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.
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Traded as |
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ISIN | US0162551016 |
Industry | Orthodontics devices |
Founded | 1997 |
Founders | Zia Chishti Kelsey Wirth |
Headquarters | San Jose, California, U.S. |
Area served | Worldwide |
Key people | Joe Hogan (President) & (CEO) |
Products | Clear aligners, scanners |
Revenue | |
Total assets | |
Total equity | |
Number of employees | 11,660[1] (December 2018 ) |
Website | aligntech |
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
- "Align Technology 2018 Form 10-K". Align Technology. 28 February 2019. Retrieved 25 March 2019.
- Phulari, Basavaraj Subhashchandra (2013). History of Orthodontics. JP Medical Ltd. p. 226. ISBN 9789350904718.
- "Align Technology Gains 33% After IPO Prices on Low Side". Wall Street Journal. 26 January 2001. Retrieved 7 May 2017.
- Johnson, Steve (December 1, 2010). "FDA issues warning to Invisalign maker". Mercury News.
- DeNoon, Daniel J. (December 4, 2010). "Invisalign 'Invisible Braces' Maker Gets FDA Warning". Medscape.
- Ben-Israel, Adi (30 March 2011). "Dental imaging co Cadent bought for $190m". Globes (in Hebrew).
- Tindera, Michela (April 25, 2017). "Out Of Silicon Valley, A Billion-Dollar Orthodontics Business Built With Plastic And Patents". Forbes.
- Inc, Align Technology (2020-03-04). "Align Technology to Acquire Global Dental CAD/CAM Software Leader Exocad". GlobeNewswire News Room. Retrieved 2020-03-05.
- Surran, SA Editor Carl (2020-03-04). "Align Tech to buy dental software maker Exocad for €376M". Seeking Alpha. Retrieved 2020-03-05.
External links
- Business data for Align Technology: