Align Technology

Align Technology, Inc.
Public
Traded as
Industry Orthodontics devices
Founded 1997
Founders Zia Chishti, Kelsey Wirth
Headquarters San Jose, California, USA
Area served
 Worldwide
Key people
 Joseph M. Hogan
(President) & (CEO)
Products clear aligners, scanners
Revenue Increase $ 1.080 billion(FY 2016)[1]
Increase $ 248.92 million (FY 2016)[1]
Increase $ 189.68 million (FY 2016)[1]
Total assets Increase $ 1.396 billion (FY 2016)[1]
Total equity Increase $ 995.39 million (FY 2016)[1]
Number of employees
 6,060 (Dec 2016)[1]
Website www.aligntech.com

Align Technology is a manufacturer of 3D digital scanners and the Invisalign clear aligners used in orthodontics. It is headquartered in San Jose, California; it manufactures the aligners in Juarez, Mexico and its scanners in Israel.[1]

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]

In 2010 the company received a warning letter from the FDA regarding its failure to report serious reactions to Invisalign.[4][5]

In March 2011 Align acquired the Israeli company Cadent for $190 million; Cadent manufactured intraoral cameras that included 3D scanners, 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] As of 2016 it had 6,060 employees worldwide.[1]

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]

See also

References

  1. 1 2 3 4 5 6 7 8 "Align Technology 2016 Form 10-K" (PDF). Align Technology. 31 December 2016. Retrieved 7 May 2017.
  2. 1 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. 1 2 3 Tindera, Michela (April 25, 2017). "Out Of Silicon Valley, A Billion-Dollar Orthodontics Business Built With Plastic And Patents". Forbes.
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