SALT LAKE CITY & DENVER–(BUSINESS WIRE)–Crocker Ventures (www.crockerventures.com) today announced that it has acquired TMJ Implants (www.tmj.com) of Golden, Colo., the leading manufacturer of implants for the treatment of temporomandibular joint (TMJ) disorder.
“We feel fortunate we were able to step in.”
As part of the acquisition, a new production facility is being constructed in Golden and will be completed this fall. It will house manufacturing, order processing, and customer service for the company, while sales, marketing and administration will be conducted from Salt Lake City, where Crocker Ventures is headquartered. The company’s Colorado employees will continue to produce the high-quality joint replacement prosthesis for which TMJ Implants has become known.
“TMJ Implants has proven to have the best implant products on the market and a solid position and reputation as a leader in the industry,” said Gary Crocker, president of Crocker Ventures. “Combining the strength of the production team with new ownership, a fresh management lineup and substantial investment in the new facility enables us to keep the very best attributes of TMJ Implants, while ensuring the company will grow and prosper in the near and distant future.”
Crocker Ventures purchased the company out of bankruptcy after it was caught over-leveraged in the economic downturn. In the acquisition, announced to coincide with the annual meeting and scientific sessions of the American Association of Oral and Maxillofacial Surgeons, Crocker Ventures saw a rare opportunity. “Here was an excellent medical device and a top-notch team of employees simply caught in a bad circumstance,” Crocker said. “We feel fortunate we were able to step in.” No reductions in the company’s work force are planned.
TMJ Implants makes and sells the renowned Christensen TMJ Prosthesis System for the treatment of temporomandibular joint disorder. The joint is a small hinge that allows the lower jaw to move, and as with other joints such as the knee and hip, sufficient deterioration or trauma can require joint replacement. TMJ disorders express themselves in a variety of forms, including earache, jaw pain, difficulty opening the mouth and other symptoms.
Focused on patient needs and surgeon flexibility, TMJ Implants offers unparalleled options for temporomandibular joint repair. These include implants in either standardized stock components, or customized, patient-specific versions of the product. Also, implants are available as either partial or total joint replacements. Notably, TMJ Implants is the only company to offer a partial replacement prosthesis for TMJ disorders, which allows for a simpler and less-invasive procedure when surgeons determine a total joint replacement is not needed and a more conservative approach is called for.
When construction of the new production facility is complete, the company will reinitiate production and expects to be able to take orders for delivery in the fourth quarter 2010.
About Crocker Ventures
Crocker Ventures (www.crockerventures.com) is an independent, privately-held life science and healthcare investment firm that funds promising seed- and early-stage life science technology companies in four primary areas: diagnostics, biotechnology/pharmaceuticals, drug delivery, and medical devices. We are committed to identifying companies with strong intellectual property positions and significant growth potential that meet large, unmet market needs, and providing them with the capital and operating perspective they need to reach their full potential.
