Let’s get this out of the way: No, Biolase isn’t vanishing overnight. But things have definitely changed. If you’ve heard rumours about bankruptcy, asset sales, or buyouts, you’re not hearing wrong. What’s important is understanding what those actually mean for the company and anyone who uses their dental lasers.
The Bankruptcy Filing: Chapter 11, Not Chapter 7
Back in October 2024, Biolase filed for Chapter 11 bankruptcy protection. That’s the kind of bankruptcy where a business reorganizes, not one where it just shuts the doors and liquidates right away.
They did this in the U.S. Bankruptcy Court, Delaware. According to the filings, as of mid-2024, they had about $30.6 million in assets—think cash, property, stuff like that—and $32.7 million in debts. So, things were tight.
At the time, Biolase was facing a cash crunch. They’d been cutting expenses but still couldn’t keep up with costs, legal bills, and some big market setbacks. Chapter 11 let them figure things out while still operating.
How Did Biolase End Up Here?
Simple answer: money problems. Their U.S. dental laser sales had been slipping. In second quarter 2024, laser sales in the States came in at $3.6 million. The previous year? $6.3 million. That’s a brutal drop for a company that relies so much on its U.S. business.
Company-wide, total revenue for Q2 2024 was $11.6 million. The year before, it was $14.3 million. That’s the kind of downward trend that puts real pressure on a company’s bank account.
Biolase also had the stock market breathing down its neck. The Nasdaq, where its shares traded, threatened to boot them over low pricing. And on top of that, a Sonendo subsidiary hit them with a big patent lawsuit, which didn’t help matters.
When it became clear that cutting expenses—like laying off 20% of their workforce in mid-2023—wasn’t enough, they started looking for someone to buy the business.
The Asset Sale: Who Wanted Biolase?
When a company’s in bankruptcy and needs to sell, the court gets involved so the sale is transparent and fair. In this case, Biolase went out and looked for buyers. They first struck a deal with competitor Sonendo: $14 million for the core business, but with a catch. That deal was what’s called a “stalking horse bid.” It set the floor price, but other bidders could jump in and make a better offer.
SSG Capital Advisors managed the sale process. This wasn’t just a handshake deal—it was a full-on auction, with documents, interviews, and actual cash on the line.
As sometimes happens, the competition upped the ante.
The Auction: MegaGen Steps In
In November 2024, after reviewing the bids, Biolase and the court picked a winner. South Korea’s MegaGen Implant Co., Ltd. came in with a $20.05 million cash bid. That’s over 40% more than the original Sonendo offer.
MegaGen is a major player in dental implants internationally. They’re not some random private equity firm or a liquidation specialist. They took on some Biolase liabilities, too—not just the assets—which can help keep operations running smoothly.
The sale wrapped up not long after, and Biolase’s core business, including its technology, shifted over to MegaGen’s ownership.
What Happened After the Sale?
Bankruptcy doesn’t just end at the sale. There’s a lot of paperwork, debts to settle, and creditors to pay. In February 2025, the court rubber-stamped a plan of liquidation. That’s basically saying, “Here’s how we’ll distribute the leftover assets and clear the books.”
If you look at the court dockets, you’ll see they’re still keeping tabs on things in 2026. That’s pretty normal for bankruptcies, especially when there’s money or lawsuits still floating around. It doesn’t mean the business is shutting down.
The important thing? Under MegaGen, Biolase kept operating. Equipment support, sales, research, training—the things that dental professionals count on—still carried on, just under new management.
Is Biolase “Out of Business”? That’s Not Quite Right
Chapter 11 is a weird animal. Sometimes the company that filed is just a shell when things are done. In this case, the actual, legal entity that filed is changing its name to November 26, Inc. and winding down. But the Biolase business—what most of us actually think about (the products, tech, employees, and brand)—kept going in the hands of MegaGen.
For folks using Biolase dental lasers, there wasn’t a sudden stop. Just a transfer to a new parent company. More than 47,700 laser units have been sold over the years—it wouldn’t make sense for MegaGen to buy all that tech just to kill it. They even made public commitments to invest in Biolase’s minimally invasive dental laser tech long-term.
The Challenges That Led Here: Revenue, Workforce Cuts, Lawsuits
If you track back a bit, the warning signs were there. Sales slumped in key markets, especially the U.S. Leadership made moves to stay afloat—including some tough layoffs in summer 2023 that saved the company around $4 million a year.
They also struggled with a pricey lawsuit from a patent holder linked to Sonendo, their former would-be buyer. Add in rising competition and declining revenue, and Biolase was squeezed from every side.
Delisting from Nasdaq was another blow. A lot of small public companies run into trouble when their stock trades under $1 for too long. Investors get spooked—lenders get jumpy. It becomes a spiral that’s hard to escape.
Trying to reinvent the business on its own just wasn’t working. That’s why a sale made the most sense.
What About MegaGen? Are They Good for Biolase?
MegaGen isn’t new to dental innovation. They’ve got a real presence in the global dental implants market. Their approach leans into modern, less invasive methods—so buying Biolase’s laser business actually fits their strategy.
They paid $20.05 million for the assets. That wasn’t a fire sale, and it shows they see real value in the technology and brand. By taking on some of the old company’s obligations, they signaled intent to support customers and partners, not just close up shop.
Dental professionals with Biolase lasers should expect support, updates, and new products under the MegaGen banner. This isn’t like a clothing store that suddenly switches brands—you probably wouldn’t even notice the change unless you were reading the financial news.
What Are Bankruptcy Dockets and Why Do They Still Show Activity?
If you’re following the story by watching court dockets, you might see updates even now. That’s not because Biolase is in limbo. It’s just how courts, lawyers, and accountants work when distributing assets from a complex bankruptcy. Sometimes there are final payments to vendors or disputes with old creditors that need to be sorted.
These kinds of processes can drag on for a year or two, especially if there are lawsuits or international assets involved.
The Bottom Line: Biolase Was Sold, Not Shuttered
So, if you’re a dentist, an investor, or just a news reader wondering if Biolase is “going under”—the short answer is no. The company as you knew it filed for bankruptcy, but its technology, staff, and day-to-day business found a home with new ownership.
MegaGen runs the show now. They’ve got an incentive to keep Biolase’s dental lasers available and supported. You might see changes behind the scenes, but for end users, it’s business as usual. Or maybe even more support, with fresh resources backing the brand.
If you like to track this kind of corporate drama, you might spot similar deals over at Around Business, which tracks business sales and industry trends.
For now, Biolase is still around—just with a different owner, a slightly different name in the court system, and hopefully a steadier path ahead. The bankruptcy drama hasn’t spelled the end of its dental tech. If you use Biolase tools or follow dental device innovation, that’s probably the outcome you were hoping to see.
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