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Business Europe

The Straumann Group aims to invest more than ever in capacity expansion, new segments and markets. (Photograph: ESB Professional/Shutterstock)
0 Comments Aug 22, 2017 | Business Europe

Straumann invests in new markets; acquires Dental Wings and ClearCorrect

Post a comment by Dental Tribune International

BASEL, Switzerland: Seeking to expand its investment in new segments and markets, the Straumann Group, a global leader in tooth replacement solutions, is acquiring ClearCorrect, a US-based provider of clear aligner products. Furthermore, the company is increasing its stake in Canadian digital dental technology provider Dental Wings from 55 per cent to full ownership. Additionally, it has announced the acquisition of shares in Spanish aligner producer Geniova Technologies and the completion of its acquisition of a stake in Rapid Shape, a German manufacturer of 3-D printing systems.

Headquartered in Switzerland, the Straumann Group currently employs more than 4,200 people worldwide and its products are available in more than 100 countries. Reporting an organic revenue growth of 14 per cent for the first half of 2017, driven by double-digit increases in all of its businesses, Straumann aims to continue its strong performance and strengthen its market position by entering new business fields and partnerships.

By acquiring Texas-based ClearCorrect, Straumann is entering the field of orthodontics for a total consideration of approximately US$150 million. ClearCorrect is a fast-growing company that generated sales of US$32 million in 2016.

The full ownership of Dental Wings, whose solutions cover the entire digital workflow, will be completed for a consideration of approximately US$40 million. Dental Wings’ products and services will be sold under Dental Wings, Straumann, and other brands—as they are today. Founded in 2007, Dental Wings is headquartered in Montreal in Canada, and its products are distributed in over 50 countries. 

The acquisition of both ClearCorrect and Dental Wings is expected to be completed by the end of this year.

Straumann has also acquired a 38 per cent stake in Geniova Technologies. The small entrepreneurial company in Spain has pioneered an innovative hybrid approach combining the advantages of clear aligner systems with the benefits of conventional brackets. The deal includes the right to become the exclusive distributor of Geniova products.

The group announced that its deal to acquire a 35 per cent stake in Rapid Shape has been completed. The Straumann-branded 3-D printers, which have been integrated into the CARES and Dental Wings workflows, are now entering limited market release.

“Having come close to our goal of becoming a total solution provider in tooth replacement, we began looking into attractive complementary fields to see if we could create opportunities for further growth and synergies,” said Marco Gadola, CEO of the Straumann Group, explaining the rationale and timing of the deals. “Orthodontic treatments are often combined with implant procedures and we see many commonalities on the digital side—for example in scanning, designing and 3D printing or additive manufacturing.”

The Straumann Group is currently creating a global digital business unit to bring together its new acquisitions and its existing digital activities and accelerate their global expansion. The unit will be led by Mike Rynerson, who will be returning to Straumann after having been CEO of Dental Wings for the past four years.

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