Align Technology Successfully Acquires Cubicure, a Leader in Polymer 3D Printing Solutions

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Continuing to innovate and invest in technologies, Align is pushing forward the next generation of 3D direct printed products, paving way for more effective and sustainable solutions.

In SAN JOSE, California, TEMPE, Arizona and VIENNA on January 03, 2024,–(BUSINESS WIRE)–Align Technology, Inc. or Align for short (Nasdaq: ALGN) is taking the lead as a global medical device company. They design, manufacture, and sell the Invisalign® system of clear aligners, iTero™ intraoral scanners, and exocad™ CAD/CAM software for digital orthodontics and restorative dentistry. Today, Align announced the completion of its acquisition of the privately-held Cubicure GmbH. Cubicure is a pioneer in 3D direct printing solutions for polymer additive manufacturing and has developed, produced, and distributed pioneering materials, equipment, and processes for 3D printing solutions.

The acquisition of Cubicure is set to support and expand Align’s strategic innovation roadmap and considerably strengthen the Align Digital Platform™. Furthermore, Cubicure will extend and scale Align’s printing, materials, and manufacturing capabilities for their 3D printed product portfolio. This now includes the Invisalign® Palatal Expander system, the first 3D direct printed orthodontic device from Align, and a safe, clinically effective* and comfortable alternative to traditional palatal expanders. Cubicure’s exclusive Hot Lithography technology uses a distinctive heating and coating mechanism that allows for the processing of highly viscous resins, thus producing especially strong and temperature-resistant polymers. This high precision 3D printing method facilitates unprecedented additive manufacturing of resilient components with an astonishing first-of-its-kind material quality performance.

In making today’s announcement, Joe Hogan, the president and CEO of Align Technology expressed joy, saying, “The acquisition of Cubicure brings a talented team and unique cutting-edge technology into Align and will enable us to scale our 3D printing operations to eventually direct print millions of custom appliances per day. Direct 3D printing enables Align to create 3D printed solutions without the added step of first creating a mold, making 3D printing more sustainable and efficient. I am excited to take this important step in our relationship with Cubicure, which began several years ago as a joint development program.”

Align has invested billions of dollars on innovation over the past 27 years, including next-generation 3D printing technologies to process high-performance polymers,” said Srini Kaza, Align senior vice president, product research & development. “We’ve been working with Cubicure for years and I am thrilled that they are now officially employees of Align and members of our R&D organization. We’re at the beginning of this next wave of direct 3D printing additive manufacturing and I believe we’re poised to transform the orthodontic industry again with our unprecedented ability to direct print devices.”

The acquisition closed on January 2, 2024, for approximately €79 million subject to final closing adjustments and adjustments for Align’s existing ownership of capital stock of Cubicure.

*Based on a survey in August 2023 in Canada of 10 Invisalign trained orthodontists who participated in the Invisalign Palatal Expander System Technical Design Assessment and have treated at least 1 patient age 6-11 years with IPE. Data on file at Align Technology, Inc. as of October 30, 2023.

About Align Technology, Inc.

Align Technology designs and manufactures the Invisalign® system, the most advanced clear aligner system in the world, iTero™ intraoral scanners and services, and exocad™ CAD/CAM software. These technology building blocks enable enhanced digital orthodontic and restorative workflows to improve patient outcomes and practice efficiencies for approximately 252 thousand doctor customers and are key to accessing Align’s 600 million consumer market opportunity worldwide. Over the past 26 years, Align has helped doctors treat over 16.4 million patients with the Invisalign system and is driving the evolution in digital dentistry through the Align Digital Platform™, our integrated suite of unique, proprietary technologies and services delivered as a seamless, end-to-end solution for patients and consumers, orthodontists and GP dentists, and lab/partners. Visit www.aligntech.com for more information.

For additional information about the Invisalign system or to find an Invisalign doctor in your area, please visit www.invisalign.com. For additional information about the iTero digital scanning system, please visit www.itero.com. For additional information about exocad dental CAD/CAM offerings and a list of exocad reseller partners, please visit www.exocad.com.

Invisalign, iTero, exocad, Align, and Align Digital Platform are trademarks of Align Technology, Inc.

Forward-Looking Statements

Our public communications, including this news release, may contain forward-looking statements. These can include expectations about the benefits and synergies resulting from the acquisition, our 3D printing operations and products, and other issues covered in this press release not strictly historical. We do not undertake any obligation to amend or reconsider these forward-looking statements, regardless of new developments. These forward-looking statements about future events or outcomes are based on currently available information and reflect our best judgement at the time of writing. Readers should note, however, these forward-looking statements are subject to uncertainties and assumptions that are tough to predict, potentially leading to significant variations in actual outcomes.

Possible factors causing such variations can include, but not be limited to:

(i) the ability to realize expected benefits or synergies in the given timeframe or not at all, and (ii) integrate Cubicure’s business in a timely, cost-efficient manner without disrupting either Align’s or Cubicure’s operations

Moreover, the transaction’s closure may impact (i) the relationships that Align and Cubicure have with their respective customers, suppliers, strategic partners, and competitors and their overall operations and businesses (including the diversion of management’s attention to transaction-related issues), and (ii) the ability to keep and hire key staff.

uncertainties associated with any aspect of the transaction, including those related to (i) fluctuations in foreign exchange rates and transaction costs, and (ii) litigation in connection with the transaction itself or ongoing matters acquired from Cubicure;

the potential that our due diligence did not uncover risks and potential liabilities associated with Cubicure;

risks relating to financial reporting including those resulting from the implementation of new or changed accounting policies and practices as well as associated system implementation in the context of the transaction as well as our ability to forecast financial results;

the potential impact of the transaction on our future tax rate and payments based on the consolidation of the global group and our ability to integrate foreign operations; and

The potential negative effects of the announcement of the transaction on the market price of Align’s common stock

The foregoing and other risks are detailed from time to time in our periodic reports filed with the Securities and Exchange Commission, including, but not limited to, our Annual Report on Form 10-K for the year ended December 31, 2022, which was filed with the Securities and Exchange Commission (“SEC”) on February 27, 2023, and our latest Quarterly Report on Form 10-Q for the quarter ended September 30, 2023, which was filed with the SEC on November 3, 2023. Align undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

View source version on businesswire.com

Contacts

Align Technology
Madelyn Valente
(909) 833-5839
mvalente@aligntech.com

Zeno Group
Sarah Johnson
(828) 551-4201
sarah.johnson@zenogroup.com

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