ClearCorrect acquired by global dental leader Straumann Group
(Thomson Reuters ONE) -
ROUND ROCK, Texas, Aug. 17, 2017 (GLOBE NEWSWIRE) -- ClearCorrect, LLC, a
leading manufacturer of clear aligners, is pleased to announce their acquisition
by the Straumann Group, a global leader in tooth replacement solutions, for a
total consideration of approximately $150 million.
For over 10 years, ClearCorrect (a privately-held company) has established
itself as a leader in clear aligner manufacturing, servicing doctors in North
America, Europe, Israel, Australia, and New Zealand. This investment will help
ClearCorrect to improve its products and expand to offer their
popular Flex and Unlimited treatment options to more providers around the world.
Straumann's acquisition is a vote of confidence in ClearCorrect's role in
driving the rapidly-growing clear aligner market. It comes as part of a new
initiative by Straumann to enter the orthodontic market and leverage the power
of digital technology to deliver total orthodontic solutions.
CEO of the Straumann Group, Marco Gadola, says of the union:
"ClearCorrect provides us with technology, expertise and a strong footing in
this field. In return, we offer a global distribution and marketing network, in
addition to brand leverage. With some big changes expected in the clear aligner
industry, our union with ClearCorrect has come together at exactly the right
time. I am delighted that ClearCorrect's entrepreneurial leadership team will
stay with the company and partner with us in supporting customer and patient
needs and in growing the business."
CEO of ClearCorrect, Jarrett Pumphrey says:
"We're excited to be a part of Straumann. We're proud of how far we've come on
our own and now, with the support of a recognized innovator with decades of
industry experience, ClearCorrect has the resources to improve and expand the
way we've always wanted to without compromising our values."
ClearCorrect will continue to design and manufacture clear aligners in Round
Rock, Texas, under the ClearCorrect brand name. ClearCorrect providers can
expect a smooth transition, as the company anticipates no disruptions to its
products or service.
The partnership between ClearCorrect and Straumann will be finalized over the
coming month.
About ClearCorrect
Based in Round Rock, Texas, ClearCorrect is a leading manufacturer of clear
aligners, discreetly correcting malocclusion since 2006. ClearCorrect offers a
more affordable and doctor-friendly approach to tens of thousands of doctors
around the world. For more information, visit clearcorrect.com or call (888)
331-3323.
About Straumann
The Straumann Group (SIX:STMN) is a global leader in tooth replacement solutions
that restore smiles and confidence. It unites global and international brands
that stand for excellence, innovation and quality in tooth replacement and
esthetics, including Straumann, Instradent, Neodent, and Medentika, etkon and
other fully/partly owned companies and partners.
Headquartered in Basel, Switzerland, the Group employs 4200 people worldwide and
its products, solutions and services are available in more than 100 countries
through a broad network of distribution subsidiaries and partners.
CONTACT INFORMATION
ClearCorrect
Elizabeth Coffman
888-331-3323 ext. 1088
ecoffman(at)clearcorrect.com
Straumann
Mark Hill
+41 (0)61 965 13 21
Thomas Konrad
+41 (0)61 965 15 46
corporate.communication(at)straumann.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ClearCorrect, Inc via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 17.08.2017 - 14:00 Uhr
Sprache: Deutsch
News-ID 556944
Anzahl Zeichen: 4256
contact information:
Town:
Round Rock
Kategorie:
Business News
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"ClearCorrect acquired by global dental leader Straumann Group"
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