Alkem MedTech, a subsidiary of Alkem Laboratories, has signed an agreement with global medical device company Exactech to manufacture and market joint replacement implants in India.

The agreement will enable Alkem MedTech to manufacture and market Exactech's knee and hip replacement implants in the country.

Alkem MedTech will get access to the design and manufacturing expertise along with marketing rights of Exactech's brands in India such as Alteon, AcuMatch, Novation, Optetrak Logic, and Truliant.

Alkem MedTech CEO Kaustav Banerjee said: “The agreement between Alkem MedTech and Exactech represents a significant step forward for manufacturing medical devices in India.

“It aligns with the Government of India's mission to promote the end-to-end manufacturing of high-precision medical devices within the country.”

The agreement between Alkem MedTech and Exactech is expected to benefit both companies.

Alkem MedTech will gain a foothold in the medical device industry and Exactech can expand its global reach.

Exactech chief marketing officer and large joints business unit senior vice-president Adam Hayden said: “Partnering with Alkem MedTech gives Exactech a new opportunity to provide our advanced, comprehensive hip and knee implants to patients in India.

“We look forward to addressing one of the largest underserved and fastest growing patient populations in the world with our innovative solutions. Alkem, as an established and respected healthcare company with broad capabilities, will be instrumental in the process, and we are proud to be Alkem MedTech's implant partner of choice to help propel their expansion into orthopaedics.”