The dental technology sector has had a notable year of innovations and challenges.
Here is a deep dive into several cases of good news and bad news for the industry:
Good news
Investments
Venture capital funding in the oral health AI and machine learning sector has swelled over the last decade, increasing from $5 million for one deal in 2014 to more than $145 million for eight deals so far in 2024.
Several other dental technology companies have received investments this year to fuel their growth. Los Angeles-based Feno, an at-home oral health technology company, secured $6 million in a seed funding round. Carestream Dental also raised more than $525 million, while LightForce Orthodontics, a developer of 3D printed dental brackets, received a commitment of $50 million from Trinity Capital earlier this year.
Innovation
Dental technology companies have continued to push the needle forward in terms of what dentists are capable of achieving at their practices.
Boston-based Perceptive and Henderson, Nev.-based PDS Health recently completed the first successful clinical study of a 3D intraoral optical coherence tomography dental imaging system. Compared to X-rays, the technology triples the sensitivity in detecting cavities and allows dentists to detect cracks and demineralization in teeth.
Perceptive also completed the first fully automated dental procedure on a human using dental robotics earlier this year. The system uses AI-driven 3D imaging to complete restorative dentistry tasks such as crown placements.
In another first for the dental industry, the University of Minnesota School of Dentistry in Minneapolis welcomed the first dental-dedicated MRI in the U.S. The technology was unveiled with the opening of the school's Orofacial MRI Center, which aims to continue the school's legacy of MRI innovation. The center's first plans include studying the machine’s use in evaluating endodontic tooth infections, examining the temporomandibular joint for orofacial pain disorders and imaging for orthodontic treatment planning.
Bad news
Financial struggles
Dental laser manufacturer Biolase recently initiated Chapter 11 bankruptcy proceedings after reporting decreases in net revenue and U.S. laser revenue. Dental technology company Sonendo agreed to purchase "substantially all" of Biolase's assets and subsidiaries for $14 million.
In January 2023, a subsidiary of Sonendo filed a patent infringement lawsuit against Biolase covering the use of laser systems and radial firing tips. Sonendo filed a proof of claim with the bankruptcy court for a total of $59 million for current and ongoing damages associated with the infringement.
If the bid is accepted, Sonendo plans to integrate Biolase into its organization and create a smooth transition for Biolase customers and patients.
Lawsuit settlements
The U.S. District Court for the Northern District of California recently granted preliminary approval of a settlement to resolve shareholder derivative litigation involving Tempe, Ariz.-based Align Technology. The settlement resolves litigation that has been pending since 2019, and will result in Align adopting 17 reforms, which will remain in effect for at least three years.