Cadent Acquired by Align Technologies for $190 Million

Cadent and Align will develop Align’s Invisalign software to run on Cadent scanners

Published in Globes on March 30, 2011


Dental imaging device developer Cadent Holdings Inc. has been acquired by Align Technologies Inc. (Nasdaq: ALGN) for $190 million in cash. Based in Carlstadt, New Jersey, and with an R&D center in Or Yehuda, Cadent provides 3D digital scanning solutions for orthodontics and dentistry.

Align estimates that the acquisition of Cadent will reduce its GAAP-based earnings per share in fiscal 2011, and that its non-GAAP earnings per share will be $0.70-0.75, excluding acquisition related costs. Align expects the acquisition to contribute to its net profit in fiscal 2012.

Cadent and Align signed a cooperation agreement on January 2 to jointly develop Align’s Invisalign software applications that will run on Cadent scanners.

Cadent has raised $75 million since it was founded in 1995. Investors include Apax Partners, Pitango Venture Capital, Star Ventures, Goldman Sachs, JPMorgan, SV Life Sciences, and Fortissimo Capital, which led a $15 million financing round with a $10 million investment in August 2009. Fortissimo will receive $30 million on its stake in Cadent.

Cadent develops products and services for restorative dentistry and orthodontics, including intra-oral scanners. Current treatment involves the use of plaster molds. Cadent’s CAD/CAM scanners enable precise adjustments of bridges, implants, and false teeth. Its products can also show how the mouth will look after the restorative dentistry or implant.

Cadent’s Or Yehuda R&D center employs 70 of the company’s 250 employees.


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