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A few days ago, Align Technology, a global dental device giant, announced that it has completed the acquisition of 3D printing company CubiCure. The company is a pioneer in direct 3D printing solutions for polymer additive manufacturing, developing, producing, and distributing innovative materials, devices, and processes for novel 3D printing solutions.
Founded in 1997, Align Technology is a global dental giant and the parent company of the well-known brand Invisalign. Over the past 27 years, Align has invested billions of dollars in innovation, including next-generation 3D printing technology for processing high-performance polymers, and has worked with CubCure for many years.
In September 2023, it announced the acquisition of CubiCure. The completion of the acquisition will further strengthen its core competencies in areas such as direct 3D printed orthodontic appliances and support its long-term growth strategy. At the same time, it will help expand Align Technology's innovation capabilities in the field of digital dentistry technology and provide patients with more advanced and personalized solutions. The transaction** is approximately €79 million, subject to final closing adjustments and align adjustments to Cunicure's existing share capital ownership.
Enlarge the layout of 3D printing
Completed the acquisition of multi-year partners
Since 2015, Cubicure has been focusing on the development, production and sale of system solutions for industrial 3D printing of plastic parts. Set the course with digital series production and help shape the digital future of industry;The thermolithography process enables additive manufacturing of precision parts that are more durable than ever before.
With additive manufacturing, Cubic makes it easier and cheaper to produce parts with complex geometries. Flexible, tool-free and individualized production.
As the world's leading medical device company, Align Technology (Invisalign's parent company) has invested billions of dollars in innovation over the past 27 years, including next-generation 3D printing technology for processing high-performance polymers. In the field of 3D printing, it has been working with Cubicure for many years.
On September 8, 2023, Align Technology announced the acquisition of CubaCure GmbH, an Austrian pioneer in polymer 3D printing. The amount of the acquisition agreement is approximately 79 million euros (approximately 6.).RMB 200 million) with the aim of further strengthening Align Technology's core competencies in the field of direct 3D printed orthodontic appliances and supporting long-term growth strategies. According to Align Technology, the acquisition will help expand its innovation capabilities in digital dentistry technology and provide patients with more advanced, personalised solutions.
After a few months, Align Technology closed the deal on January 2 for around US$86.5 million (€79 million)**. However, final closing adjustments and align adjustments to CubiCure's existing share capital ownership are subject to adjustments.
Following the completion of the acquisition, the addition of Cubicure will support and expand Align's strategic innovation roadmap and strengthen Align's digital platform. Cubicure will also expand and expand the printing, materials, and manufacturing capabilities of Align's 3D printing portfolio. The 3D printing portfolio now includes the iInvisalign Palatal Expander System, Align's first direct-to-3D printed orthodontic device, a safe, comfortable, and clinically effective* alternative to traditional palatal dilators.
Culicure's patented thermolithography technology uses a special heating and coating mechanism that enables the processing of high-viscosity resins to produce polymers that are particularly tough and resistant to high temperatures. This high-precision 3D printing process facilitates unprecedented additive manufacturing of elastic parts with amazing material quality performance.
Joe Hogan, President and CEO of Align Technology, said: "The acquisition of Cubicure brings a talented team and unique cutting-edge technology to Align and will allow us to scale our 3D printing business to ultimately print millions of custom devices directly every day. Direct 3D printing enables Align to create 3D printing solutions without having to create a mold first, making 3D printing more sustainable and efficient. I am excited to take this important step in our relationship with CuliSure.
Srini Kaza, Senior Vice President of Product Development at Align, said. "I am glad that they (CUCUBURE) are now regular employees of Align and a member of our R&D organization. We are at the beginning of the next wave of additive manufacturing for direct 3D printing, and I believe we are poised to transform the orthodontic industry again with unprecedented direct printing equipment capabilities. ”
A global dental device giant
Founded in 1997, Align Technology is a company providing orthodontic medical devices in the United States, and its products mainly include Invisalign (Chinese name: Invisalign) brand ** braces, Itero brand intraoral scanners, and its market share ranks first in the industry. An initial public offering of 10,000,000 shares of common stock was made in January 2001 and traded on the NASDAQ National Market,** ALGN.
Align Technology was founded in 1997 by five employees at a small duplex apartment in Redwood City, California, and their dedication is to how technology can be used to straighten teeth. Just a few years later, in 1999, Align Technology launched the Invisalign system, which pioneered the first orthodontic market and soon launched a major national advertising campaign in the United States.
By 2001, Align had manufactured 1 million unique clear aligners, helped hundreds of patients, and trained more than 10,000 doctors.
In the field of 3D printing, Align Technology has worked closely with 3D Systems since its inception to develop a customized solution that uses 3D Systems' Prox SLA 3D printing technology, materials, and software as its best aligner workflow to meet Align's long-term business strategy and goals. Additive manufacturing solutions are used for investment casting to create aligners that meet the patient's needs. Its end-to-end manufacturing workflow produces more than 320,000 unique medical devices (Invisalign** appliances) every day.
Since 2009, Align Technology has leveraged the accuracy and scalability of 3D printing to nearly 6x increase its patient population, with more than 5.8 million patients worldwide**, each with a set of multiple dental appliances. In 2018, Align Technology's partnership with 3D Systems has resulted in highly customized production solutions that support more than 1.6 million Invisalign** appliances each week.
Acquisition of itero intraoral scanners
In 2011, Align Technology acquired the Itero Intraoral Scanner, a natural extension of the Invisalign system's digital** process to enhance patient scanning and improve the patient experience. In the same year, Cadent Holdings was acquired and its orthodontic full arch scanning process was certified, providing physicians with digital impressions with greater accuracy. At that time, Invisalign also began to enter the Chinese market, and then successively opened factories, design centers and several offices.
In 2013, the company acquired a distributor in the Asia-Pacific region, further expanding Align Technology's market presence in the Asia-Pacific region, and in 2017, the company acquired a distributor in Brazil to expand its market presence.
Acquisition of exocad, Inc
In 2020, Align Technology acquired exocad and developed the CAD CAM platform software, which further improved the Invisalign digital diagnosis and treatment process, improved the patient experience, and enhanced the efficiency of design and development. In June of the same year, Align announced a partnership with Medtech Innovator Asia Pacific.
By combining digital** initiatives and mass customization with shape engineering based on biomechanical principles, Align Technology has revolutionized the orthodontic industry. Over the past two decades, the Invisalign system has evolved. The company's portfolio includes the world's most advanced clear aligner system, Invisalign systems, itero intraoral scanners and services, and exo cad cad cam software.
At present, Align Technology has a layout of patents (including designs) in major developed and developing countries around the world, such as the United States, Europe, Australia, New Zealand, Japan, China, South Korea, Israel and India, etc., and has the exclusive distribution rights of Invisalign system in more than 85 countries. It has already helped approximately 150,000 patients and is advancing digital dentistry with Itero intraoral scanners, helping to improve patient outcomes and practical efficiency through enhanced digital orthodontic and prosthetic workflows.
$1 billion buyback program
It is worth mentioning that on October 27, 2023, Align Technology also announced that it has accelerated its share repurchase agreement with Citibank and will repurchase 2US$500 million (about 1.8 billion yuan) in shares. It is reported that the equity repurchase plan was proposed in January 2023, with a planned repurchase amount of 1 billion US dollars (about 7.3 billion yuan).
The transaction will be affected in accordance with the terms of the repurchase program, including specified conditions, volume and timing. As of June 30, 2023, align had approximately 76.5 million outstanding shares and $1 billion in cash, cash equivalents, and short- and long-term valuable**.
Pursuant to the Accelerated Share Repurchase Agreement, Citibank will use commercially reasonable efforts to make the purchase through one or more designated brokers, including Castleoak Securities LP, Drexel Hamilton, LLC, Siebert Williams Shank & Co llc.。In addition, Joe Hogan, President and CEO of Align Technology, plans to personally purchase $1 million of common stock.
The market potential is huge
Dental 3D printing refers to the combination of digital scanning and 3D printing, according to the three-dimensional data of different patients' oral cavities, to achieve precision medicine and precision implantation, so that commonly used dental medical supplies can be improved in terms of precision. With the rapid development of science and technology, 3D printing technology is being widely used in the field of dentistry, bringing unprecedented changes.
According to the report, the global dental 3D printing market size is expected to reach 5$7.9 billion, with a CAGR of 147%。The rapid growth of this data further proves the great potential of 3D printing technology in the field of dentistry and the broad prospects for future development.
On the whole, there is no obvious brand monopoly in the global dental 3D printing market, and most of the industry leaders are European and American brands, including 3D Systems, Stratasys, Envisiontec, etc., which are more competitive.
Stratasys Ltd., May 2023Acquired WeMatter Gr**ity, a Swedish company that provides the most affordable SLS solutions to the market. This expands Stratasys' portfolio in the field of dental 3D printing. In September 2023, SLM Solutions announced a new research collaboration with the Fraunhofer Institute for Laser Technology to develop biocompatible materials for 3D printed dental restorations. In November 2023, Roland DG announced plans to expand its dental 3D printing business in Europe with a new distribution partner.
As a global medical device giant, Align Technology has a deep-rooted market position in the dental field, and has cooperated with 3D Systems, a leading company in the industry, in the printing field. The acquisition of Cubicure incorporates innovative 3D printing technology to better respond to market changesWhile further enhancing its core competitiveness, it has expanded its own industrial layout. In this regard, the home of equipment will continue to pay attention.