Align Technology progresses with takeover of Cadent

Align Technology has moved closer to completing its takeover of Cadent Holdings, which is now expected to be finalised within the next month.

The dental supplier has received early termination of the waiting period under the US Hart-Scott-Rodino Antitrust Improvements Act as regards the proposed acquisition, which was agreed by the two companies last month.

Subject to the completion of the remaining customary closing conditions, Align has forecast that the $190 million (116.49 million pounds) deal will be made official in late April or early May 2011.

Once the purchase is complete, Align will be able to expand its presence in the increasingly lucrative intra-oral scanning market by taking control of a specialist provider of 3D digital scanning solutions for orthodontics and dentistry.

Thomas Prescott, Align Technology's president and chief executive officer, said Cadent offers a "strong team of very talented people and a culture similar to ours with the drive, agility and speed necessary to continue delivering innovative solutions for our customers".