Ormco Corporation, a subsidiary of Danaher Corporation today announced that Ormco and Align Technology, Inc. have agreed to enter into an exclusive collaboration arrangement to jointly develop and market an orthodontic product offering that will provide orthodontic patients a treatment solution that involves a combination of Align's Invisalign system and Ormco's Insignia custom orthodontic bracket and arch wire system. Align will also grant to Danaher an equity stake in Align common stock that after issuance will be equal to an approximately 10% ownership interest in Align (valued at approximately $77 million based on Align's common stock closing price on August 14, 2009). The issuance of a portion of the shares to be issued is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.

"We are truly excited about the new treatment alternative that we expect to offer our customers as a result of this collaboration," said Don Tuttle, President of Ormco Corporation.

The agreement to enter into a collaboration arrangement and issue an equity stake in Align are part of an agreement under which the parties have agreed to settle the patent infringement case brought by Ormco against Align. Under the terms of the settlement, Align has also agreed to make a cash payment of $13 million to Ormco.

Ormco Corporation is a global leader in the orthodontic industry and provides high quality products to the dental profession that are designed to improve the efficacy and efficiency of orthodontic treatment. It is a subsidiary of Sybron Dental Specialties, one of the world's largest dental consumable manufacturing companies. For more information, please visit Ormco's Web site at http://www.ormco.com/.

Statements in this document that are not strictly historical, including statements regarding the anticipated, exclusive collaboration arrangement; the anticipated benefits of such collaboration arrangement; the settlement of the Ormco/Align litigation, the anticipated results of the settlement and dismissal of the litigation; regulatory approvals; and any other statements about managements' future expectations, beliefs, goals, plans or prospects, may constitute forward looking statements. There are a number of important factors that could cause actual events to differ materially from those suggested or indicated by such forward-looking statements. These factors include, among other things: the parties' ability to satisfy the obligations prerequisite to dismissal of the litigation and successfully develop, manufacture, market and sell the proposed, joint product offering; general economic conditions and conditions in the markets in which Ormco and Align operate; and the uncertainty of regulatory approvals. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in Danaher's SEC filings, including Danaher's 2008 Annual Report on Form 10-K and Quarterly Report on Form 10-Q for the quarter ended July 3, 2009. These forward-looking statements speak only as of the date of this release and neither Ormco nor Danaher assumes any obligation to update any forward-looking statement.

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SOURCE: Danaher Corporation