Align Technology Inc.
) 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
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.
ALIGN TECH INC (ALGN): Free Stock Analysis
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The stock carries a Zacks Rank #3 (Hold). However, medical stocks
), each carrying a Zacks Rank #1 (Strong Buy) are expected to do
well and warrant a look.