Cagenix™ Settling into New Headquarters with Room to Expand
Memphis-based dental implants manufacturer anticipates increased staff and sales
MEMPHIS, TN – September 1, 2012
Cagenix is pleased to announce that we have moved our company to 1680 Century Center Parkway. The move into the 6,000-square-foot space, which is almost four times larger than our previous offices, will allow Cagenix to ramp up operations to meet the growing demand for custom dental prosthetics.
Cagenix CEO Daryl Newman has stated that the move could allow our company could grow from 12 to 30 employees and that estimated sales of $2 million in 2012 could triple to $6 million in 2013.
Private investors, including the venture company Innova, which provided seed money when our company launched, have taken note. Ken Woody, President of Innova, declared the firm “very bullish” on Cagenix due to anticipated growth over the “foreseeable future.”
Under Newman’s leadership, Cagenix has taken a deliberately thoughtful approach to growth. “I had a philosophy that I’d rather go slow and get it right than do it fast and have to correct myself,” Newman says. “So we spent probably the first six to nine months testing the market, testing pricing, testing communication, testing our own internal processes to make sure that we were able to press the accelerator and avoid some the issues that start-up companies have.”
Tapping the $1 billion dental implants market, Cagenix’s AccuFrame® and AccuFrame® Plus bars and frameworks are custom-designed, implant-based dental prosthetics. Each one is individually created using a proprietary process and CAD/CAM technology to perfectly match the patient’s anatomy and milled from a single piece of titanium to allow for superior strength. Our unique processes ensure that AccuFrame and AccuFrame Plus devices are the most accurate, diverse and aesthetic custom framework cleared by the FDA.
Newman explains, “Some of our patients might be cancer patients or trauma patients or people who have struggled not with aesthetics, but with being able to eat or with the shape of their face. I’ll get letters from people who had lost their lower jawbone due to cancer, and we created a brand new smile, a brand new ability for them to eat. That’s really exciting to me.”
Russell Olsen, president and CEO of CloudDDS, notes that the market itself is continuing to expand. “As we see an increase in the older population, we’ll see more loss of teeth through disease or injury,” Olsen says. He says that Cagenix’s ability to provide custom-fitted implants in just 10 days “speeds up the process of someone having a fully functional tooth” and that the longevity of AccuFrame and AccuFrame Plus implants means that “these are almost teeth for life.”
Cagenix was founded in 2005 by Carl W. Schulter, DDS, FACP and Past-President of the American College of Prosthodontists to develop and research new devices for implant dentistry. The company is focused on meeting the demand for custom-designed bars and frameworks that offer unsurpassed fit, comfort, aesthetics and convenience. Combining the experience of a respected clinician with the innovation of biomedical engineers has enabled Cagenix to take a fresh approach to the manufacturing and distribution of dental devices. For more information, please visit http://www.cagenix.com.
Innova, founded in 2007 by the Memphis Bioworks® Foundation, is a pre-seed, seed and early-stage investor focused on starting and funding high-growth companies in the Biosciences, Technology and AgBio fields across the state of Tennessee. Innova links capital with great ideas to create groundbreaking products and services. (http://innovamemphis.com)
Memphis Bioworks® Foundation, established in 2001 as a nonprofit 501(c)(3), is bringing together public, private, academic and government entities in a collaborative effort to change the Memphis bioscience landscape. The Foundation is leading initiatives to expand upon the community’s current bioscience niches and demonstrated areas of leadership, and to gain international recognition of Memphis as a center for the development and commercialization of bioscience technology. (www.memphisbioworks.org)
CloudDDS is a dental technology company which specializes in managing, storing, protecting, and communicating practice data. As a cloud-based multi-tenant, interactive platform, CloudDDS caters to the growing need for a patient referral app which is capable of streamlining and simplifying the flow of information among dental professionals and improving patient satisfaction levels; and provides secure, cost-effective, easy-to-use online data backup solutions for keeping critical business/patient information protected 24/7.