2003 · historical
  • Jeffrey Binder to Immucor, Inc.Chairman (a former TPG portfolio company)reported · From June 2015, according to the complaint · current or historical not established
  • Exactech Settlement Trust to Jeffrey BinderPlaintiff, through its trustee, in Del. Ch. No. 2026-0129 (breach of fiduciary duty claims; pending) againstdocumented · Filed January 30, 2026; active · current at the evidence cutoff

cite this dossier

DossierTwist, “Exactech: owners, implant recalls and bankruptcy”, dt.017, 23 October 2026, https://dossiertwist.com/dossiers/exactech/

Free to read, cite and republish with credit under CC BY 4.0: credit “DossierTwist” and link to the dossier.

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