Exactech, Inc., a developer and producer of bone and joint restoration products for hip, knee, shoulder and spine, announced the five-year renewal and increase of its senior secured revolving credit facility to $150 million.

J.P. Morgan Securities LLC will act as sole lead arranger and sole bookrunner with syndicate participants BBVA Compass Bank, Hancock Bank, HSBC Bank USA, NA and Synovus Bank. The funding closed on December 17, 2015.

Chief Executive Officer David Petty said, “We are pleased to expand and extend our credit facilities with a new relationship with JPMorgan Chase. With our positive cash flow over the past few quarters, we have been steadily reducing our long-term debt. This facility, however, provides us with useful financial flexibility for potential investment opportunities.”

Based in Gainesville, Fla., Exactech develops and markets orthopaedic implant devices, related surgical instruments and biologic materials and services to hospitals and physicians. The company manufactures many of its orthopaedic devices at its Gainesville facility. Exactech’s orthopaedic products are used in the restoration of bones and joints that have deteriorated as a result of injury or diseases such as arthritis. Exactech markets its products in the United States, in addition to more than 30 markets in Europe, Latin America, Asia and the Pacific.