MUMBAI, India , Aug. 22, 2024 /PRNewswire/ -- Alkem MedTech Pvt Ltd ("Alkem MedTech"), a wholly-owned subsidiary of Alkem Laboratories Ltd ("Alkem"), is proud to announce a significant milestone in its journey to revolutionize the medical device industry in India. Alkem MedTech has entered into an agreement with Exactech Inc ("Exactech"), a leading global medical device company headquartered in Gainesville, Florida , USA, to manufacture and market Exactech's large joint replacement implants 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 like Truliant ® , Optetrak ® , Logic Fit ® , Alteon ® , AcuMatch ® , Novation ® and Novation CFS ® , in India . "The agreement between Alkem MedTech and Exactech represents a significant step forward for manufacturing medical devices in India ," said Kaustav Banerjee , Chief Executive Officer of Alkem MedTech.
"It aligns with the Government of India's mission to promote the end-to-end manufacturing of high-precision medical devices within the country." This strategic venture will be Alkem MedTech's first foray into the implantable medical devices.