US-based medical technology company Align Technology, known for its Invisalign clear braces, last week reported its quarterly results for the third quarter of 2023. Align Technology reported revenue of $960.2 million, an increase of 7.8% compared to the same quarter last year.
However, Align Technology President Joe Hogan said demand in the third quarter was lower than expected due to the deteriorating macroeconomic environment. Still, sales growth was positive in all regions, he said.
A particular focus in the third quarter was on advancing 3D printing for orthodontic applications. For example, Align Technology announced the planned acquisition of Austrian 3D printing startup Cubicure for approximately €79 million. Cubicure specializes in 3D printing of dental parts. According to Hogan, the acquisition is expected to expand Align Technology’s inventory of 3D printing intellectual property and know-how.
Align Technology also unveiled the Invisalign Palatal Expander (IPE), the company’s first directly 3D-printed orthodontic device. The IPE is designed to provide a safe and comfortable alternative to traditional metal palatal expanders, which require cumbersome manual adjustments. The IPE is currently being launched in Canada and is expected to launch in the U.S. in 2024.
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