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Feb 08, 2005
Align Technology Expands Invisalign® Clinical Support by Acquiring General Orthodontic LLC
Align Technology Expands Invisalign® Clinical Support by Acquiring General Orthodontic LLC
SANTA CLARA, Calif., Feb. 8 /PRNewswire-FirstCall/ -- Align Technology, Inc. (Nasdaq: ALGN), the inventor of Invisalign®, a proprietary method of straightening teeth without wires and brackets, today announced the acquisition of General Orthodontic LLC (GO) as part of the company's ongoing commitment to providing clinical support for Invisalign doctors. Privately-held GO has provided a range of Invisalign treatment planning consulting and support services to doctors since 2003.
GO's services are designed to match the level of treatment planning support to the Invisalign experience level of the doctor. As part of Align's clinical education and support program, GO will offer expert, individualized support services as a follow-up to Invisalign certification and other clinical courses. "Many doctors think of our treatment planning consultants as Invisalign mentors," said Richard Treadwell, GO founder and CEO. "Our role is to help the treating doctor organize and optimize a treatment plan, and ask the right questions throughout the process so that they can achieve the desired results for their patient."
"Adding GO to the Align team is the latest step in our initiative to provide enhanced clinical support to Invisalign doctors," stated Thomas M. Prescott, President and Chief Executive Officer of Align Technology, Inc. "The treating doctor is the only arbiter of treatment for the patient, but having clinical support options gives doctors an active partner and additional confidence to help achieve their treatment goals."
Under the terms of the agreement, Align has agreed to purchase GO for approximately $2.4 million, which includes an initial payment of $1.4 million and up to $1.0 million for performance-based earnouts. The effect of the acquisition has already been included in Align's Q1 2005 financial guidance, delivered on January 26, 2005.
About Align Technology, Inc.
Align Technology designs, manufactures and markets Invisalign, a proprietary method for treating malocclusion, or the misalignment of teeth. Invisalign corrects malocclusion using a series of clear, nearly invisible, removable appliances that gently move teeth to a desired final position. Because it does not rely on the use of metal or ceramic brackets and wires, Invisalign significantly reduces the aesthetic and other limitations associated with braces. Invisalign is appropriate for treating adults and older teens. Align Technology was founded in March 1997 and received FDA clearance to market Invisalign in 1998.
To learn more about Invisalign or to find a certified Invisalign doctor in your area, please visit www.invisalign.com or call 1-800-INVISIBLE.
Forward-Looking Statements
This news release contains forward-looking statements, including statements regarding Align's Q1 2005 financial guidance. Forward-looking statements contained in this news release relating to expectations about future events or results are based upon information available to Align as of the date hereof. Readers are cautioned that these forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions that are difficult to predict. As a result, actual results may differ materially and adversely from those expressed in any forward-looking statement. Factors that might cause such a difference include, but are not limited to, risks relating to Align's ability to sustain or increase profitability or revenue growth in future periods while controlling expenses, Align's limited operating history, Align's ability to maintain the adequacy of its internal controls, customer demand for Invisalign, acceptance of Invisalign by consumers and dental professionals, failure of orthodontists and GP dentists to collaborate, Align's third party manufacturing processes and personnel, foreign operational, political and other risks relating to Align's international manufacturing operations, Align's ability to protect its intellectual property rights, potential intellectual property or product liability claims or litigation, Align's ability to manage its rapid growth, competition from manufacturers of traditional braces, Align's ability to ensure that customer and patient information is not compromised, the potential volatility of the market price of Align's common stock and risks related to any deterioration in the general economic condition or specifically in the markets in which Align sells its products. These and other risks are detailed from time to time in Align's periodic reports filed with the Securities and Exchange Commission, including, but not limited to, its Annual Report on Form 10-K for the fiscal year ended December 31, 2003, which was filed with the Securities and Exchange Commission on March 9, 2004, and its Quarterly Reports on Form 10-Q. Align undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
SOURCE Align Technology, Inc.
02/08/2005
CONTACT: investors, Barbara Domingo of Align Technology, Inc., +1-408-470-1000, or investorinfo@aligntech.com; or Shannon Mangum Henderson of Ethos Communication, Inc., +1-678-417-1767, or shannon@ethoscommunication.com/ Web site: http://www.invisalign.com
GO's services are designed to match the level of treatment planning support to the Invisalign experience level of the doctor. As part of Align's clinical education and support program, GO will offer expert, individualized support services as a follow-up to Invisalign certification and other clinical courses. "Many doctors think of our treatment planning consultants as Invisalign mentors," said Richard Treadwell, GO founder and CEO. "Our role is to help the treating doctor organize and optimize a treatment plan, and ask the right questions throughout the process so that they can achieve the desired results for their patient."
"Adding GO to the Align team is the latest step in our initiative to provide enhanced clinical support to Invisalign doctors," stated Thomas M. Prescott, President and Chief Executive Officer of Align Technology, Inc. "The treating doctor is the only arbiter of treatment for the patient, but having clinical support options gives doctors an active partner and additional confidence to help achieve their treatment goals."
Under the terms of the agreement, Align has agreed to purchase GO for approximately $2.4 million, which includes an initial payment of $1.4 million and up to $1.0 million for performance-based earnouts. The effect of the acquisition has already been included in Align's Q1 2005 financial guidance, delivered on January 26, 2005.
About Align Technology, Inc.
Align Technology designs, manufactures and markets Invisalign, a proprietary method for treating malocclusion, or the misalignment of teeth. Invisalign corrects malocclusion using a series of clear, nearly invisible, removable appliances that gently move teeth to a desired final position. Because it does not rely on the use of metal or ceramic brackets and wires, Invisalign significantly reduces the aesthetic and other limitations associated with braces. Invisalign is appropriate for treating adults and older teens. Align Technology was founded in March 1997 and received FDA clearance to market Invisalign in 1998.
To learn more about Invisalign or to find a certified Invisalign doctor in your area, please visit www.invisalign.com or call 1-800-INVISIBLE.
Forward-Looking Statements
This news release contains forward-looking statements, including statements regarding Align's Q1 2005 financial guidance. Forward-looking statements contained in this news release relating to expectations about future events or results are based upon information available to Align as of the date hereof. Readers are cautioned that these forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions that are difficult to predict. As a result, actual results may differ materially and adversely from those expressed in any forward-looking statement. Factors that might cause such a difference include, but are not limited to, risks relating to Align's ability to sustain or increase profitability or revenue growth in future periods while controlling expenses, Align's limited operating history, Align's ability to maintain the adequacy of its internal controls, customer demand for Invisalign, acceptance of Invisalign by consumers and dental professionals, failure of orthodontists and GP dentists to collaborate, Align's third party manufacturing processes and personnel, foreign operational, political and other risks relating to Align's international manufacturing operations, Align's ability to protect its intellectual property rights, potential intellectual property or product liability claims or litigation, Align's ability to manage its rapid growth, competition from manufacturers of traditional braces, Align's ability to ensure that customer and patient information is not compromised, the potential volatility of the market price of Align's common stock and risks related to any deterioration in the general economic condition or specifically in the markets in which Align sells its products. These and other risks are detailed from time to time in Align's periodic reports filed with the Securities and Exchange Commission, including, but not limited to, its Annual Report on Form 10-K for the fiscal year ended December 31, 2003, which was filed with the Securities and Exchange Commission on March 9, 2004, and its Quarterly Reports on Form 10-Q. Align undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
| Investor Relations Contact Barbara Domingo Align Technology, Inc. 408-470-1000 investorinfo@aligntech.com |
Press Contact Shannon Mangum Henderson Ethos Communication, Inc. 678-417-1767 shannon@ethoscommunication.com |
SOURCE Align Technology, Inc.
02/08/2005
CONTACT: investors, Barbara Domingo of Align Technology, Inc., +1-408-470-1000, or investorinfo@aligntech.com; or Shannon Mangum Henderson of Ethos Communication, Inc., +1-678-417-1767, or shannon@ethoscommunication.com/ Web site: http://www.invisalign.com