Spotlight on Asia Pacific for Align - Analyst Blog
February 26 2013 - 10:00AM
Zacks
Align Technology
Inc. (ALGN) has announced the appointment of Julie Tay in
the newly created position of vice president, Asia Paific. Tay will
oversee business progression in the Asia Pacific region to attain a
solid footing for the company. The officeholder’s primary
responsibility is to focus on strategic development and operation
management for all Align offerings and services in the region
effective Mar 1, 2013.
Tay will acquire the responsibility for the company’s direct
markets such as China and Japan, and 13 other indirect country
markets across the Asia Pacific region. The Asia Pacific region
remains one of the most highly sought-after avenues of growth for
companies in the medical device space. Align’s latest announcement
is expected to improve its execution in the geographical area.
Moreover, Tay’s prior experience in the region is likely to yield
positive results.
As disclosed earlier, Align has discontinued the distribution
agreement with Invisalign Asia Pacific distributorship.
Consequently, the company terminated indirect distribution network
in four of the largest indirect country markets of Australia, New
Zealand, Hong Kong and Singapore in the zone.
Nonetheless, this is expected to work in Align’s favor as it
reverts back to direct sales in these countries on May 1, 2013. The
other nine indirect country markets in Brunei, Indonesia, Macau,
Malaysia, Philippines, South Korea, Taiwan, Thailand and Vietnam
are expected to stick to the current distribution model.
Like other players in the industry,
Align’s coherent focus on the Asia Pacific market is encouraging.
Given the improving infrastructure, rising healthcare expenditure,
demographic tailwinds and increasing income levels, strategic focus
to expand its regional presence should result in a faster growth
profile for the company.
The stock carries a Zacks Rank #3 (Hold). However, medical stocks
such as Cyberonics (CYBX), Given
Imaging (GIVN) and Medical Action (MDCI),
each carrying a Zacks Rank #1 (Strong Buy) are expected to do well
and warrant a look.
ALIGN TECH INC (ALGN): Free Stock Analysis Report
CYBERONICS INC (CYBX): Free Stock Analysis Report
GIVEN IMAGING (GIVN): Free Stock Analysis Report
MEDICAL ACTION (MDCI): Free Stock Analysis Report
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