Exactech Inc., a joint-replacement implant manufacturer owned by TPG Capital, has filed for Chapter 11 bankruptcy protection after facing more than a thousand lawsuits related to defective hip and knee implants. The company has liabilities estimated between $100 million and $500 million and has secured an $85 million financing deal from a group of lenders to support operations during bankruptcy. Claims against Exactech allege that faulty packaging led to device recalls, affecting about 2,600 patients. Despite the legal challenges, Exactech maintains that it disputes the allegations and has attempted to settle some lawsuits without significant progress.
