The Theken Terminal Building
Everything Theken does, he does with style. In 2005, he purchased the historic Akron airport terminal building from the city of Akron to use as his company headquarters.
Theken spent two years and millions of dollars renovating and restoring it to its original art deco splendor. Restoring the terminal was a labor of love: Theken worked for months to match the original 1929 terrazzo floors and had custom windows made to match the originals. Theken tracked down the makers of the original light poles that stood on the property. A footnote on blueprints that Theken obtained from the city noted that Union Metal of Canton, Ohio, which had been around since the 1860s had manufactured them. Theken met with Union Metal and found out that it still had the original castings. Theken had the light poles recast and put them in the identical spot.
The renovation of the terminal building earned Theken awards in Akron and Cleveland, including the 2011 Distinguished Preservation Achievement Award from the Cleveland Restoration Society and Best Commercial Rehabilitation co-winner from the Ohio Heritage awards.
Randy Returns to Orthopedics With…FOUR Companies
With four new orthopedic companies it’s safe to say that Randy Theken is back.
In 2014, Theken founded NextStep Arthropedix. NextStep is an Akron, Ohio-based medical device manufacturer focused on designing, developing, manufacturing, and distributing joint replacement implant products such as hips, knees, and shoulder implant systems.
NextStep is bringing 3D-printing to the field of joint replacement implants. Since the 2017 launch of its iNSitu Hip System, NextStep’s innovative components have been implanted into 4,500 hips. NextStep developed a 3D-printed acetabular cup system to improve upon traditional, plasma-spray coated cups. The issue being the risk that a plasma-sprayed implant might delaminate in the patient.
In January 2019, NextStep released its newly-developed hip system, The Blade. NextStep currently has five products on the market with an additional six at the FDA waiting clearance.
In 2017, Theken launched Slice Manufacturing Studios, a full-spectrum contract manufacturing studio—offering development, prototyping, mechanical testing, final production, and sterile cleaning and packaging. Slice’s new 30,000 square foot laboratory and manufacturing facility is located next to Theken’s historic airport terminal facility that houses NextStep Arthropedix.
In 2018, Theken founded LaunchPoint, a corporate innovation division that focuses on the development of orthopedic devices, materials, and technologies. The Ohio Development Services Agency’s technology-based economic development initiative, Ohio Third Frontier, awarded LaunchPoint an initial $3 million matching fund and Ə Ceramics is one of LaunchPoint’s first strategic investments.
Ə Ceramics manufactures and markets an advanced Mg-PSZ ceramic for the orthopedic implant market. In 2019, Theken acquired this technology from BioPro Medical, an originator of the material 30+ years ago.
Ə Ceramics now owns the proprietary compounding, manufacturing, FDA Master Files, IP, and methods for this ceramic material. Theken’s goal is to provide a hip component material which would be superior to cobalt chrome (CoCr). The Mg-PSZ does not have any risk nickel allergy complications, which has happened with CoCr, while also being able to resist biofilm infection. According to Theken, retrieval studies have demonstrated that this ceramic material is truly superior.
Of course, Ə Ceramics is jumping into a market which is currently dominated in the U.S. by CeramTec GmbH, a German company, and in Japan by Kyocera—which is entering the U.S. market with their ceramic components in 2020.
Collectively, Theken’s four companies are known as the Theken Group.
Words of Wisdom From Theken
Theken has been successful, given back to his community, been an integral part of healing hundreds of thousands of patients and built a life of enduring value and integrity.
What would Theken advise those who aspire to follow in his footsteps?
Theken told OTW, “A lot of people go after what they are passionate about—but at the end of the day, one should consider what their God-gifted talent is. What’s the one thing that you do well with the least amount of effort? So many people follow their passion—and that’s great. They may get there, and they may not. But at the end of the day, if you go do what you’re really God-gifted at with the least amount of effort, you will be successful.”
And…“Stay humble.” Wise words, from Randy Theken.
