Straumann Group Announces Acquisitions of Dental Wings, ClearCorrect, Geniova

 Straumann Group Announces Acquisitions of Dental Wings, ClearCorrect, Geniova

Straumann Group recently acquired Dental Wings, Clear Correct and a 38% stake in Geniova.

Straumann previously owned a 55% stake in Dental Wings, a supplier of CAD/CAM software and scanner technology, according to a press release. The shareholders of Dental Wings agreed to sell the remaining shares to Straumann Holding AG, making Dental Wings a fully-owned Straumann Group company.

Dental Wings products and services will be sold under Dental Wings, Straumann and other brands as they are today. They’ll be sold by Straumann and the Dental Wings worldwide network of distribution partners.

As part of a new initiative to enter the orthodontics market, Straumann Group also acquired Clear Correct, a clear aligners manufacturer, for a total consideration of approximately $150 million, according to a press release. This investment will help ClearCorrect improve its products and expand to offer the Flex and Unlimited treatment options to more providers around the world.

ClearCorrect will continue to design and manufacture clear aligners in Round Rock, Texas, under the ClearCorrect brand name.

Straumann has also acquired a 38% stake in Geniova, a small entrepreneurial company in Spain that combines the advantages of clear-aligner systems with the benefits of conventional brackets, according to a press release.

The transactions are expected to be completed by the end of the year and will be financed using the Group’s cash and treasury shares.

Straumann also recently completed a deal to acquire a 35% stake in Rapid Shape GmbH, a company focused on 3D printing technologies. The Straumann-branded 3D printers, which have been integrated into the CARES and Dental Wings workflows, are now entering limited market release.

Straumann is creating a global Digital Business Unit to bring these and its existing digital activities together and to accelerate global expansion. Mike Rynerson, CEO of Dental Wings, will serve as head of this new unit.

View Full Press Release

View Full Press Release

View Full Press Release

Source: Straumann Group

  • <<
  • >>

Comments