ClearCorrect Has Been Acquired by the Straumann Group
September 19, 2017
ClearCorrect, LLC (“ClearCorrect” or the “Company”), a leading manufacturer of clear aligners, has been acquired by the Straumann Group (“Straumann”) [SIX:STMN], a global leader in tooth replacement solutions, for a total consideration of approximately $150 million.
ClearCorrect is the #2 manufacturer of clear aligners for the global orthodontic industry. The Company utilizes its proprietary and patented software to develop treatment plans and clear aligners for clinicians and their patients. The Company had also developed one of the world’s largest single-site, healthcare-focused, 3-D printing facilities to service its >5,000 clinician customers throughout the U.S., Australia, Canada, and the U.K. The Company will continue to design and manufacture clear aligners in Round Rock, Texas, under the ClearCorrect brand name.
ClearCorrect retained Cain Brothers in early 2016 as its exclusive financial advisor to assist with ongoing strategic dialogue and further explore its strategic alternatives. In addition to the sale to Straumann, Cain Brothers advised the Company on a secondary equity financing with Leerink Revelation Partners in October 2016.
The Straumann Group, headquartered in Basel, Switzerland, provides its products, solutions and services for tooth replacement and aesthetics in more than 100 countries through a broad network of distribution subsidiaries and partners.