When news broke that dental laser company Biolase had filed for bankruptcy, a lot of folks started wondering: is this the end for the company? If you’re a dentist who relies on Biolase products or a curious business follower you might want a clearer answer than rumor or panic. Let’s walk through exactly what’s happened with Biolase, what “going out of business” really means in this case, and what the future looks like for this well-known dental tech name.
Some Context: How Biolase Landed in Hot Water
Biolase had a tough 2024. Back in June, the company’s books showed $30.6 million in assets, but debts totaled $32.7 million. For a company of its size, that’s a red flag not quite a disaster, but a sign things aren’t going the right direction.
Revenue wasn’t helping, either. In the second quarter of 2024, they brought in just $11.6 million. That’s down more than 20% from the $14.3 million they made in the same period the previous year. They’d already made cuts to their workforce and tried to steady the ship, but money was tight. For a while, Biolase managed to get by, but by the fall, they just couldn’t keep operating in the same way.
Biolase Files for Chapter 11 Bankruptcy: What Does That Really Mean?
On October 1, 2024, Biolase filed for Chapter 11 bankruptcy protection. That doesn’t mean the company vanished overnight. Chapter 11 often lets a business keep running while it restructures. Sometimes this gives the company a shot to re-invent itself. Other times, it sets up an orderly sale of assets, sometimes to a competitor or a new owner.
For Biolase, the plan was to sell off its main assets like their flagship Waterlase dental laser products in a controlled process. This isn’t the same as closing up shop and selling everything for scrap. Biolase wanted to protect what it had left, keep serving dentists (and their patients), and hopefully pay back as much of its debt as possible. To get through the early days of bankruptcy, Biolase also secured $2.5 million in what’s called “debtor-in-possession” (DIP) financing. This is basically a lifeline to keep the company running through the legal process.
Sonendo’s First Bid (and the Start of a Bidding War)
Right after filing, Biolase lined up a potential buyer: Sonendo, another player in dental tech. Sonendo’s offer was about $14 million for Biolase’s main business assets, set up through a court process known as a Section 363 sale. In bankruptcy sales like these, the idea is to take bids and hopefully find someone willing to pay more, so everyone with a stake in the company creditors, suppliers, maybe even employees can get the best deal possible.
At this point, things were up in the air. Sonendo looked like the likely buyer, but in situations like this, you never really know until the auction gavel falls.
MegaGen Jumps In and Wins the Auction
Enter MegaGen Implant Co., Ltd., a Korean company best known for dental implants. MegaGen came in strong, bidding more than Sonendo. They ended up offering $20.05 million for the Biolase assets. This was a significant jump from Sonendo’s $14 million, and it was good news for the stakeholders expecting a proper court-run auction.
The court process made sure every bid was weighed in the open. When it came time for the judge to decide, MegaGen’s offer clearly won out. The deal officially closed through a court-approved plan of liquidation. The sale was finalized in February 2025. For those keeping track, that’s less than five months after Biolase’s bankruptcy filing a quick turnaround in bankruptcy world.
What Did Stakeholders Get From the Sale?
So, who benefited from this? Well, first up were Biolase’s creditors the people and companies Biolase owed money to. The higher sale price meant more money to pay down that debt. The court-approved plan focused on distributing as much as possible to those stakeholders, rather than simply dissolving the company and walking away.
Employees faced uncertainty, of course. Some changeover is almost always part of a sale like this. But MegaGen has a reputation for expanding operations, not shutting them down, so there was hope for job continuity and maybe even more investment in the company’s tech.
Leadership and What Happens to Biolase’s Products Now?
After the sale, MegaGen took the reins. Kwang Bum Park, MegaGen’s founder, became the new leader overseeing Biolase products. MegaGen made it clear early on that they wanted to keep Biolase’s key offerings, especially its Waterlase dental lasers, in production and available in the marketplace.
The company didn’t just buy the name and shut the doors. Waterlase and other core Biolase products stayed in focus, giving dentists who rely on them some much-needed stability. For customers, that means the technology and service you expect from Biolase isn’t vanishing. But from a corporate standpoint, this is now a MegaGen story.
One Side Effect: Biolase Is Delisted From Nasdaq
There’s a catch, though. Once the bankruptcy filing happened and it was clear the company would be sold, Biolase’s shares no longer met the requirements for staying on the Nasdaq stock exchange. The company was delisted before the deal with MegaGen was even finished.
That doesn’t mean Biolase’s business disappears just that its stock isn’t publicly traded anymore. Current shareholders don’t have much recourse here; these types of sales usually mean existing equity is wiped out. The focus shifts to what MegaGen can build going forward.
Biolase’s Bankruptcy Case Keeps Going Under a New Name
Even though the deal with MegaGen closed in early 2025, the legal case didn’t immediately wrap up. Bankruptcy cases, especially those involving asset sales, can drag on as details are worked out, creditors are paid, and leftover legal issues are resolved.
Here’s a quirky detail: the company going through bankruptcy is now called “November 26, Inc.” That’s just Biolase’s legal name after the asset sale kind of a placeholder while the court case plays out. As of January 21, 2026, the case is still listed as active in Delaware, with monthly reports filed in the bankruptcy court. If you’re a business news geek, you can actually follow the filings online; they’re public record and detail every step left in the wind-down.
So…Is Biolase Going Out of Business?
Here’s the straight answer: Biolase, as we knew it, is done as an independent public company. Its original corporate entity is being liquidated and won’t trade on the stock market again. But the business the know-how, the products, the patents, the people who made it work has moved to new ownership.
This isn’t a total shutdown. MegaGen kept core Biolase assets running. Waterlase and related products are still in dentists’ hands. What’s really changed is who calls the shots and who gets paid when the company makes money.
If you’re a dental professional, patient, or vendor, what you’ll notice most is who manages orders, support, and future product changes. If you were a Biolase investor, your stock is probably worthless now, since bankruptcy sales usually wipe out old shares.
What About the Future Any Reason for Optimism?
Now that Biolase is part of MegaGen, there’s a different energy behind the brand. MegaGen has experience in dental implants and the global dental technology market. They’re not likely to toss the Biolase name they just paid millions for. In fact, they have public plans to keep developing the laser division.
What does this mean? Well, it likely means more support for existing Biolase users, new products in the same space, and maybe some new cross-over innovation with MegaGen’s implant technologies. But it also means change, and some degree of uncertainty usually comes with any acquisition.
Ongoing updates like federal court filings are being tracked by industry news outlets and business journalists. If you’re interested in how these sorts of company turnarounds happen, or want tips on navigating a changing tech market, sites like United Business Mag keep a close eye on these cases.
Bringing It Back Down to Earth
There’s a lot of confusion every time a recognizable brand files for bankruptcy. People hear “bankruptcy” and immediately think doors are closing, lights are going out, employees are packing boxes. That’s not quite what happened with Biolase.
The original public company is being wound down. At the same time, operations, product development, and customer service are being powered by new ownership. If you’re looking for Biolase to just disappear, that’s not on the cards right now. If you expected every part of the company to stay the same, you’ll find changes and maybe some upgrades as MegaGen gets to work.
So, no, Biolase isn’t truly “going out of business.” It’s changing hands, changing focus, and like plenty of tech companies that’ve had hard years hoping for a second act with fresh leadership. There will be legal wrinkles for a while, but that’s business as usual in a corporate restructuring.
We’ll keep watching as MegaGen puts its stamp on Biolase, and as the legal side finishes winding down. For now, Waterlase and the Biolase brand are still around and that’s probably the answer most dental patients, dentists, and business-watchers care about.
