Exactech Inc. is restructuring its spine and biologics business segment and has divested its spine assets to ChoiceSpine, a private enterprise headquartered in Knoxville, Tenn.

Terms of the divestiture were not disclosed.

The restructuring initiative and losses on the impairment of spine and biologics assets, including goodwill and spine assets sold, will result in a pretax charge to 2016 earnings in the range of $15 million to $17 million. Exactech expects 2017 revenue to be between $264 million and $272 million with EPS in the range of $1.24 to $1.32.