Align Technology

Align Technology is a manufacturer of 3D digital scanners and clear aligners used in orthodontics. It is headquartered in San Jose, California; it manufactures the aligners in Juarez, Mexico and its scanners in Israel and China.

Align Technology, Inc.
Public
Traded as
ISINUS0162551016 
IndustryOrthodontics devices
Founded1997
FoundersZia Chishti, Kelsey Wirth
HeadquartersSan Jose, California, USA
Area served
Worldwide
Key people
Joe Hogan
(President) & (CEO)
Productsclear aligners, scanners
Revenue $1.966 billion (FY 2018)[1]
$466.56 million (FY 2018)[1]
$400.24 million (FY 2018)[1]
Total assets $2.05 billion (FY 2018)[1]
Total equity $1.25 billion (FY 2018)[1]
Number of employees
11,660 (Dec 2018)[1]
Websitealigntech.com

History

Align Technology was founded by Zia Chishti and Kelsey Wirth in 1997 and began working on the development of a clear aligner.[2] Align received FDA clearance to market the Invisalign system in 1998 and it was first marketed in 2000.[2] Align Technology went public on January 26, 2001 on the Nasdaq Stock Market.[3] [4][5]

In March 2011 Align acquired the Israeli company Cadent for $190 million; Cadent manufactured intraoral scanners that included 3D imaging, as well as software to display the acquired images and to plan treatment.[6]

Joseph M. Hogan joined Align in June 2015, and serves as CEO and President.[7]

The company's sales reached $1 billion for the first time in 2016 and its products were being used in about 8% of people who got braces.[7] In 2017 the company was faced with the challenge of the expiration of its patents on its Invisalign system starting in October 2017 and the beginning of generic competition.[7]

In March 2020, Align Technology announced that it has signed a definitive agreement to acquire Exocad Global Holdings for approximately $418.7 million.[8][9]

See also

References
  1. "Align Technology 2018 Form 10-K". Align Technology. 28 February 2019. Retrieved 25 March 2019.
  2. Phulari, Basavaraj Subhashchandra (2013). History of Orthodontics. JP Medical Ltd. p. 226. ISBN 9789350904718.
  3. "Align Technology Gains 33% After IPO Prices on Low Side". Wall Street Journal. 26 January 2001. Retrieved 7 May 2017.
  4. Johnson, Steve (December 1, 2010). "FDA issues warning to Invisalign maker". Mercury News.
  5. DeNoon, Daniel J. (December 4, 2010). "Invisalign 'Invisible Braces' Maker Gets FDA Warning". Medscape.
  6. Ben-Israel, Adi (30 March 2011). "Dental imaging co Cadent bought for $190m". Globes (in Hebrew).
  7. Tindera, Michela (April 25, 2017). "Out Of Silicon Valley, A Billion-Dollar Orthodontics Business Built With Plastic And Patents". Forbes.
  8. Inc, Align Technology (2020-03-04). "Align Technology to Acquire Global Dental CAD/CAM Software Leader Exocad". GlobeNewswire News Room. Retrieved 2020-03-05.
  9. Surran, SA Editor Carl (2020-03-04). "Align Tech to buy dental software maker Exocad for €376M". Seeking Alpha. Retrieved 2020-03-05.
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