In a tumultuous year for the medtech industry, the combination of strong sales growth and promising clinical trial results from glucagon-like peptide 1 agonists (GLP-1s) created a seismic shift in the medtech stock market, triggering one of the largest dips in market value that analysts have seen in years. While analysts said the medtech stock market […]
Align Technology
How GLP-1s tanked and reshaped the medtech stock market in 2023
How does medtech CEO compensation compare?
Medtech CEO compensation averaged $10.5 million during the companies’ most recent fiscal years. That number from our recent MassDevice analysis may seem like a lot to an average person — but not as much in the world of corporate CEOs. In fact, the average compensation of S&P 500 company CEOs was $25.2 million in 2022, […]
Align Technology acquires 3D printing company Cubicure
Align Technology (Nasdaq:ALGN) announced that it completed the acquisition of 3D printing company Cubicure. Cubicure offers 3D printing solutions for polymer additive manufacturing. It develops, produces and distributes innovative materials, equipment and processes for novel 3D printing solutions. Tempe, Arizona-based Align plans for the acquisition to support and scale its strategic innovation roadmap and strengthen […]
Align Technology wins FDA nod for Invisalign palatal expander system
Align Technology (Nasdaq:ALGN) announced today that the FDA granted 510(k) clearance for its Invisalign palatal expander system. The direct 3D-printed device provides rapid expansion and subsequent holding of skeletal and/or dental narrow maxilla (upper jaw). It enables primary, mixed or permanent dentition during the treatment of growing patients. FDA clearance covers broad patient applicability, including […]
Align Technology makes $100M open market stock repurchase
Align Technology (Nasdaq:ALGN) announced today that it plans to repurchase $100 million of its own common stock. Tempe, Arizona-based Align Technology’s open market repurchase falls under its $1 billion stock repurchase program. The company’s board approved the program in January 2023. Align Technology executed a $250 million repurchase in February of this year with Citibank. […]
Intuitive appoints Align Technology exec to its board
Intuitive announced that it appointed Align Technology executive Sreelakshmi Kolli to its board of directors. Kolli currently serves as EVP and chief digital officer at Align, the maker of Invisalign clear aligners and other dental tech. Her appointment to Intuitive’s board of directors went into effect on Oct. 27, 2023. “Sree has deep expertise in applying technology to transform industries, enable business growth and […]
Align Technology announces $250M accelerated share repurchase program
Align Technology (Nasdaq:ALGN) announced today that it entered into an agreement to repurchase $250 million of its common stock. The company also executed a $1 billion stock repurchase agreement announced in May 2021. Align took care of one buyback in October 2022 through a $200 million repurchase with Goldman Sachs. Align’s board officially approved the current […]
Align Technology launches Invisalign palatal expanders
Align Technology (Nasdaq:ALGN) announced that it today introduced its proprietary, patented Invisalign palatal expander system. The direct 3D-printed device provides rapid expansion and subsequent holding of skeletal and/or dental narrow maxilla (upper jaw). It enables primary, mixed or permanent dentition during the treatment of growing patients. Align said the Invisalign palatal expander is its first […]
SmileDirectClub to appeal order to pay Align Technology $63M
SmileDirectClub (Nasdaq:SDC) intends to appeal an arbitration decision ordering it to pay $63 million to Align Technology (Nasdaq:ALGN). Align Technology announced this week that the Superior Court, State of California, County of Santa Clara, issued an order granting a petition from Align. It confirmed and denied SmileDirectClub’s petition to vacate the $63 million arbitration award […]
Align Technology stock soars after hours on Street-beating Q2
Align Technology (Nasdaq:ALGN) shares are on the rise after the market closed today following second-quarter results that beat the consensus forecast. Shares of ALGN ticked up 11.2% to $378 apiece after hours today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished the day up 0.6%. The […]
Align Technology enters $250M accelerated stock repurchase agreement
Align Technology (Nasdaq:ALGN) announced today that it entered into a new accelerated stock repurchase agreement with Citibank. Tempe, Arizona-based Align agreed to repurchase $250 million of its common stock. It falls under its $1 billion stock repurchase agreement announced in May 2021. The company’s most recent buyback took place in October 2022 through a $200 […]