Align Technology Inc. (ALGN) said Danaher Corp. (DHR) will receive a roughly 10% stake in the dental products company as part of a patent settlement with one of the industrial conglomerate's subsidiaries, Ormco Corp.The companies agreed to end patent litigation and enter an exclusive seven- year strategic collaboration to develop and market an orthodontic product using Align's clear removable teeth-straightening appliances and Ormoco's orthodontic brackets and arch wires systems. Both companies will retain and receive patents in their respective fields related to the jointly developed products.
The stock is currently trading at $11.81 moved up about 16.58% on over 1.45 million shares.
About Align Technology, Inc.
Align Technology, Inc. designs, manufactures, and markets the Invisalign system, a method for treating malocclusion, or the misalignment of teeth. Invisalign corrects malocclusion using a series of clear, nearly invisible, removable appliances that gently move teeth to a desired final position. Because it does not rely on the use of metal or ceramic brackets and wires, Invisalign reduces the aesthetic and other limitations associated with traditional metal arch wires and brackets, commonly referred to as braces.
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