Align Technology Inc.
Align Technology Announces $150 Million Open Market Repurchase
Summary
Align Technology, Inc. announced via Regulation FD Disclosure that it plans to repurchase $150 million of its common stock through open market repurchases. The repurchases, which are part of a $1.0 billion program approved by the Board in January 2023, are expected to be completed by the end of July 2024 and will be funded with the company's cash on hand. The announcement reflects the company's confidence in its ability to capitalize on its market opportunity while returning value to shareholders.
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About Align Technology Inc.
Align Technology Inc. is a global medical device company known for its innovative approach to designing and manufacturing products for the orthodontics market. The company's primary offerings include clear aligners, represented by the well-known Invisalign brand, which provide an alternative to traditional metal braces. Align Technology also offers iTero intraoral scanners, promoting advancements in digital dentistry by enabling precise 3D scans of patients' mouths. Serving the dental and orthodontic fields, the company impacts these industries by integrating technology with patient care. Align Technology's products are utilized in dental practices worldwide, focusing on enhancing the comfort and convenience of orthodontic treatments. Headquartered in San Jose, California, the company's contributions are significant in the realm of orthodontics, driving a shift toward digitally-supported, patient-friendly solutions.
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