Clear orthodontic corrective device maker ClearCorrect said today it inked a deal to be acquired by Straumann Holding for approximately $150 million.

The Round Rock, Texas-based orthodontic device company said it would continue to operate out of its Texas headquarters under its ClearCorrect name, and that the acquisition will allow it to improve and expand the global reach of its Flex and Unlimited treatments.

“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 CEO Jarrett Pumphrey said in a press release.

The acquisition comes as Straumann looks to enter the orthodontic market, ClearCorrect said. The deal is slated to be finalized in September, the company added.

“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,” Straumann Group CEO Marco Gadola said in a prepared release.

In April, Straumann Holding inked a new distribution agreement with Rodo Medical and increased its stake in the dental device developer from 12% to 30% for an undisclosed amount.

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