Exactech 10-Q 8 Nov 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 03, 2017
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Entity Registrant Name	EXACTECH INC
Entity Central Index Key	913,165
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		14,366,181

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
ASSETS
Cash and cash equivalents	$ 11,718	$ 13,052
Accounts receivable, net of allowances of $2,043 and $1,473	56,940	53,051
Prepaid expenses and other assets, net	3,585	3,075
Income taxes receivable	895	2,140
Inventories - current	69,885	65,264
Assets held for sale	0	6,477
Total current assets	143,023	143,059
PROPERTY AND EQUIPMENT:
Land	4,550	4,474
Machinery and equipment	45,622	42,034
Surgical instruments	146,827	132,134
Furniture and fixtures	4,715	4,700
Facilities	23,062	21,726
Projects in process	6,739	2,473
Total property and equipment	231,515	207,541
Accumulated depreciation	(111,434)	(100,234)
Net property and equipment	120,081	107,307
OTHER ASSETS:
Deferred financing and other non-current assets, net	4,416	968
Equity investment	1,916	2,047
Deferred tax assets	0	887
Non-current inventories	12,799	15,723
Goodwill	14,860	13,819
Total other assets	44,101	43,843
TOTAL ASSETS	307,205	294,209
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable	18,338	17,566
Income taxes payable	568	780
Accrued expenses and other liabilities	13,547	11,832
Other current liabilities	2,616	2,927
Total current liabilities	35,069	33,105
LONG-TERM LIABILITIES:
Deferred tax liabilities	4,181	1,773
Line of credit	14,000	20,000
Other long-term liabilities	3,653	5,089
Total long-term liabilities	21,834	26,862
Total liabilities	56,903	59,967
SHAREHOLDERS' EQUITY:
Common stock	145	144
Additional paid-in capital	91,051	87,319
Treasury stock	(3,042)	(3,042)
Accumulated other comprehensive loss	(8,561)	(8,611)
Retained earnings	170,709	158,432
Total shareholders' equity	250,302	234,242
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	307,205	294,209
Product licenses and designs
OTHER ASSETS:
Finite lived intangible assets, net	8,994	9,102
Patents and trademarks
OTHER ASSETS:
Finite lived intangible assets, net	664	821
Customer relationships
OTHER ASSETS:
Finite lived intangible assets, net	$ 452	$ 476

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Accounts receivable, allowance	$ 2,043	$ 1,473

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
NET SALES	$ 61,404	$ 59,919	$ 198,213	$ 191,341
COST OF GOODS SOLD	18,232	18,772	59,927	59,408
Gross profit	43,172	41,147	138,286	131,933
OPERATING EXPENSES:
Sales and marketing	22,713	21,684	71,335	68,838
General and administrative	5,908	5,186	18,065	16,740
Research and development	5,729	5,096	17,333	15,495
Depreciation and amortization	4,892	4,592	14,283	13,326
Total operating expenses	39,242	36,558	121,016	114,399
INCOME FROM OPERATIONS	3,930	4,589	17,270	17,534
OTHER INCOME (EXPENSE):
Interest income	32	29	87	35
Other income	(28)	43	300	115
Interest expense	(229)	(186)	(693)	(716)
Foreign Currency Gain (Loss)	470	73	1,200	665
Total other income (expense)	245	(41)	894	99
INCOME BEFORE INCOME TAXES	4,175	4,548	18,164	17,633
PROVISION FOR INCOME TAXES	1,277	1,383	5,756	5,680
NET INCOME	2,898	3,165	12,408	11,953
EQUITY IN LOSS OF INVESTEE, NET OF TAX	(36)	0	(131)	0
Net Income	$ 2,862	$ 3,165	$ 12,277	$ 11,953
BASIC EARNINGS PER SHARE (in dollars per share)	$ 0.20	$ 0.22	$ 0.86	$ 0.85
DILUTED EARNINGS PER SHARE (in dollars per share)	$ 0.20	$ 0.22	$ 0.84	$ 0.84

Condensed Consolidated Stateme5

Condensed Consolidated Statements Of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
Net Income	$ 2,862	$ 3,165	$ 12,277	$ 11,953
Other comprehensive income (loss), net of tax:
Change in currency translation	(163)	805	50	2,353
Other comprehensive income (loss), net of tax	(163)	805	50	2,353
Comprehensive income	$ 2,699	$ 3,970	$ 12,327	$ 14,306

Condensed Consolidated Stateme6

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
OPERATING ACTIVITIES:
Net income	$ 12,277	$ 11,953
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for allowance for doubtful accounts and sales returns	570	111
Inventory allowance	2,903	3,434
Depreciation and amortization	15,173	14,246
Restricted common stock issued for services	290	290
Compensation cost of stock awards	1,322	1,274
Loss on disposal of equipment	1,168	1,725
Gain on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	0	21
Foreign currency exchange gain	(1,739)	(1,081)
Equity in net loss of equity investee	131	0
Deferred income taxes	3,296	(1,595)
Changes in assets and liabilities which provided (used) cash:
Accounts receivable	(259)	1,678
Prepaids and other assets	(1,633)	(988)
Inventories	(4,706)	(11,487)
Accounts payable	891	77
Income taxes receivable/payable	1,042	1,716
Accrued expense & other liabilities	(1,959)	470
Net cash provided by operating activities	28,767	21,844
INVESTING ACTIVITIES:
Purchases of property and equipment	(26,776)	(24,499)
Purchase of business, net of cash acquired	0	(833)
Proceeds from sale of spine assets	4,000	0
Proceeds from sale of property and equipment	0	120
Investment in note receivable	(1,500)	0
Purchase of intangible assets	150	25
Net cash used in investing activities	(24,426)	(25,237)
FINANCING ACTIVITIES:
Net (repayments) borrowings on line of credit	(6,000)	4,000
Payments of contingency consideration	(2,589)	(669)
Payments on capital leases	(10)	(32)
Repurchase of common stock	0	(3,042)
Proceeds from issuance of common stock	2,121	3,014
Net cash used in financing activities	(6,478)	3,271
Effect of foreign currency translation on cash and cash equivalents	803	22
Cash and cash equivalents held for sale	0	0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(1,334)	(100)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	13,052	12,713
CASH AND CASH EQUIVALENTS, END OF PERIOD	11,718	12,613
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest	461	417
Income taxes	1,967	6,816
Non-cash investing and financing activities:
Capitalized lease additions	0	29
Purchase of equipment payable	483	434
Business combination, contingency payable	$ 1,785	$ 2,377

Basis Of Presentation

Basis Of Presentation	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis Of Presentation	1. BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements of Exactech, Inc. and its subsidiaries (the “Company”, “Exactech”, "we", "us" or "our"), which are for interim periods, have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission relating to interim financial statements. These unaudited condensed consolidated financial statements do not include all disclosures provided in the Company's audited annual financial statements. The condensed financial statements should be read in conjunction with the audited financial statements and notes contained in Exactech's Annual Report on Form 10-K for the year ended December 31, 2016 , as filed with the Securities and Exchange Commission. In the opinion of management, all adjustments considered necessary for a fair presentation have been included, consisting of normal recurring adjustments. Our subsidiaries, Exactech UK, Exactech Japan, Exactech France, Exactech Deutschland, Exactech Ibérica, Exactech International Operations, Blue Ortho, Exactech Australia and Exactech U.S., are consolidated for financial reporting purposes, and all intercompany balances and transactions have been eliminated. Results of operations for the three and nine month periods ended September 30, 2017 are not necessarily indicative of the results to be expected for the full year. Certain amounts reported for prior periods have been reclassified to be consistent with the current period presentation.

New Accounting Pronouncements A

New Accounting Pronouncements And Standards	9 Months Ended
	Sep. 30, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements And Standards	2. NEW ACCOUNTING PRONOUNCEMENTS AND STANDARDS In May 2017, the Financial Accounting Standards Board (“FASB”) issued amended guidance related to accounting for changes in terms or conditions of share-based payment awards. The amended guidance is effective for interim and annual periods beginning after December 15, 2017, with early adoption permitted. We do not expect the adoption of this guidance to have a material impact on our financial statements. In January 2017, the FASB issued amended guidance to simplify the accounting for goodwill impairment. The guidance removes step two of the goodwill impairment test, which requires a hypothetical purchase price allocation. A goodwill impairment will now be recognized for the amount by which the carrying value of a reporting unit exceeds its fair value, not to exceed the carrying amount of goodwill. The amended guidance is effective for interim and annual periods beginning after December 15, 2019, with early adoption permitted for periods beginning after December 15, 2016. We are currently assessing the impact on our financial statements of adopting this guidance. In January 2017, the FASB issued amended guidance on the accounting for business combinations to clarify the definition of a business and to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. Under the guidance, if substantially all of the fair value of gross assets acquired is concentrated in a single asset (or group of similar assets), the assets acquired would not represent a business. In addition, in order to be considered a business, an acquisition would have to include at a minimum an input and a substantive process that together significantly contribute to the ability to create an output. The amended guidance also narrows the definition of outputs by more closely aligning it with how outputs are described in FASB guidance for revenue recognition. This guidance is effective for interim and annual periods beginning after December 15, 2017, and early adoption is permitted. We do not expect the adoption of this guidance to have a material impact on our financial statements. In November 2016, the FASB issued new guidance, which requires entities to show the changes in the total of cash, cash equivalents, restricted cash and restricted cash equivalents in the statement of cash flow. The new standard is required to be applied retrospectively. The guidance is effective for interim and annual periods beginning after December 15, 2017, and early adoption is permitted. We do not expect the adoption of this guidance to have a material impact on our financial statements. In October 2016, the FASB issued new guidance which allows recognition of the income tax consequences upon intra-entity transfers of assets other than inventory when the transfer occurs. The guidance should be applied on a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. The new guidance is effective for annual and interim periods beginning after December 15, 2017, and early adoption is permitted. We are currently assessing the impact of adopting this guidance on our financial statements. In August 2016, the FASB issued new guidance to clarify how certain transactions are presented and classified in the statement of cash flows. The guidance is aimed at reducing the existing diversity in practice. The guidance will be effective for annual and interim periods beginning after December 15, 2017, with early adoption permitted. We are currently assessing the impact of adopting this guidance on our financial statements. In February 2016, the FASB issued updated guidance on leases. The new standard requires all lessees to recognize a lease liability and a right-of-use asset, measured at the present value of the future minimum lease payments, at the lease commencement date. Lessor accounting remains largely unchanged under the new guidance. A modified retrospective approach should be applied for leases existing at the beginning of the earliest comparative period presented in the financial statements. The guidance is effective for annual and interim periods beginning after December 15, 2018, and early adoption is permitted. We are currently assessing the impact of adopting this guidance on our financial statements. In September 2015, the FASB issued guidance on business combination provisional adjustments during the measurement period. The new standard requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The guidance is effective for annual and interim periods beginning on or after December 15, 2017, and early application is permitted. We are currently assessing the impact of adopting this guidance on our financial statements; however, we do not expect the adoption of this guidance to have a material impact on our financial position or results of operations. In May 2014, the FASB issued new revenue recognition guidance that supersedes the existing revenue recognition guidance and most industry-specific guidance applicable to revenue recognition. The new guidance is based on the principle that revenue is recognized upon the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance will also result in enhanced disclosures about revenue, provide guidance for transactions that were not previously addressed comprehensively, and clarify guidance for multiple-element arrangements. The guidance is effective for the first fiscal quarter of 2018, and early application is permitted for periods beginning on or after January 1, 2017. Companies have the option to apply the new guidance under a retrospective approach to each prior reporting period presented, or a modified retrospective approach with the cumulative effect of initially applying the new guidance recognized at the date of initial application within the Consolidated Statement of Changes in Stockholders' Equity. We plan to adopt the new guidance effective January 1, 2018. At this time we have not identified any material impact on our financial position or results of operations that would result in the year of adoption. During the first nine months of 2017, we commenced an evaluation of our existing revenue contracts with our customers on some of our most significant revenue streams. Based upon our preliminary assessment, we do not believe there will be a material change to the timing of our revenue recognition; however, we continue our review of the the revenue streams. It is likely we will be required to provide additional disclosures in the notes to the consolidated financial statements upon adoption. We have not yet determined the effect of the ASU on our internal control over financial reporting or other changes in business practices and processes however we are in the process of updating our revenue accounting policy and analyzing controls. We plan to adopt the new guidance under the retrospective approach. Our evaluation of ASU 2014-09 is ongoing and not complete.

Fair Value Measures

Fair Value Measures	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measures	3. FAIR VALUE MEASURES Our financial instruments include cash and cash equivalents, trade receivables, debt, and cash flow hedges. The carrying amounts of cash and cash equivalents, and trade receivables approximate fair value due to their short maturities. The carrying amount of debt approximates fair value due to the variable rate associated with the debt. The fair value of cash flow hedges are based on dealer quotes. The table below provides information on our assets and liabilities that are measured at fair value on a recurring basis: (In Thousands) Total Fair Value at September 30, 2017 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) September 30, 2017 Liabilities Contingent consideration $ 6,127 $ — $ — $ 6,127 Total: $ 6,127 $ — $ — $ 6,127 December 31, 2016 Liabilities Contingent consideration $ 7,912 $ — $ — $ 7,912 Total: $ 7,912 $ — $ — $ 7,912 The fair value of our contingent consideration liability for the Blue Ortho and Exactech Australia acquisitions is management's estimate based on the present value of estimated payment scenarios. See Note 12, Business Acquisition and Divestiture, for further discussion on the contingent consideration. The inputs and assumptions we use in our outstanding fair value measures are not observable in the market; however, they are assumptions we believe would be made by a market participant. We evaluate our estimates on a quarterly basis, as we obtain additional data impacting the assumptions, and recognize any changes in the unaudited condensed consolidated statements of income.

Goodwill And Other Intangible A

Goodwill And Other Intangible Assets	9 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill And Other Intangible Assets	4. GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill – The following table provides the changes to the carrying value of goodwill for the nine month period ended September 30, 2017 : (in thousands) Extremities Knee Hip Other Total Balance as of December 31, 2016 $ 5,154 $ 6,449 $ 1,301 $ 915 $ 13,819 Goodwill of divested business (81 ) (133 ) (40 ) (13 ) (267 ) Foreign currency translation effects 598 470 138 102 1,308 Balance as of September 30, 2017 $ 5,671 $ 6,786 $ 1,399 $ 1,004 $ 14,860 We test goodwill for impairment annually as of the 1 st of October. Our impairment analysis as of October 1, 2017 has not been completed. Other Intangible Assets – The following table summarizes the carrying values of our other intangible assets at September 30, 2017 and December 31, 2016 : (in thousands) Carrying Value Accumulated Amortization Net Carrying Value Weighted Avg Amortization Period (In Years) Balance at September 30, 2017 Product licenses and designs $ 15,799 $ 6,805 $ 8,994 11.2 Patents and trademarks 4,184 3,520 664 12.9 Customer relationships 1,594 1,142 452 6.9 Balance at December 31, 2016 Product licenses and designs $ 14,842 $ 5,740 $ 9,102 11.5 Patents and trademarks 4,182 3,361 821 14.0 Customer relationships 1,438 962 476 6.9

Hedging Activities And Foreign

Hedging Activities And Foreign Currency Translation	9 Months Ended
	Sep. 30, 2017
Foreign Currency Translation And Hedging Activities [Abstract]
Hedging Activities And Foreign Currency Translation	5. HEDGING ACTIVITIES AND FOREIGN CURRENCY TRANSLATION Foreign Currency Transactions The following table provides information on the components of our foreign currency activities recognized in the unaudited condensed consolidated statements of income: (in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Foreign currency transactions gain $ 470 $ 155 $ 1,739 $ 1,081 Foreign currency option loss — (82 ) (539 ) (416 ) Foreign currency gain, net $ 470 $ 73 $ 1,200 $ 665 Foreign Currency Transactions – Gains and losses resulting from our transactions and our subsidiaries’ transactions that are made in currencies different from our and their own are included in income as they occur and as other income (expense) in the condensed consolidated statements of income. Foreign Currency Options – During 2017, we entered into foreign currency forward contracts as economic hedges against exchange rate fluctuations of the U.S. Dollar (USD) against the Euro (EUR) and the Australian Dollar (AUD) and recognized losses of $0.5 million , related to these instruments. The recognized losses are recorded in other income (expense) in the unaudited condensed consolidated statements of income related to the fair value of these currency options based upon dealers' quotes. During the three months ended September 30, 2017 we did not enter into any foreign currency options. During 2016, we entered into foreign currency forward contracts as economic hedges against the exchange rate fluctuations of the USD against the EUR, the British Pound (GBP) and the Japanese Yen (JPY). During the nine months ended September 30, 2016 , we recognized losses of $0.4 million related to these instruments. The recognized losses were recorded in other income (expense) in the unaudited condensed consolidated statements of income related to the fair value of these currency options based upon dealers' quotes. Foreign Currency Translation We are exposed to market risk related to changes in foreign currency exchange rates. The functional currency of substantially all of our international subsidiaries is their local currency. Transactions are translated into USD, and translation gains and losses are recognized in “Other comprehensive income (loss)”. Fluctuations in exchange rates affect our financial position and results of operations. The majority of our foreign currency exposure is to the EUR, GBP, JPY, and AUD. During the nine months ended September 30, 2017 , translation gains were $0.1 million , which were primarily due to the strengthening of the EUR and AUD against the USD during the nine months ended September 30, 2017 . During the nine months ended September 30, 2016 , translation gains were $2.4 million , which were primarily due to the strengthening of the JPY and the AUD, and offset partially by the weakening of the GBP, in each case against the USD. While we may experience translation gains and losses during the balance of the year ending December 31, 2017 , these gains and losses are not expected to have a material adverse effect on our financial position, results of operations, or cash flows.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2017
Inventory Disclosure [Abstract]
Inventories	6. INVENTORIES Inventories are valued at the lower of cost or net realizable value using a FIFO inventory method. Inventory is comprised of implants and instruments held for sale, including implants consigned or loaned to customers and agents. The consigned or loaned inventory remains our inventory until we are notified of the implantation. Our independent agents have contractual responsibility for any discrepancies in our consigned or loaned inventory, which can result in the agent’s loss of compensation if the inventory consigned or loaned to them is lost. We are required to maintain substantial levels of inventory because it is necessary to maintain all sizes of each component to fill customer orders. The size of the component to be used for a specific patient is typically not known with certainty until the time of surgery, and certain sizes are typically used less frequently than the “standard” sizes. Due to this uncertainty, a minimum of one of each size of each component in the system to be used must be available to each sales representative at the time of surgery, including unusual sizes that will be sold less frequently than “standard” sizes. Although we may conclude that it is more likely than not that all quantities on hand of certain sizes will eventually not be sold, we do not consider such items “excess inventory,” as our business model requires that we maintain such quantities in order to sell the “standard” sizes. As a result of the need to maintain substantial levels of all sizes and components of inventory, we are subject to the risk of inventory obsolescence. In the event that a substantial portion of our inventory becomes obsolete, it would have a material adverse effect on the Company. For items that we identify as obsolete, we record a charge to reduce their carrying value to net realizable value. We also maintain an allowance for lost or damaged inventory to allow for the cost of items that are lost or damaged. We experienced charges related to the lost or damaged and obsolete inventory allowances of $0.4 million and $0.6 million during the three months ended September 30, 2017 and 2016 , respectively; and $1.7 million and $1.4 million , during the nine months ended September 30, 2017 and 2016 , respectively. An allowance charge for slow moving inventories is recorded based upon an analysis of slow moving inventory items within a product group level. The slow moving inventory allowance is analyzed and calculated based on comparing the current quantity of inventory to historical sales and provides an allowance for any slow moving inventory on a systematic basis, which recognizes the cost of anticipated future obsolescence over the average fifteen year expected life of product groups. We believe this method is appropriate as it recognizes the lack of utility of these items (as a charge to cost of goods sold) over the related product group revenue life cycle. The key inputs to our slow moving allowance are trailing twelve months usage and the expected product life. As the slow moving allowance is an estimate of future obsolescence, changes in sales patterns from historical trends and future product release schedules, could impact the slow moving allowance balance, and result in higher or lower charges to the periodic cost of goods sold. As of September 30, 2017 , we have inventory items with a cost basis of approximately $17.3 million that we determined to be slow moving inventory and for which we have provided an allowance of approximately $12.7 million . We experienced charges related to the slow moving inventory allowances of $0.2 million and $0.5 million , during the three months ended September 30, 2017 and 2016 , respectively; and $1.2 million and $2.1 million , during the nine months ended September 30, 2017 and 2016 , respectively. We also test our inventory levels for the amount of inventory that we expect to sell within one year. Due to the scope of products required to support surgeries and the fact that we stock new subsidiaries, add consignment locations, and launch new products, the level of inventory often exceeds the forecasted level of cost of goods sold for the next twelve months. We classify our estimate of such inventory as non-current. The following table summarizes our classifications of inventory as of September 30, 2017 and December 31, 2016 : (in thousands) September 30, December 31, Raw materials $ 21,804 $ 23,183 Work in process 1,705 1,634 Finished goods on hand 19,736 7,913 Finished goods on loan/consignment 39,439 48,257 Inventory total 82,684 80,987 Non-current inventories 12,799 15,723 Inventories, current $ 69,885 $ 65,264

Income Tax

Income Tax	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income Tax	7. INCOME TAX At September 30, 2017 , net operating loss carry forwards of our foreign and domestic subsidiaries totaled $26.7 million , some of which begin to expire in 2020. For accounting purposes, the estimated tax effect of this net operating loss carry forward results in a deferred tax asset. The deferred tax asset associated with these losses was $8.4 million with a valuation allowance of $6.2 million charged against this deferred tax asset assuming these losses will not be fully realized. At December 31, 2016 , these net operating loss carry forwards totaled $32.6 million , and the deferred tax asset was $9.5 million with a valuation allowance of $7.3 million charged against this deferred tax asset assuming these losses will not be fully realized. The change in the operating loss carry forward and the valuation allowance was a result of our divestiture in Exactech Taiwan and the elimination of their deferred tax asset. Our income tax returns are subject to examination in numerous state, federal and foreign jurisdictions due to the multiple income tax jurisdictions in which we operate. We are not currently aware of any open examinations by the various government jurisdictions. As of September 30, 2017 , we had no liability recorded as an uncertain tax benefit.

Debt

Debt	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Debt	8. DEBT Debt consisted of the following at September 30, 2017 and December 31, 2016 : (in thousands) September 30, December 31, Business line of credit payable on a revolving basis, plus interest based on adjustable rate as determined by one month LIBOR based on our ratio of funded debt to EBITDA, 2.50% as of September 30, 2017. 14,000 20,000 Total debt $ 14,000 $ 20,000 The following is a schedule of future debt maturities as of September 30, 2017 , for the years ending December 31 (in thousands): 2017 $ — 2018 — 2019 — 2020 14,000 2021 — Thereafter — $ 14,000

Commitments And Contingencies

Commitments And Contingencies	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingencies	9. COMMITMENTS AND CONTINGENCIES Litigation There are various claims, lawsuits, and disputes with third parties and pending actions involving various allegations against us incident to the operation of our business, principally product liability cases. While we believe that the various claims are without merit, we are unable to predict the ultimate outcome of such litigation. We therefore maintain insurance, subject to self-insured retention limits, for all such claims, and establish accruals for product liability and other claims based upon our experience with similar past claims, advice of counsel and the best information reasonably available. At September 30, 2017 and December 31, 2016 , we had $200,000 and $25,000 accrued, respectively, for product liability claims. These product liability claims are subject to various uncertainties, and it is possible that they may be resolved unfavorably to us. While it is not possible to predict with certainty the outcome of the various cases, it is the opinion of management that, upon ultimate resolution, the cases will not have a material adverse effect on our consolidated financial position, results of operations or cash flows. Our insurance policies covering product liability claims must be renewed annually. Although we have been able to obtain insurance coverage for product liability claims at a cost and on other terms and conditions that have been acceptable to us, we may not be able to procure acceptable policies in the future. Commitments In June 2017, we loaned our independent distributor in South Korea $1.5 million and entered into a long-term note receivable. The loan is intended to assist this distributor with its business development and operating cash flows. The fair value of the note receivable is management's estimate based on the present value of estimated collectability scenarios. At September 30, 2017 , we had outstanding commitments for the purchase of inventory, raw materials and supplies of $14.5 million and outstanding commitments for the purchase of capital equipment of $7.5 million .

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Segment Information	10. SEGMENT INFORMATION We evaluate our operating segments by our major product lines: extremity, knee, hip, and other products. The “other products” segment includes miscellaneous sales categories, such as bone cement, instrument rental fees, shipping charges, and other implant product lines. As a result of our divestiture of our spine assets, we have also aggregated our remaining biologics and spine products into the "other" segment. To conform to current period presentation, we have reclassified prior period biologics and spine results to the "other" segment, and prior period instrument sales and segment profit (loss) from the "other" segment to their individual product lines. Evaluation of the performance of operating segments is based on their respective incomes from operations before taxes, interest income and expense, and nonrecurring items. Intersegment sales and transfers are not significant. The accounting policies of the reportable segments are the same as those described in Note 2 of the notes to our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2016 . Total assets not identified with a specific segment are listed as “corporate” and include cash and cash equivalents, accounts receivable, income taxes receivable, deposits and prepaid expenses, deferred tax assets, land, facilities, office furniture and computer equipment, notes receivable, and other investments. Depreciation and amortization on corporate assets is allocated to the product segments for purposes of evaluating the income (loss) from operations, and capitalized surgical instruments are allocated to the appropriate product line supported by those assets. Summarized information concerning our reportable segments is shown in the following table (in thousands): Three Months Ended September 30, Extremity Knee Hip Other Corporate Total 2017 Net sales $ 27,684 $ 16,545 $ 11,306 $ 5,869 $ — $ 61,404 Segment profit (loss) 2,935 344 493 152 251 4,175 Total assets, net 53,747 75,444 42,578 17,931 117,505 307,205 Capital expenditures 1,474 1,925 602 476 4,105 8,582 Depreciation and Amortization 997 1,840 734 162 1,476 5,209 2016 Net sales $ 23,394 $ 17,027 $ 11,629 $ 7,869 $ — $ 59,919 Segment profit (loss) 3,369 790 911 (481 ) (41 ) 4,548 Total assets, net 45,513 73,962 41,541 34,219 104,837 300,072 Capital expenditures 1,761 481 1,401 873 2,655 7,171 Depreciation and Amortization 1,103 1,307 957 687 825 4,879 Nine Months Ended September 30, Extremity Knee Hip Other Corporate Total 2017 Net sales $ 87,105 $ 56,198 $ 34,951 $ 19,959 $ — $ 198,213 Segment profit (loss) 11,501 2,644 2,629 490 900 18,164 Total assets, net 53,747 75,444 42,578 17,931 117,505 307,205 Capital expenditures 6,737 4,219 4,259 4,024 8,170 27,409 Depreciation and Amortization 2,799 5,290 2,170 605 4,309 15,173 2016 Net sales $ 73,061 $ 56,432 $ 35,554 $ 26,294 $ — $ 191,341 Segment profit (loss) 11,173 3,223 3,363 (225 ) 99 17,633 Total assets, net 45,513 73,962 41,541 34,219 104,837 300,072 Capital expenditures 4,374 4,577 3,919 5,968 6,149 24,987 Depreciation and Amortization 2,542 5,067 2,320 1,551 2,766 14,246 Geographic distribution of our long-lived assets and inventory is shown in the following table (in thousands): As of: September 30, 2017 December 31, 2016 Domestic International Domestic International Long lived assets, gross $ 183,560 $ 69,532 $ 167,326 $ 63,805 Accumulated depreciation and amortization (93,221 ) (29,680 ) (89,445 ) (23,980 ) Long lived assets, net 90,339 39,852 77,881 39,825 Inventory $ 48,373 $ 34,311 $ 47,538 $ 33,449 Geographic distribution of our sales is summarized in the following table (in thousands): Three Months Ended September 30, 2017 2016 % Inc/Decr Domestic sales $ 43,289 $ 42,242 2.5 International sales 18,115 17,677 2.5 Total sales $ 61,404 $ 59,919 2.5 Nine Months Ended September 30, 2017 2016 % Inc/Decr Domestic sales $ 136,644 $ 131,427 4.0 International sales 61,569 59,914 2.8 Total sales $ 198,213 $ 191,341 3.6

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Sep. 30, 2017
Stockholders' Equity Note [Abstract]
Shareholders' Equity	11. SHAREHOLDERS’ EQUITY The following is a reconciliation of the numerators and denominators of the basic and diluted EPS computations for net income and net income available to common shareholders: Income (Numerator) Shares (Denominator) Per Share Income (Numerator) Shares (Denominator) Per Share Three Months Ended Three Months Ended (in thousands, except per share amounts) September 30, 2017 September 30, 2016 Net income $ 2,862 $ 3,165 Basic EPS: Net income available to common shareholders $ 2,862 14,352 $ 0.20 $ 3,165 14,123 $ 0.22 Effect of dilutive securities: Stock options 261 247 Diluted EPS: Net income available to common shareholders plus assumed conversions $ 2,862 14,613 $ 0.20 $ 3,165 14,370 $ 0.22 Nine Months Ended Nine Months Ended (in thousands, except per share amounts) September 30, 2017 September 30, 2016 Net income $ 12,277 $ 11,953 Basic EPS: Net income available to common shareholders $ 12,277 14,315 $ 0.86 $ 11,953 14,108 $ 0.85 Effect of dilutive securities: Stock options 263 195 Diluted EPS: Net income available to common shareholders plus assumed conversions $ 12,277 14,578 $ 0.84 $ 11,953 14,303 $ 0.84 For the three months ended September 30, 2017 , weighted average options to purchase 184,500 shares of common stock were outstanding but were not included in the computation of diluted EPS because the options were antidilutive under the treasury stock method. For the three months ended September 30, 2016 , weighted average options to purchase 18,500 shares of common stock were not included in the computation of diluted EPS because the options were antidilutive under the treasury stock method. For the nine months ended September 30, 2017 , weighted average options to purchase 102,163 shares of common stock were outstanding but were not included in the computation of diluted EPS because the options were antidilutive under the treasury stock method. For the nine months ended September 30, 2016 , weighted average options to purchase 183,737 shares of common stock were not included in the computation of diluted EPS because the options were antidilutive under the treasury stock method. Changes in Shareholders’ Equity: The following is a summary of the changes in shareholders’ equity for the nine months ended September 30, 2017 : Common Stock Additional Paid-In Capital Retained Earnings Common Stock Held in Treasury Accumulated Other Comprehensive Income (Loss) Total (in thousands) Shares Amount Balance December 31, 2016 14,413 $ 144 $ 87,319 $ 158,432 $ (3,042 ) $ (8,611 ) $ 234,242 Net income — — — 12,277 — — 12,277 Other comprehensive income, net of tax — — — — — 50 50 Exercise of stock options 75 1 1,422 — — — 1,423 Issuance of restricted common stock for services 10 — 290 — — — 290 Issuance of common stock under Employee Stock Purchase Plan 31 — 698 — — — 698 Compensation cost of stock options — — 1,322 — — — 1,322 Balance September 30, 2017 14,529 $ 145 $ 91,051 $ 170,709 $ (3,042 ) $ (8,561 ) $ 250,302 Treasury Stock: In December 2015, our Board of Directors authorized the repurchase of up to 1.0 million shares of our common stock over a two year period. As of September 30, 2017 , we have reacquired 163,529 shares of our common stock at an average price of $18.60 per share, or an aggregate of $3.0 million . Stock-based Compensation Awards: We sponsor an Executive Incentive Compensation Plan, which provides for the award of stock-based compensation, including options, stock appreciation rights, restricted stock and other stock-based incentive compensation awards to key employees, directors and independent agents and consultants. We implemented a comprehensive, consolidated incentive compensation plan upon shareholder approval at our Annual Meeting of Shareholders on May 7, 2009, referred to as the 2009 Plan, which was amended and restated at our 2014 Annual Meeting of Shareholders, held on May 8, 2014, to increase the maximum number of shares issuable under the 2009 Plan by 500,000 . The maximum number of common shares issuable under the 2009 Plan is 1,500,000 plus (a) the number of shares with respect to awards previously granted under our preexisting plans that terminate without being exercised, expire, are forfeited or canceled, plus (b) the number of shares that remain available for future issuance under our preexisting plans plus (c) the number of shares that are surrendered in payment of any awards or any tax withholding with respect thereto. Common stock issued upon exercise of stock options is settled with authorized but unissued shares available. Under the 2009 Plan, the exercise price of option awards equals the market price of our common stock on the date of grant, and each award has a maximum term of ten years. As of September 30, 2017 , there were 219,230 total shares remaining issuable under the 2009 Plan. The aggregate compensation cost charged against income with respect to awards issued under the 2009 Plan and the 2009 Employee Stock Purchase Plan, referred to as the 2009 ESPP, was $1.3 million and $1.3 million for the nine months ended September 30, 2017 and 2016 , respectively. Income tax benefit on exercises of non-qualified stock options was $0.3 million and $0.4 million for the nine months ended September 30, 2017 and 2016 , respectively. As of September 30, 2017 , total unrecognized compensation cost related to unvested awards was $2.6 million and is expected to be recognized over a weighted-average period of 1.82 years . Stock Options: A summary of the status of stock option activity under our stock-based compensation plans as of September 30, 2017 and changes during the year to date is presented below: 2017 Options Weighted Avg Exercise Price Weighted Avg Remaining Contractual Term Aggregate Intrinsic Value (In thousands) Outstanding - January 1 902,775 $ 19.43 Granted 185,500 30.50 Exercised (74,699 ) 19.04 $ 571 Forfeited or Expired (3,381 ) 24.67 Outstanding - September 30 1,010,195 $ 21.47 3.55 $ 11,593 Exercisable - September 30 585,522 $ 18.58 2.45 $ 8,414 Outstanding options, consisting of five -year to ten -year incentive and non-qualified stock options, vest and become exercisable ratably over a three to five year period from the date of grant. The outstanding options expire from five to ten years from the date of grant or upon termination of employment with Exactech, and are contingent upon continued employment during the applicable option term. Certain non-qualified stock options are granted to non-employee sales agents and consultants, and they typically vest ratably over a period of three to four years from the date of grant and expire in five years or less from the date of grant, or upon termination of the agent's or consultant’s contract with Exactech. Stock options for the purchase of shares of $185,500 and $18,500 common stock were granted during the nine months ended September 30, 2017 and 2016 , respectively. Restricted Stock Awards: Under the 2009 Plan, we may grant restricted stock awards to eligible employees, directors, and independent agents and consultants. Restrictions on transferability, risk of forfeiture and other restrictions are determined by the Compensation Committee of the Board of Directors, or the Committee, at the time of the award. During February 2017, the Committee approved equity compensation to the outside members of the Board of Directors for their service on the Board of Directors. The annual compensation for each director consists of the grant of stock awards with an aggregate market value of $77,500 , payable in four equal quarterly grants of common stock based on the market prices of our common stock on the respective dates of grant. The summary information of the restricted stock grants for the first nine months of 2017 is presented below: Grant date February 28, 2017 May 31, 2017 August 31, 2017 Aggregate shares of restricted stock granted 3,985 3,195 3,170 Grant date fair value $ 97,000 $ 97,000 $ 97,000 Weighted average fair value per share $ 24.30 $ 30.30 $ 30.55 During February 2016, the Committee approved equity compensation to the outside members of the Board of Directors for their service on the Board of Directors. The annual compensation for each director consisted of the grant of stock awards with an aggregate market value of $77,500 , payable in four equal quarterly grants of common stock based on the market prices of our common stock on the respective dates of grant. The summary information of the restricted stock grants for the first nine months of 2016 is presented below: Grant date February 29, 2016 May 31, 2016 August 31, 2016 Aggregate shares of restricted stock granted 5,190 3,925 3,485 Grant date fair value $ 97,000 $ 97,000 $ 97,000 Weighted average fair value per share $ 18.65 $ 24.68 $ 27.79 All of the restricted stock awards in 2017 and 2016 were fully vested at each of the grant dates. The restricted stock awards require no service period and thus contain no risk of, or provision for, forfeiture. Employee Stock Purchase Plan: On February 18, 2009, our board of directors adopted the 2009 ESPP, and our shareholders approved the 2009 ESPP at our Annual Meeting of Shareholders on May 7, 2009. Under the 2009 ESPP, employees are able to purchase shares of our common stock at a fifteen percent ( 15% ) discount via payroll deduction, up to a maximum number of shares issuable under the 2009 ESPP of 450,000 . There are four offering periods during an annual period. As of September 30, 2017 , 106,977 shares remained available for purchase under this 2009 ESPP. The fair value of the employees' purchase rights is estimated using the Black-Scholes model. Purchase information and fair value assumptions are presented in the following table: Nine Months Ended September 30, 2017 2016 Shares purchased 30,650 37,749 Dividend yield — — Expected life 1 year 1 year Expected volatility 33% 34% Risk free interest rates 1.0% 0.6% Weighted average per share fair value $5.95 $4.73

Business Acquisition (Notes)

Business Acquisition (Notes)	9 Months Ended
	Sep. 30, 2017
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	12. BUSINESS ACQUISITION AND DIVESTITURE Exactech Australia On February 1, 2016 , we completed the acquisition of all of the outstanding capital stock of Exactech Australia Pty Ltd, an Australia-based company. Exactech Australia was our independent importer and distribution partner in Australia from 2013 through our acquisition of Exactech Australia in 2016. The acquisition was accomplished to further the partnership between us and the team at Exactech Australia and to further service customers in the Asia Pacific area. The aggregate purchase price for Exactech Australia will range from $3.1 million AUD to $7.6 million AUD, of which $1.6 million AUD, or $1.1 million USD at a 0.7034 AUD:USD exchange rate at closing, was paid to the Exactech Australia shareholders in cash at the closing of the acquisition, and the remainder will be paid to such shareholders contingent on the achievement of certain future milestones. The first contingent consideration payment of $1.2 million USD was paid in February 2017, and we expect the final payment to be made during the first quarter of 2018. Consideration also included $2.0 million USD in forgiven accounts receivable that were owed to us as of February 1, 2016. The estimated fair value of the contingent consideration was determined using the following assumptions: discount rate of 3.7% , probability levels of milestone range of outcomes, and expected timing of achievement of contingent consideration earn-out amounts. We financed the acquisition from our operating cash flows. We acquired tangible assets of $2.7 million , assumed liabilities of $0.4 million , intangible assets, comprising customer relationships of $0.5 million , and goodwill of $2.8 million . Upon completion of the acquisition, we effectively concluded a pre-existing distribution agreement for the distribution of our products, which was stated at fair value; therefore, we recognized no impact to the statement of income. The accounting for our acquisition of Exactech Australia was finalized as of December 31, 2016 . The goodwill was determined as the excess of the consideration over the fair value of the net assets acquired, and was due to the synergies we obtained in the extended service in Australia. Goodwill was allocated to the knee, extremity and hip segments based on expected sales for the segments. Pro-forma revenue and earnings for the business combination have not been presented because the effects, both individually and in the aggregate, were not material to our results of operations. Blue Ortho On January 15, 2015 , we completed the acquisition of all of the outstanding capital stock of Blue Ortho SAS, a France-based company. Blue Ortho is the computer-assisted surgical technology development and manufacturing firm that partnered with the Company to develop the ExactechGPS ® Guided Personalized Surgery system. The aggregate purchase price for Blue Ortho is a maximum of €10.0 million , of which €2.0 million , or $2.3 million at a 1.16 EUR:USD exchange rate at closing, was paid to the Blue Ortho shareholders in cash at the closing of the acquisition, and payment of the remainder is contingent on the achievement of certain milestones. We expect the contingent consideration to be paid over the next year due to a change in control clause in the agreement and our pending going private transaction. We acquired tangible assets of $1.5 million , assumed liabilities of $2.9 million , intangible assets, comprising product licenses and designs, of $7.5 million , and goodwill of $6.5 million . Contingent Consideration The following table summarizes the contingent consideration balance and activity for the nine months ended September 30, 2017 , and the year ended December 31, 2016 (in thousands): Exactech Australia Blue Ortho Total Contingent liability balance, December 31, 2015 — 6,222 6,222 Initial fair value of contingent consideration 2,435 — 2,435 Period change in valuation (125 ) 187 62 Payments — (669 ) (669 ) Foreign currency translation effects 63 (201 ) (138 ) Contingent liability balance, December 31, 2016 2,373 5,539 7,912 Period change in valuation (24 ) 108 84 Payments (1,206 ) (1,383 ) (2,589 ) Foreign currency translation effects 179 541 720 Contingent liability balance, September 30, 2017 1,322 4,805 6,127 Current liability 1,322 1,294 2,616 Non-current liability — 3,511 3,511 Due to our expected timing of earn-out payments, a portion of the contingent consideration is classified in other current liabilities on our consolidated balance sheets. The remainder is classified as other non-current liabilities. The change in the period change in valuation contingent consideration during the nine months ended September 30, 2017 was interest expense of $0.1 million and partially offset by a gain from a change in the expectations of contingent payment of $0.1 million . The change in the contingent consideration during the year ended December 31, 2016 included interest expense of $0.3 million and a gain from a change in the expectations of contingent payment of $0.2 million . Both adjustments were recognized in other income (expense) in the consolidated statements of income. Divestiture of Exactech Medical Shanghai In September 2017, we completed the sale of all of our common stock of Exactech Medical Shanghai to Double Medical Technology, Inc. and effectively divested 100% of our ownership in Exactech Medical Shanghai for aggregate consideration payable of $1.6 million . As a result, we disposed of $2.7 million in assets and $1.6 million in liabilities. The consideration is recorded as current receivables in our consolidated balance sheets, and is expected to be paid by the end of 2017. We have entered into a distribution agreement with Double Medical Technology, Inc., pursuant to which they will distribute our product in China. Divestiture of Exactech Taiwan In June 2017, we completed an agreement to issue common stock of Exactech Taiwan to Biogend Therapeutics Co., LTD ("Biogend") and a former employee of Exactech, effectively divesting 82% of our ownership in Exactech Taiwan in exchange for a cash investment, by Biogend, in Exactech Taiwan of $6.5 million . As a result, we disposed of $0.2 million in assets and $0.1 million in liabilities and recognized a $0.1 million equity investment, representing our fair value estimate of our retained 18% ownership in Exactech Taiwan. Additionally, we recognized $0.2 million as the fair value of a long-term note receivable owed to us by Exactech Taiwan. The fair value of our retained investment and note receivable were determined based on management's estimate of the present value of probability scenarios of return on investment and collectability of the note receivable. Divestiture of Spine Business During the first quarter of 2017, we obtained a long-term earn-out receivable for $3.0 million as partial payment to us for the sale of our spine business. The fair value of the receivable is management's estimate based on the present value of estimated milestone payments, and adjusted for collectability assumptions.

Subsequent Event (Notes)

Subsequent Event (Notes)	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
Subsequent Events [Text Block]	13. SUBSEQUENT EVENT Merger Agreement On October 22, 2017, we entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Osteon Holdings, L.P., a Delaware limited partnership (“Parent”), and Osteon Merger Sub, Inc., a Florida corporation and wholly owned subsidiary of Parent (“Merger Sub”). Parent and Merger Sub are affiliates of global private equity firm TPG Capital. Pursuant to the Merger Agreement, upon the terms and subject to the conditions thereof, Merger Sub will merge with and into the Company, with the Company continuing as the surviving corporation and as a wholly owned subsidiary of Parent (the “Merger”). The time the Merger occurs is referred to as the “Effective Time”. In the Merger, each outstanding share of common stock, par value $0.01 per share, of the Company (“Company Common Stock”) will be cancelled and converted into the right to receive $42.00 in cash, without interest thereon (the “Merger Consideration”), other than certain shares of Company Common Stock held by our founders and certain management stockholders who have agreed to exchange, at a valuation of $42.00 per share, a portion of their shares for new equity securities in Parent. Each Company stock option, to the extent outstanding and unexercised as of immediately prior to the Effective Time, whether vested or unvested, will be cancelled as of immediately prior to the Effective Time, and in consideration for such cancellation, the holder thereof will be entitled to receive an amount in cash, without interest, equal to the product of (A) the excess, if any, of (y) the Merger Consideration over (z) the per share exercise price of such Company stock option multiplied by (B) the number of shares of Company Common Stock subject to such Company stock option, less any applicable withholding taxes. Each Company stock option with a per share exercise price that is equal to or greater than the Merger Consideration will be cancelled immediately prior to the Effective Time with no consideration payable to the holder thereof. Each share of restricted Company Common Stock that is outstanding immediately prior to the Effective Time will become fully vested immediately prior to the Effective Time and will be treated as an outstanding share of Company Common Stock, and the holder thereof shall be entitled to receive the Merger Consideration with respect thereto, less any applicable withholding. The obligation of the parties to consummate the Merger is subject to customary closing conditions, including, among other things, the approval of the Merger Agreement and the Merger by our shareholders at a special meeting of shareholders convened for such purpose and the absence of legal restraints and prohibitions against the Merger and the other transactions contemplated by the Merger Agreement. The obligation of each party to consummate the Merger is also conditioned upon certain of the other party’s representations and warranties being true and correct, the other party having performed in all material respects its material obligations under the Merger Agreement and the other party having not suffered a material adverse effect. There is no financing condition to the Merger. On October 22, 2017, we entered into an equity commitment letter, together with TPG Partners VII, L.P., a Delaware limited partnership (the “Fund”), and Parent, pursuant to which, subject to certain conditions, the Fund has committed to make an equity contribution to Parent in an aggregate amount of up to approximately $624.7 million for purposes of consummating the Merger. Amendment to Bylaws On October 22, 2017, the Board of Directors adopted and approved an amendment to the Company’s Bylaws to include an exclusive forum selection provision. Pursuant to this provision, among other things, unless the Company consents in writing to the selection of another judicial forum, the sole and exclusive judicial forum for: (i) any derivative action or proceeding brought on behalf of the Company; (ii) any action asserting a claim of or for breach of a fiduciary duty owed by any current or former director, officer, other employee, or stockholder of the Company to the Company or to the Company’s shareholders, or a claim for aiding and abetting any such breach; (iii) any action asserting a claim against the Company or against any current or former director, officer, other employee, or shareholder of the Company arising pursuant to any provision of the Florida Business Corporation Act, the Company’s articles of incorporation, or the Company’s Bylaws; or (iv) any action asserting a claim against the Company or against any current or former director, officer, other employee, or shareholder of the Company that is governed by the internal affairs doctrine, shall be a state court located within the State of Florida or, if no state court located within the State of Florida has jurisdiction in respect of any of the foregoing actions, the United States District Court for the Northern District of Florida.

Fair Value Measures (Tables)

Fair Value Measures (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The table below provides information on our assets and liabilities that are measured at fair value on a recurring basis: (In Thousands) Total Fair Value at September 30, 2017 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) September 30, 2017 Liabilities Contingent consideration $ 6,127 $ — $ — $ 6,127 Total: $ 6,127 $ — $ — $ 6,127 December 31, 2016 Liabilities Contingent consideration $ 7,912 $ — $ — $ 7,912 Total: $ 7,912 $ — $ — $ 7,912

Goodwill and Other Intangible21

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Goodwill – The following table provides the changes to the carrying value of goodwill for the nine month period ended September 30, 2017 : (in thousands) Extremities Knee Hip Other Total Balance as of December 31, 2016 $ 5,154 $ 6,449 $ 1,301 $ 915 $ 13,819 Goodwill of divested business (81 ) (133 ) (40 ) (13 ) (267 ) Foreign currency translation effects 598 470 138 102 1,308 Balance as of September 30, 2017 $ 5,671 $ 6,786 $ 1,399 $ 1,004 $ 14,860
Schedule of Finite-Lived Intangible Assets by Major Class	Other Intangible Assets – The following table summarizes the carrying values of our other intangible assets at September 30, 2017 and December 31, 2016 : (in thousands) Carrying Value Accumulated Amortization Net Carrying Value Weighted Avg Amortization Period (In Years) Balance at September 30, 2017 Product licenses and designs $ 15,799 $ 6,805 $ 8,994 11.2 Patents and trademarks 4,184 3,520 664 12.9 Customer relationships 1,594 1,142 452 6.9 Balance at December 31, 2016 Product licenses and designs $ 14,842 $ 5,740 $ 9,102 11.5 Patents and trademarks 4,182 3,361 821 14.0 Customer relationships 1,438 962 476 6.9

Hedging Activities And Foreig22

Hedging Activities And Foreign Currency Translation (Tables)	9 Months Ended
	Sep. 30, 2017
Foreign Currency Translation And Hedging Activities [Abstract]
Schedule of Foreign Exchange Contracts, Statement of Financial Position	The following table provides information on the components of our foreign currency activities recognized in the unaudited condensed consolidated statements of income: (in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Foreign currency transactions gain $ 470 $ 155 $ 1,739 $ 1,081 Foreign currency option loss — (82 ) (539 ) (416 ) Foreign currency gain, net $ 470 $ 73 $ 1,200 $ 665

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2017
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	The following table summarizes our classifications of inventory as of September 30, 2017 and December 31, 2016 : (in thousands) September 30, December 31, Raw materials $ 21,804 $ 23,183 Work in process 1,705 1,634 Finished goods on hand 19,736 7,913 Finished goods on loan/consignment 39,439 48,257 Inventory total 82,684 80,987 Non-current inventories 12,799 15,723 Inventories, current $ 69,885 $ 65,264

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Debt consisted of the following at September 30, 2017 and December 31, 2016 : (in thousands) September 30, December 31, Business line of credit payable on a revolving basis, plus interest based on adjustable rate as determined by one month LIBOR based on our ratio of funded debt to EBITDA, 2.50% as of September 30, 2017. 14,000 20,000 Total debt $ 14,000 $ 20,000
Schedule of Maturities of Long-term Debt	The following is a schedule of future debt maturities as of September 30, 2017 , for the years ending December 31 (in thousands): 2017 $ — 2018 — 2019 — 2020 14,000 2021 — Thereafter — $ 14,000

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2017
Revenues from External Customers and Long-Lived Assets [Line Items]
Schedule of Segment Reporting Information, by Segment	Summarized information concerning our reportable segments is shown in the following table (in thousands): Three Months Ended September 30, Extremity Knee Hip Other Corporate Total 2017 Net sales $ 27,684 $ 16,545 $ 11,306 $ 5,869 $ — $ 61,404 Segment profit (loss) 2,935 344 493 152 251 4,175 Total assets, net 53,747 75,444 42,578 17,931 117,505 307,205 Capital expenditures 1,474 1,925 602 476 4,105 8,582 Depreciation and Amortization 997 1,840 734 162 1,476 5,209 2016 Net sales $ 23,394 $ 17,027 $ 11,629 $ 7,869 $ — $ 59,919 Segment profit (loss) 3,369 790 911 (481 ) (41 ) 4,548 Total assets, net 45,513 73,962 41,541 34,219 104,837 300,072 Capital expenditures 1,761 481 1,401 873 2,655 7,171 Depreciation and Amortization 1,103 1,307 957 687 825 4,879 Nine Months Ended September 30, Extremity Knee Hip Other Corporate Total 2017 Net sales $ 87,105 $ 56,198 $ 34,951 $ 19,959 $ — $ 198,213 Segment profit (loss) 11,501 2,644 2,629 490 900 18,164 Total assets, net 53,747 75,444 42,578 17,931 117,505 307,205 Capital expenditures 6,737 4,219 4,259 4,024 8,170 27,409 Depreciation and Amortization 2,799 5,290 2,170 605 4,309 15,173 2016 Net sales $ 73,061 $ 56,432 $ 35,554 $ 26,294 $ — $ 191,341 Segment profit (loss) 11,173 3,223 3,363 (225 ) 99 17,633 Total assets, net 45,513 73,962 41,541 34,219 104,837 300,072 Capital expenditures 4,374 4,577 3,919 5,968 6,149 24,987 Depreciation and Amortization 2,542 5,067 2,320 1,551 2,766 14,246
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]	Geographic distribution of our long-lived assets and inventory is shown in the following table (in thousands): As of: September 30, 2017 December 31, 2016 Domestic International Domestic International Long lived assets, gross $ 183,560 $ 69,532 $ 167,326 $ 63,805 Accumulated depreciation and amortization (93,221 ) (29,680 ) (89,445 ) (23,980 ) Long lived assets, net 90,339 39,852 77,881 39,825 Inventory $ 48,373 $ 34,311 $ 47,538 $ 33,449 Geographic distribution of our sales is summarized in the following table (in thousands): Three Months Ended September 30, 2017 2016 % Inc/Decr Domestic sales $ 43,289 $ 42,242 2.5 International sales 18,115 17,677 2.5 Total sales $ 61,404 $ 59,919 2.5 Nine Months Ended September 30, 2017 2016 % Inc/Decr Domestic sales $ 136,644 $ 131,427 4.0 International sales 61,569 59,914 2.8 Total sales $ 198,213 $ 191,341 3.6

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2017
Stockholders' Equity Note [Abstract]
Schedule of Earnings Per Share Reconciliation	The following is a reconciliation of the numerators and denominators of the basic and diluted EPS computations for net income and net income available to common shareholders: Income (Numerator) Shares (Denominator) Per Share Income (Numerator) Shares (Denominator) Per Share Three Months Ended Three Months Ended (in thousands, except per share amounts) September 30, 2017 September 30, 2016 Net income $ 2,862 $ 3,165 Basic EPS: Net income available to common shareholders $ 2,862 14,352 $ 0.20 $ 3,165 14,123 $ 0.22 Effect of dilutive securities: Stock options 261 247 Diluted EPS: Net income available to common shareholders plus assumed conversions $ 2,862 14,613 $ 0.20 $ 3,165 14,370 $ 0.22 Nine Months Ended Nine Months Ended (in thousands, except per share amounts) September 30, 2017 September 30, 2016 Net income $ 12,277 $ 11,953 Basic EPS: Net income available to common shareholders $ 12,277 14,315 $ 0.86 $ 11,953 14,108 $ 0.85 Effect of dilutive securities: Stock options 263 195 Diluted EPS: Net income available to common shareholders plus assumed conversions $ 12,277 14,578 $ 0.84 $ 11,953 14,303 $ 0.84
Schedule of Stockholders Equity	The following is a summary of the changes in shareholders’ equity for the nine months ended September 30, 2017 : Common Stock Additional Paid-In Capital Retained Earnings Common Stock Held in Treasury Accumulated Other Comprehensive Income (Loss) Total (in thousands) Shares Amount Balance December 31, 2016 14,413 $ 144 $ 87,319 $ 158,432 $ (3,042 ) $ (8,611 ) $ 234,242 Net income — — — 12,277 — — 12,277 Other comprehensive income, net of tax — — — — — 50 50 Exercise of stock options 75 1 1,422 — — — 1,423 Issuance of restricted common stock for services 10 — 290 — — — 290 Issuance of common stock under Employee Stock Purchase Plan 31 — 698 — — — 698 Compensation cost of stock options — — 1,322 — — — 1,322 Balance September 30, 2017 14,529 $ 145 $ 91,051 $ 170,709 $ (3,042 ) $ (8,561 ) $ 250,302
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	A summary of the status of stock option activity under our stock-based compensation plans as of September 30, 2017 and changes during the year to date is presented below: 2017 Options Weighted Avg Exercise Price Weighted Avg Remaining Contractual Term Aggregate Intrinsic Value (In thousands) Outstanding - January 1 902,775 $ 19.43 Granted 185,500 30.50 Exercised (74,699 ) 19.04 $ 571 Forfeited or Expired (3,381 ) 24.67 Outstanding - September 30 1,010,195 $ 21.47 3.55 $ 11,593 Exercisable - September 30 585,522 $ 18.58 2.45 $ 8,414
Schedule of Share-based Compensation, Nonemployee Director Stock Award Plan, Activity	Under the 2009 Plan, we may grant restricted stock awards to eligible employees, directors, and independent agents and consultants. Restrictions on transferability, risk of forfeiture and other restrictions are determined by the Compensation Committee of the Board of Directors, or the Committee, at the time of the award. During February 2017, the Committee approved equity compensation to the outside members of the Board of Directors for their service on the Board of Directors. The annual compensation for each director consists of the grant of stock awards with an aggregate market value of $77,500 , payable in four equal quarterly grants of common stock based on the market prices of our common stock on the respective dates of grant. The summary information of the restricted stock grants for the first nine months of 2017 is presented below: Grant date February 28, 2017 May 31, 2017 August 31, 2017 Aggregate shares of restricted stock granted 3,985 3,195 3,170 Grant date fair value $ 97,000 $ 97,000 $ 97,000 Weighted average fair value per share $ 24.30 $ 30.30 $ 30.55 During February 2016, the Committee approved equity compensation to the outside members of the Board of Directors for their service on the Board of Directors. The annual compensation for each director consisted of the grant of stock awards with an aggregate market value of $77,500 , payable in four equal quarterly grants of common stock based on the market prices of our common stock on the respective dates of grant. The summary information of the restricted stock grants for the first nine months of 2016 is presented below: Grant date February 29, 2016 May 31, 2016 August 31, 2016 Aggregate shares of restricted stock granted 5,190 3,925 3,485 Grant date fair value $ 97,000 $ 97,000 $ 97,000 Weighted average fair value per share $ 18.65 $ 24.68 $ 27.79
Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity	On February 18, 2009, our board of directors adopted the 2009 ESPP, and our shareholders approved the 2009 ESPP at our Annual Meeting of Shareholders on May 7, 2009. Under the 2009 ESPP, employees are able to purchase shares of our common stock at a fifteen percent ( 15% ) discount via payroll deduction, up to a maximum number of shares issuable under the 2009 ESPP of 450,000 . There are four offering periods during an annual period. As of September 30, 2017 , 106,977 shares remained available for purchase under this 2009 ESPP. The fair value of the employees' purchase rights is estimated using the Black-Scholes model. Purchase information and fair value assumptions are presented in the following table: Nine Months Ended September 30, 2017 2016 Shares purchased 30,650 37,749 Dividend yield — — Expected life 1 year 1 year Expected volatility 33% 34% Risk free interest rates 1.0% 0.6% Weighted average per share fair value $5.95 $4.73

Business Acquisition (Tables)

Business Acquisition (Tables)	9 Months Ended
	Sep. 30, 2017
Business Acquisition, Contingent Consideration [Line Items]
Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block]	The following table summarizes the contingent consideration balance and activity for the nine months ended September 30, 2017 , and the year ended December 31, 2016 (in thousands): Exactech Australia Blue Ortho Total Contingent liability balance, December 31, 2015 — 6,222 6,222 Initial fair value of contingent consideration 2,435 — 2,435 Period change in valuation (125 ) 187 62 Payments — (669 ) (669 ) Foreign currency translation effects 63 (201 ) (138 ) Contingent liability balance, December 31, 2016 2,373 5,539 7,912 Period change in valuation (24 ) 108 84 Payments (1,206 ) (1,383 ) (2,589 ) Foreign currency translation effects 179 541 720 Contingent liability balance, September 30, 2017 1,322 4,805 6,127 Current liability 1,322 1,294 2,616 Non-current liability — 3,511 3,511

Fair Value Measures (Details)

Fair Value Measures (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent Consideration Fair Value	$ 6,127	$ 7,912	$ 6,222
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent Consideration Fair Value	6,127	7,912
Liabilities, Fair Value Disclosure, Recurring	6,127	7,912
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent Consideration Fair Value	0	0
Liabilities, Fair Value Disclosure, Recurring	0	0
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent Consideration Fair Value	0	0
Liabilities, Fair Value Disclosure, Recurring	0	0
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent Consideration Fair Value	6,127	7,912
Liabilities, Fair Value Disclosure, Recurring	$ 6,127	$ 7,912

Goodwill And Other Intangible29

Goodwill And Other Intangible Assets (Goodwill) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)
Goodwill [Roll Forward]
Balance as of December 31, 2016	$ 13,819
Goodwill, Other Increase (Decrease)	(267)
Foreign currency translation effects	1,308
Balance as of September 30, 2017	14,860
Extremities
Goodwill [Roll Forward]
Balance as of December 31, 2016	5,154
Goodwill, Other Increase (Decrease)	(81)
Foreign currency translation effects	598
Balance as of September 30, 2017	5,671
Knee
Goodwill [Roll Forward]
Balance as of December 31, 2016	6,449
Goodwill, Other Increase (Decrease)	(133)
Foreign currency translation effects	470
Balance as of September 30, 2017	6,786
Hip
Goodwill [Roll Forward]
Balance as of December 31, 2016	1,301
Goodwill, Other Increase (Decrease)	(40)
Foreign currency translation effects	138
Balance as of September 30, 2017	1,399
Other
Goodwill [Roll Forward]
Balance as of December 31, 2016	915
Goodwill, Other Increase (Decrease)	(13)
Foreign currency translation effects	102
Balance as of September 30, 2017	$ 1,004

Goodwill And Other Intangible30

Goodwill And Other Intangible Assets (Other intangible Assets) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Product licenses and designs
Finite-Lived Intangible Assets [Line Items]
Carrying Value	$ 15,799	$ 14,842
Accumulated Amortization	6,805	5,740
Finite lived intangible assets, net	$ 8,994	$ 9,102
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	11 years 2 months	11 years 6 months
Patents and trademarks
Finite-Lived Intangible Assets [Line Items]
Carrying Value	$ 4,184	$ 4,182
Accumulated Amortization	3,520	3,361
Finite lived intangible assets, net	$ 664	$ 821
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	12 years 11 months	14 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Carrying Value	$ 1,594	$ 1,438
Accumulated Amortization	1,142	962
Finite lived intangible assets, net	$ 452	$ 476
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	6 years 11 months	6 years 11 months

Hedging Activities And Foreig31

Hedging Activities And Foreign Currency Translation (Foreign Currency Transaction and Hedging Gain (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Foreign Currency Transaction [Abstract]
Foreign currency transactions (loss) gain	$ 470	$ 155	$ 1,739	$ 1,081
Gain on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	0	(82)	(539)	(416)
Foreign Currency Gain (Loss)	$ 470	$ 73	$ 1,200	$ 665

Hedging Activities And Foreig32

Hedging Activities And Foreign Currency Translation (Foreign Currency Translation) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Other Comprehensive Income (Loss) [Roll Forward]
Change in currency translation	$ (163)	$ 805	$ 50	$ 2,353
Change in other comprehensive income (loss)	$ (163)	$ 805	$ 50	$ 2,353

Inventories (Narrative) (Detail

Inventories (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Inventory [Line Items]
Inventory, Gross	$ 82,684		$ 82,684		$ 80,987
Inventory allowance			2,903	$ 3,434
Slow Moving [Member]
Inventory [Line Items]
Inventory, Gross	17,300		17,300
Inventory Valuation Reserves	12,700		12,700
Inventory allowance	200	$ 500	1,200	2,100
Discrepant and Obsolete [Member]
Inventory [Line Items]
Inventory allowance	$ 400	$ 600	$ 1,700	$ 1,400

Inventories (Schedule of Invent

Inventories (Schedule of Inventory) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Raw materials	$ 21,804	$ 23,183
Work in process	1,705	1,634
Finished goods on hand	19,736	7,913
Finished goods on loan/consignment	39,439	48,257
Inventory total	82,684	80,987
Non-current inventories	12,799	15,723
Inventories, current	$ 69,885	$ 65,264

Income Tax (Details)

Income Tax (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Operating loss carryforwards	$ 26.7	$ 32.6
Deferred tax assets	8.4	9.5
Valuation allowance	6.2	$ 7.3
Liability for uncertain tax positions	$ 0

Debt (Schedule of Long-term Deb

Debt (Schedule of Long-term Debt) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
Line of credit	$ 14,000	$ 20,000
Line of Credit Facility, Interest Rate at Period End	2.50%

Debt (Schedule of Debt Maturiti

Debt (Schedule of Debt Maturities) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
2,017	$ 0
2,018	0
2,019	0
2,020	14,000
2,021	0
Thereafter	0
Total debt	$ 14,000	$ 20,000

Commitments And Contingencies (

Commitments And Contingencies (Details) - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Legal Disclosure [Abstract]
Amount accured for product liability claims	$ 200,000		$ 25,000
Payments to Acquire Notes Receivable	1,500,000	$ 0
Outstanding commitments for purchase of inventory, raw materials and supplies	14,500,000
Outstanding commitments for purchase of capital equipment	$ 7,500,000

Segment Information (Business S

Segment Information (Business Segments) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Segment Reporting Information [Line Items]
Net Sales	$ 61,404	$ 59,919	$ 198,213	$ 191,341
Segment profit (loss)	4,175	4,548	18,164	17,633
Total assets, net	307,205	300,072	307,205	300,072	$ 294,209
Property, Plant and Equipment, Additions	8,582	7,171	27,409	24,987
Depreciation and Amortization	5,209	4,879	15,173	14,246
Extremity
Segment Reporting Information [Line Items]
Net Sales	27,684	23,394	87,105	73,061
Segment profit (loss)	2,935	3,369	11,501	11,173
Total assets, net	53,747	45,513	53,747	45,513
Property, Plant and Equipment, Additions	1,474	1,761	6,737	4,374
Depreciation and Amortization	997	1,103	2,799	2,542
Knee
Segment Reporting Information [Line Items]
Net Sales	16,545	17,027	56,198	56,432
Segment profit (loss)	344	790	2,644	3,223
Total assets, net	75,444	73,962	75,444	73,962
Property, Plant and Equipment, Additions	1,925	481	4,219	4,577
Depreciation and Amortization	1,840	1,307	5,290	5,067
Hip
Segment Reporting Information [Line Items]
Net Sales	11,306	11,629	34,951	35,554
Segment profit (loss)	493	911	2,629	3,363
Total assets, net	42,578	41,541	42,578	41,541
Property, Plant and Equipment, Additions	602	1,401	4,259	3,919
Depreciation and Amortization	734	957	2,170	2,320
Other
Segment Reporting Information [Line Items]
Net Sales	5,869	7,869	19,959	26,294
Segment profit (loss)	152	(481)	490	(225)
Total assets, net	17,931	34,219	17,931	34,219
Property, Plant and Equipment, Additions	476	873	4,024	5,968
Depreciation and Amortization	162	687	605	1,551
Corporate
Segment Reporting Information [Line Items]
Net Sales	0	0	0	0
Segment profit (loss)	251	(41)	900	99
Total assets, net	117,505	104,837	117,505	104,837
Property, Plant and Equipment, Additions	4,105	2,655	8,170	6,149
Depreciation and Amortization	$ 1,476	$ 825	$ 4,309	$ 2,766

Segment Information (Revenue an

Segment Information (Revenue and Long-term Assets by Geographic Location) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Geographical [Line Items]
Inventory, Gross	$ 82,684		$ 82,684		$ 80,987
Total sales	$ 61,404	$ 59,919	$ 198,213	$ 191,341
Total sales, % Inc/Decr	2.50%		3.60%
Domestic [Member]
Geographical [Line Items]
Long-Lived Assets, Gross	$ 183,560		$ 183,560		167,326
Accumulated Amortization and Depreciation Long Lived Assets	(93,221)		(93,221)		(89,445)
long lived assets, net	90,339		90,339		77,881
Inventory, Gross	48,373		48,373		47,538
Total sales	$ 43,289	42,242	$ 136,644	131,427
Total sales, % Inc/Decr	2.50%		4.00%
International [Member]
Geographical [Line Items]
Long-Lived Assets, Gross	$ 69,532		$ 69,532		63,805
Accumulated Amortization and Depreciation Long Lived Assets	(29,680)		(29,680)		(23,980)
long lived assets, net	39,852		39,852		39,825
Inventory, Gross	34,311		34,311		$ 33,449
Total sales	$ 18,115	$ 17,677	$ 61,569	$ 59,914
Total sales, % Inc/Decr	2.50%		2.80%

Shareholders' Equity (Earnings

Shareholders' Equity (Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Stockholders' Equity Note [Abstract]
Net Income	$ 2,862	$ 3,165	$ 12,277	$ 11,953
Net income available to common shareholders	2,862	3,165	12,277	11,953
Net income available to common shareholders plus assumed conversions	$ 2,862	$ 3,165	$ 12,277	$ 11,953
Net income available to common shareholders (in shares)	14,352,000	14,123,000	14,315,000	14,108,000
Effect of dilutive securities, stock options (in shares)	261,000	247,000	263,000	195,000
Net income available to common shareholders plus assumed conversions (in shares)	14,613,000	14,370,000	14,578,000	14,303,000
Basic earnings per share (in dollars per share)	$ 0.20	$ 0.22	$ 0.86	$ 0.85
Diluted earnings per share (in dollars per share)	$ 0.20	$ 0.22	$ 0.84	$ 0.84
Earnings Per Share, Basic and Diluted, Other Disclosures [Abstract]
Antidilutive shares	184,500	18,500	102,163	183,737

Shareholders' Equity (Statement

Shareholders' Equity (Statement of Equity) (Details) - USD ($)	3 Months Ended						9 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Sep. 30, 2017	Sep. 30, 2016
Class of Stock [Line Items]
Net Income	$ 2,862,000			$ 3,165,000			$ 12,277,000	$ 11,953,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance			$ 234,242,000				234,242,000
Other comprehensive income (loss), net of tax							$ 50,000
Exercise of stock options (in shares)							74,699
Exercise of stock options							$ 1,423,000
Issuance of restricted common stock for services (in shares)	3,170	3,195	3,985	3,485	3,925	5,190
Issuance of restricted common stock for services	$ 97,000	$ 97,000	$ 97,000	$ 97,000	$ 97,000	$ 97,000	$ 290,000
Issuance of common stock under Employee Stock Purchase Plan (in shares)							30,650	37,749
Issuance of common stock under Employee Stock Purchase Plan							$ 698,000
Compensation cost of stock options							1,322,000
Balance	$ 250,302,000						$ 250,302,000
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance (in shares)			14,413,000				14,413,000
Balance			$ 144,000				$ 144,000
Exercise of stock options (in shares)							75,000
Exercise of stock options							$ 1,000
Issuance of restricted common stock for services (in shares)							10,000
Issuance of restricted common stock for services							$ 0
Issuance of common stock under Employee Stock Purchase Plan (in shares)							31,000
Issuance of common stock under Employee Stock Purchase Plan							$ 0
Balance (in shares)	14,529,000						14,529,000
Balance	$ 145,000						$ 145,000
Additional Paid-In Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance			87,319,000				87,319,000
Exercise of stock options							1,422,000
Issuance of restricted common stock for services							290,000
Issuance of common stock under Employee Stock Purchase Plan							698,000
Compensation cost of stock options							1,322,000
Balance	91,051,000						91,051,000
Retained Earnings
Class of Stock [Line Items]
Net Income							12,277,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance			158,432,000				158,432,000
Balance	170,709,000						170,709,000
Treasury Stock, Common [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance			(3,042,000)				(3,042,000)
Balance	(3,042,000)						(3,042,000)
Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance			$ (8,611,000)				(8,611,000)
Other comprehensive income (loss), net of tax							50,000
Balance	$ (8,561,000)						$ (8,561,000)

Shareholders' Equity Shareholde

Shareholders' Equity Shareholders' Equity Treasury Stock (Details) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased	1,000,000
Stock Repurchase Program, Period in Force	2 years
Treasury Stock, Shares, Acquired		163,529
Treasury Stock Acquired, Average Cost Per Share		$ 18.60
Treasury Stock, Value, Acquired, Cost Method		$ 3

Shareholders' Equity (Share Bas

Shareholders' Equity (Share Based Compensation) (Details) - USD ($)	3 Months Ended							9 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2014	Sep. 30, 2017	Sep. 30, 2016	May 08, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding - January 1, Options (in shares)			902,775					902,775
Granted, Options (in shares)								185,500	18,500
Exercised, Options (in shares)								(74,699)
Forfeited or Expired, Options (in shares)								(3,381)
Outstanding - September 30, Options (in shares)	1,010,195							1,010,195
Exercisable -September 30, Options (in shares)	585,522							585,522
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Outstanding - January 1, Weighted Avg Exercise Price (in dollars per share)			$ 19.43					$ 19.43
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value								30.50
Exercised, Weighted Avg Exercise Price (in dollars per share)								19.04
Forfeited or Expired, Weighted Avg Exercise Price (in dollars per share)								24.67
Outstanding - September 30, Weighted Avg Exercise Price (in dollars per share)	$ 21.47							21.47
Exercisable - September 30, Weighted Avg Exercise Price (in dollars per share)	$ 18.58							$ 18.58
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized							500,000
Shares authorized										1,500,000
Remaining shares issuable under 2009 Plan	219,230							219,230
Allocated Share-based Compensation Expense								$ 1,300,000	$ 1,300,000
Income tax benefit								300,000	400,000
Unrecognized compensation cost related to unvested awards	$ 2,600,000							$ 2,600,000
Recognition weighted-average period								1 year 9 months 25 days
Exercised, Aggregate Intrinsic Value (In thousands)								$ 571,000
Outstanding - September 30, Weighted Avg Remaining Contractual Term								3 years 6 months 17 days
Outstanding - September 30, Aggregate Intrinsic Value (In thousands)	11,593,000							$ 11,593,000
Exercisable - September 30, Weighted Avg Remaining Contractual Term								2 years 5 months 11 days
Exercisable - September 30, Aggregate Intrinsic Value (In thousands)	$ 8,414,000							$ 8,414,000
Restricted Stock Awards Disclosure [Abstract]
Restricted Stock Awards, Value, Granted To Director								77,500	$ 77,500
Aggregate shares of restricted stock granted (in shares)	3,170	3,195	3,985	3,485	3,925	5,190
Issuance of restricted common stock for services	$ 97,000	$ 97,000	$ 97,000	$ 97,000	$ 97,000	$ 97,000		$ 290,000
Weighted average fair value per share (in dollars per share)	$ 30.55	$ 30.30	$ 24.30	$ 27.79	$ 24.68	$ 18.65
Maximum
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Incentive Stock Option Plan, Term								10 years

Shareholders' Equity (Employee

Shareholders' Equity (Employee Stock Purchase Plan) (Details)	9 Months Ended
	Sep. 30, 2017period$ / sharesshares	Sep. 30, 2016$ / sharesshares	May 02, 2016shares
Stockholders' Equity Note [Abstract]
ESPP, discount from market price	15.00%
Number Of Offering Period In Annual Period | period	4
ESPP reserved shares			450,000
ESPP remaining reserved shares	106,977
Shares purchased	30,650	37,749
Dividend yield	0.00%	0.00%
Expected life	1 year	1 year
Expected volatility	33.00%	34.00%
Risk free interest rates	0.95%	0.60%
Weighted average per share fair value (in dollars per share) | $ / shares	$ 5.95	$ 4.73

Business Acquisition Business C

Business Acquisition Business Combination Text(Details) $ in Thousands, € in Millions, AUD in Millions	Feb. 01, 2016USD ($)$ / AUD	Feb. 01, 2016AUD	Jan. 15, 2015USD ($)$ / €	Jan. 15, 2015EUR (€)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)	Feb. 01, 2016AUD$ / AUD	Jan. 15, 2015EUR (€)$ / €
Business Acquisition [Line Items]
Contingent Consideration Period Change in Valuation, Interest					$ 100		$ 300
Contingent Consideration Period Change in Valuation, Estimate Adjustment					(100)		(200)
Contingent Consideration Payment					2,589	$ 669	669
ExacAustralia [Member]
Business Acquisition [Line Items]
Business Acquisition, Effective Date of Acquisition	Feb. 1, 2016	Feb. 1, 2016
Business Acquisition, Percentage of Voting Interests Acquired	100.00%							100.00%
Business Combination, Consideration Transferred	$ 1,100	AUD 1.6
Foreign Currency Exchange Rate, Translation | $ / AUD	0.7034							0.7034
Contingent Consideration Payment					1,206		0
Business Combination, Consideration Transferred, Other	$ 2,000
Fair Value Inputs, Discount Rate	3.70%	3.70%
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	$ 2,700
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	(400)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	500
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	$ 2,800
Blue Ortho [Member]
Business Acquisition [Line Items]
Business Acquisition, Effective Date of Acquisition			Jan. 15, 2015	Jan. 15, 2015
Business Acquisition, Percentage of Voting Interests Acquired			100.00%						100.00%
Business Combination, Consideration Transferred			$ 2,300	€ 2
Foreign Currency Exchange Rate, Translation | $ / €			1.16						1.16
Contingent Consideration Payment					$ 1,383		$ 669
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets			$ 1,500
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities			(2,900)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles			7,500
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net			$ 6,500
Minimum [Member] | ExacAustralia [Member]
Business Acquisition [Line Items]
Business Combination Consideration Recognized | AUD								AUD 3.1
Maximum | ExacAustralia [Member]
Business Acquisition [Line Items]
Business Combination Consideration Recognized | AUD								AUD 7.6
Maximum | Blue Ortho [Member]
Business Acquisition [Line Items]
Business Combination Consideration Recognized | €									€ 10

Business Acquisition Business47

Business Acquisition Business Combination Table (Details) $ in Thousands, € in Millions, AUD in Millions	Feb. 01, 2016USD ($)	Feb. 01, 2016AUD	Jan. 15, 2015USD ($)	Jan. 15, 2015EUR (€)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Business Acquisition [Line Items]
Contingent Consideration Period Change in Valuation, Interest					$ 100		$ 300
Contingent Consideration Fair Value					6,127		7,912	$ 6,222
Contingent Consideration Initial Fair Value							2,435
Contingent Consideration Period Change In Valuation					84		62
Contingent Consideration Period Change In Valuation					(100)		(200)
Goodwill					14,860		13,819
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability					1,785	$ 2,377
Contingent Consideration Payment					(2,589)	$ (669)	(669)
Contingent Consideration Translation Adjustment					720		(138)
Business Combination, Contingent Consideration, Liability, Current					2,616
Business Combination, Contingent Consideration, Liability, Noncurrent					3,511
ExacAustralia [Member]
Business Acquisition [Line Items]
Business Combination, Consideration Transferred	$ 1,100	AUD 1.6
Contingent Consideration Fair Value					1,322		2,373	0
Contingent Consideration Initial Fair Value							2,435
Contingent Consideration Period Change In Valuation					(24)		(125)
Contingent Consideration Payment					(1,206)		0
Contingent Consideration Translation Adjustment					179		63
Business Combination, Contingent Consideration, Liability, Current					1,322
Business Combination, Contingent Consideration, Liability, Noncurrent					0
Blue Ortho [Member]
Business Acquisition [Line Items]
Business Combination, Consideration Transferred			$ 2,300	€ 2
Contingent Consideration Fair Value					4,805		5,539	$ 6,222
Contingent Consideration Initial Fair Value							0
Contingent Consideration Period Change In Valuation					108		187
Contingent Consideration Payment					(1,383)		(669)
Contingent Consideration Translation Adjustment					541		$ (201)
Business Combination, Contingent Consideration, Liability, Current					1,294
Business Combination, Contingent Consideration, Liability, Noncurrent					$ 3,511

Business Acquisition Disposal G

Business Acquisition Disposal Group (Details) $ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)
Exactech Medical Shanghai [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale of Stock, Percentage Ownership Sold	100.00%
Disposal Group, Including Discontinued Operation, Assets	$ 2.7
Disposal Group, Including Discontinued Operation, Liabilities	1.6
Disposal Group, Including Discontinued Operation, Consideration	$ 1.6
Exactech Taiwan [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale of Stock, Percentage Ownership Sold	82.00%
Other Ownership Interests, Contributed Capital	$ 6.5
Disposal Group, Including Discontinued Operation, Assets	0.2
Disposal Group, Including Discontinued Operation, Liabilities	0.1
Other Investments	$ 0.1
Sale of Stock, Percentage of Ownership after Transaction	18.00%
Notes, Loans and Financing Receivable, Net, Noncurrent	$ 0.2
U.S. Spine [Member] [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Consideration	$ 3

Subsequent Event (Details)

Subsequent Event (Details) - Subsequent Event [Member] $ / shares in Units, $ in Millions	Oct. 22, 2017USD ($)$ / shares
Subsequent Event [Line Items]
Common Stock, Par or Stated Value Per Share	$ 0.01
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	$ 42
Accounts Receivable, Net | $	$ 624.7