TPG

analysisTPG's fund TPG Partners VII, L.P., acting through its general partners TPG Genpar VII and TPG Genpar VII Advisors, was among the filing persons of the February 2018 take-private, after which Exactech announced that TPG had acquired all its stock. The trust's complaint says Osteon Holdings was 88% owned by the fund's vehicle TPG VII Osteon Holdings and that the firm, formerly TPG Partners, LLC, was known as TPG Capital L.P. before becoming the listed TPG, Inc. ^{1 2 3 4}

qualification

These are allegations in the Settlement Trust's complaint, which was pending in the Delaware Court of Chancery in October 2026; no court has ruled on them. The 88% and 95% figures appear only in the complaint; the shareholders agreement and partnership records are not public. The name history is the complaint's description; this dossier treats references to TPG Capital, L.P. in the 2017–2022 records as the same TPG firm and keeps its separately named funds and vehicles as distinct participants.

analysisFrom September 2023 the sponsor vehicle TPG VII Osteon Holdings lent Exactech 'sidecar' term loans, $28.5 million at the petition date, and in June 2024 it proposed a restructuring with its own financing that did not lead to agreement. ¹

analysisTPG Inc. and the Osteon companies were named in the product-liability MDL on veil-piercing theories and dismissed from it in March 2024. A Maryland whistle-blower also sued TPG Capital, L.P. alongside Exactech; after the United States declined to intervene, the relator dismissed those claims without prejudice in April 2026. ^{1 2 3 4}

response

TPG Inc., Osteon Holdings, Osteon Merger Sub and Osteon Intermediate Holdings II moved to dismiss for failure to state a claim of indirect liability on a veil-piercing theory (motion fully briefed on 28 July 2023); the plaintiffs opposed it as premature because the choice-of-law analysis was fact-intensive.

outcome

The dismissal removed TPG and its affiliates from the MDL personal-injury actions; the alter-ego and veil-piercing claims later passed to the Settlement Trust under the bankruptcy plan.

analysisA plan proposed in spring 2025 would have released TPG for $10 million; the debtors withdrew that settlement after creditors objected, and the claims passed to the Settlement Trust, which in January 2026 sued seven TPG entities and TPG partners, staff and advisers in Delaware for at least $1 billion. ^{1 2 3 4 5 6}

qualification

The amounts and the committee's estimate are as reported by the press; the special committee's report was not retrieved. These are allegations in the Settlement Trust's complaint, which was pending in the Delaware Court of Chancery in October 2026; no court has ruled on them.

response

TPG told the national newspaper that it was 'categorically false' to allege that it had 'encouraged or engineered a bankruptcy filing to protect itself from liability'. TPG has denied wrongdoing, a local television investigation reported in September 2026; in a statement to a national newspaper in May 2025 TPG called it 'categorically false' that it had any prior knowledge of the packaging nonconformance, and in court filings TPG and its affiliates have said that Exactech and TPG maintained 'clearly separate businesses'.

outcome

Pending: the docket showed the case as active on 16 October 2026; a filing of 14 August 2026 attached the Maryland qui tam papers and the plan confirmation order as exhibits, but the filing itself is not in the record and no ruling is recorded.