Cranial Technologies

Founded in 1986, Cranial Technologies ("Cranial") is a developer, manufacturer, and provider of custom cranial orthotics dedicated to treating infants with plagiocephaly - a common condition that affects nearly half of all babies born each year. Cranial Technologies manufactures the DOC Band®, a custom cranial orthotic, and maintains a growing network of dedicated clinics across the United States.

Past

Status

2017

Investment Date

2022
Exit Date

Tempe, AZ

Location

< $100 Million

Revenue at Exit

Products & Distribution

Sector

BPOC Value Creation

Proactive Sourcing

BPOC was introduced to the company in 2012 and developed an investment thesis leveraging previous experiences in medical products and multi-site provider businesses.

Human Capital

BPOC recruited a new CEO to facilitate the planned retirement of CEO at the time of BPOC’s investment. In addition, BPOC augmented the management team through several key additions, including Chief Financial Officer, Chief Clinical Officer, VP of Operations, VP of Manufacturing, and multiple regional clinical leaders.

Growth

BPOC supported the development of infrastructure required to accelerate new clinic openings, including site selection, payor contracting, and marketing processes to drive new markets referrals. These investments allowed Cranial to increase annual new clinic openings meaningfully during BPOC's Investment.

Technology and Operations

During BPOC’s investment, Cranial made significant investments in streamlining and automating manufacturing processes, including 3D printing capabilities. Also, Cranial standardized operating practices across all locations to ensure clinical efficacy, safety, and improved compliance protocols. In addition to investing in manufacturing capacity and capabilities (3D printing), Cranial opened a new manufacturing plant to support future growth initiatives.

Details on case studies have been included for illustrative purposes only and have been selected in order to provide examples of the types of investments made by BPOC and do not purport to be a complete list of investments.  A complete list of BPOC investments is available upon request.

Details on selected active and former investments have been included for illustrative purposes only and have been selected in order to provide examples of the types of investments previously made by BPOC that fit within the current investment strategy; select investments do not purport to be a complete list of investments. Representative Past investments only include portfolio companies commencing with Fund III, which represents the time of the current partners tenure and the same investment strategy currently being deployed. Fund I and Fund II investments are included in the full list of investments here: (https://bpoc.com/all-investments/).

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