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Exactech announces expiration of deferred prosecution agreement

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Exactech Inc. announced the deferred prosecution agreement entered into effect Dec. 7, 2010 with the United States Attorney’s Office for the District of New Jersey has expired. The company satisfied its obligations under the deferred prosecution agreement (DPA) and has received a Notice of Dismissal of the Complaint filed against it in this matter in the United States District Court for the District of New Jersey. Neither the DPA nor the Complaint alleged the company’s conduct adversely affected patient health or patient care, according to a company press release.

Like the other orthopedic companies who completed their DPAs, Exactech is under a corporate integrity agreement (CIA) administered by the Office of Inspector General of the Department of Health and Human Services. Exactech’s CIA extends until Dec. 7, 2015.

“We are pleased to reach closure of this process and to have the systems in place to ensure effective, efficient compliance. We will continue to practice the highest standards of ethics, which have been and will continue to be hallmarks of our corporate culture,” Bill Petty, chairman and chief executive officer of Exactech, stated in the release.