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News and Information Article
Leader in orthodontic technology poised for further growth
MENLO PARK, Calif. and BOSTON, Aug. 8 // -- 3i, global leader
in venture capital and private equity, announces today that it has led a
series D investment in OrthoClear Holdings, Inc. The financing will be used
to fund OrthoClears projected capital expenditures, sales and marketing as
well as the companys upcoming international expansion into Europe and the
Far East.
OrthoClear was founded in January 2005 with a vision to become a leader
in the orthodontic supply industry. OrthoClear has developed a unique
cosmetic dentistry system for the correct alignment of teeth. OrthoClears
proprietary technology produces aligners that are invisible, customized for
a superior fit, and cost effective for patients and clinicians. The company
has also developed web-based software, OrthoView(TM), so that orthodontists
can track the progress of their treatments. Since product launch in May
2005, OrthoClear has rapidly captured over 20% of the North American clear
removable aligner market with strong revenue growth expected to continue.
In connection with this investment, Paul Badawi, Director with 3i, will
be joining OrthoClears board of directors.
"OrthoClear is a leader in the clear removable aligner market,
providing the most sophisticated and clinically effective solution at a
compelling price," commented Allan Ferguson, Senior Partner with 3i.
"As part of our healthcare strategy, we have been targeting companies
that deliver less invasive yet highly effective cosmetic improvements to
consumers and OrthoClear is leading the way in the less invasive dental
aesthetics space," continued Paul Badawi, Director with 3i and Board member
of OrthoClear. "The Company is uniquely positioned to continue its
aggressive growth. OrthoClear has been very open with us regarding its
outstanding litigation with Align Technology, and, after careful
consideration, the issue has not affected our willingness to invest. We
look forward to working in partnership with the team to exploit this
massive market opportunity."
Peter Riepenhausen, Chairman of the Board of OrthoClear commented:
"We welcome 3is investment in OrthoClear. 3i is the preeminent global
venture investor, and we look forward to working with their outstanding
group of professionals to help build and grow the Company."
Zia Chishti, Chief Executive Officer of OrthoClear added:
"It is a matter of personal pride to welcome 3i into our group of
investors. 3is investment in us validates our efforts over the last
eighteen months, and compliments our position of market leadership. With 3i
as a partner, we look forward to accelerating our growth."
Cowen and Company advised OrthoClear on the financing.
About 3i
3i is a world leader in private equity and venture capital. We focus on
Buyouts, Growth Capital and Venture Capital and invest across Europe, in
the United States and in Asia. Our competitive advantage comes from our
international network and the strength and breadth of our relationships in
business. These underpin the value that we deliver to our portfolio and to
our shareholders.
3is Venture Capital business focuses on investing in scaleable
start-up and early-stage businesses. The business currently manages over
200 investments across Europe, US, Asia and Israel, valued in excess of
$1bn. 3is VC investments fall into four main industry sectors, including
healthcare, telecommunications, software and electronics/semiconductors.
In the last 12 months, 3is VC healthcare team invested in TransMedics,
Ulthera, Zonare, Small Bone Innovations, Carmel Pharma, Endosense, Triage
Wireless, elbion with strong realisations via trade sales of KuDOS
Pharmaceuticals, Arakis, NeoPharma, PHARMetrics, SpineNext, and Arexis and
IPOs for ProStrakan, Arpida, Paion, Jerini, Epigenomics, Phoqus, Ardana.
For more information, go to http://www.3i.com
About OrthoClear
OrthoClear is the technology leader in the clear removable aligner
orthodontics market. OrthoClear offers the most advanced method of
straightening teeth on the market today. Founded in January 2005,
OrthoClear has become the fastest growing company in orthodontic history.
OrthoClear has over 1300 employees, has trained over 5000 doctors in the
use of its products, and in June received over 3000 new orders for its
OrthoClear System. For more information, go to http://www.orthoclear.com
Press contacts:
Tricia Seifert Katja Gehrt
OrthoClear 3i US
469.643.6395 650.470.3210
tricia.seifert@orthoclear.com katja.gehrt@3i.com
This release was issued through eReleases(TM). For more information,
visit http://www.ereleases.com.
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