Align Technology Inc. (NASDAQ: ALGN) is the manufacturer behind Invisalign, the low-maintenance, no-show alternative to braces for straightening teeth.
Instead of gluing braces onto each tooth and manipulating them with wires, the Invisalign system uses intraoral scanning and 3D imaging to map out how the patient’s teeth should move over time. Then a 3D printer produces a whole set of virtually invisible aligners to be worn two weeks at a time. The patient can take them out to eat. And in the case of a rare complication, they aren’t stuck with painful hardware in their mouth while waiting for their next appointment.
The company’s first clear aligners were given FDA approval in 1998, and marketing began two years later. Since then, Align has expanded its footprint worldwide, with more than 13,000 employees, $2 billion in annual revenue, and 7 million patients treated.
In the two decades since Align was founded, the technology behind 3D printing and imaging has improved dramatically. And the company has taken full advantage of those developments.
In 2011, it acquired Israeli company Cadent, which manufactured the leading intraoral scanning system, iTero. The vertical integration of all Cadent’s technology has enabled Invisalign to offer turnkey systems to dentists and orthodontists to get a detailed picture of a patient’s orthodontic profile, then use sophisticated software to project the movement of each individual tooth over the course of treatment. Patients can literally watch their teeth straighten on a screen before signing off.
In late August, IndustryWeek magazine named Align Technology the No. 1 manufacturer in the United States for the first time. Three years ago, that was Apple Inc.’s (NASDAQ: AAPL) spot, and Align didn’t make the list at all. But after popping up at No. 3 last year, Align’s outstanding quality and revenue growth pushed it into the lead.
That’s a good indication that this stock won’t remain undervalued for very long. So if you want to own a piece of America’s top manufacturer, now is the time to make your move.
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