Memphis, Tennessee-based medical device company, CrossRoads® Extremity Systems, and New York City-based private equity firm HealthpointCapital, LLC have announced that HealthpointCapital will acquire controlling interest in CrossRoads. The terms of the transaction were not disclosed. MB Venture Partners, the Memphis-based investment firm, which was formerly the largest investor in CrossRoads, will retain a significant investment in the company.
CrossRoads Technology
Founded in 2014, CrossRoads Extremity Systems develops and markets technologies for physicians treating musculoskeletal disorders of the foot and ankle. CrossRoads signature innovation is the Active Stabilization® technology, which simultaneously offers enhanced stability with continuous compression and optimizes conditions for bone healing in fusion procedures.
CrossRoads differentiates itself from other suppliers by offering a “hybrid implant solutions designed to address the most common rearfoot, midfoot and forefoot corrective procedures.” More specifically, CrossRoads Active Stabilization technology is sold to treat:
- MPJ [metatarsophalangeal joint fusion] – low profile design to match the anatomy of the patient offered in plates with 0,5, and 10 degrees of dorsiflexion
- Medial Column – medial column fusion anatomically designed with three options (proximal, distal, tri-joint) to address deformities in the medial column
- Lapidus – hybrid implant system with a low profile anatomic plate design
- T/N [talonavicular] Fusion – hybrid implant system with a low profile anatomic plate and 15 and 18mm clip options
- TMT [tarsometatarsal] – low profile anatomic plate design with four-hole and 5-hole plate options
CrossRoads also developed the EcoSMART® Instrument Service, which provides customers with gamma sterilized, reusable instruments which helps hospitals to reduce the inefficiencies of traditional non-sterile instrument trays and eliminates the waste associated with typical disposable instruments.
CrossRoads EcoSMART instrument kits are packaged in an ISO 7 (Class 10,000) certified cleanroom. After a validated disinfection and cleaning process and prior to packaging, instruments undergo an additional ultrasonic cleaning, DI water rinsing, and 70% IPA ultrasonic clean/rinse.
CrossRoads reports that its EcoSMART technology has already saved its customers over $700,000.
The CrossRoads products are:
- DynaFORCE® Fusion System – a unique active stabilization plate and clip system on the market
- CrossTIE® Hammertoe – for treating correcting hammertoe deformity
- STRoPPTM Plantar Plate – a single tunnel repair of plantar plate
- Nitinol Clips – DynaFORCE MotoClip Max and HiMAX Clips, continuous compression implants
- Forefoot/Midfoot Clips – DynaFORCE MotoClip Max and HiMAX Clips, continuous compression implants
- Step – continuous compression implants
- Bone Screws – headed, headless, snap-off, and MotoBANDTM
- Allograft/Wedges – biological solutions for the foot and ankle
