SmileDirectClub – an American company that produces orthodontic applications for straightening teeth, made using HP’s MultiJet Fusion technology, announced today the discontinuation of its operations. The company’s closure came just three months after it filed for bankruptcy. Since then, SmileDirectClub has been in talks with its creditors to save the company from liquidation, but ultimately failed to negotiate an agreement.
SmileDirectClub was founded in 2014 and initially operated as a distributor of Align Technology dental products. Over time, the company decided to change its activities and became a direct supplier of prosthetic overlays to customers. Its production was based on HP 3D printers, working closely with the concern from Palo Alto, which made it a leader in the indirect production of overlays created using 3D printing technology. Ultimately, SmileDirect became the largest user of the MJF method in the production of this type of orthodontic applications, with over 60 HP 3D printers.
In 2018, the company was valued at over $3 billion, with operations in the US, Canada, the UK and Australia. In 2019, it debuted on the stock exchange – unfortunately, in 2021, its share price began to drop dramatically from $13 per share to below $1 per share in 2022 – 2023. Even though SmileDirectClub has served over 2 million customers, including year, it ran into serious financial problems. The company never made a profit as a public company, and according to Fortune, its debts grew to nearly $900 million.
SmileDirectClub was one of the pioneers in the field of 3D printing technology from powdered polyamides in the dental sector. Its main rival in this field was Align Technology, which uses photopolymer 3D printers. The companies were involved in a legal dispute, which SmileDirect lost, receiving a judgment and a financial penalty of $63 million. Although it disputed this verdict, it affected its financial liquidity and prospects for negotiations with third parties.
Source: www.smiledirectclub.com