Align Technology adds three directors, starts review after Elliott talks

Align Technology announced it will appoint three new independent directors to its board and commence a comprehensive operational review following discussions with activist investor Elliott Investment Management. The three directors, whose names have not been released, are expected to bring expertise in healthcare technology, medical devices, global operations and scaling high‑growth businesses. Align has engaged a leading global consulting firm to assess its business model and focus the review on improving revenue growth and profit margins. Shares fell about 4.5% in extended trading after the disclosure.

Elliott, now one of Align's largest shareholders, has been active in the healthcare sector, targeting companies such as Dexcom, Medtronic and Charles River Laboratories. Elliott partner Marc Steinberg said Align is a market leader with significant growth potential. The company also raised its share‑buyback target for the year to $400‑$500 million, up from $200 million, signalling confidence in its long‑term value.