Charlesbank Capital Partners Announces the Formation of Kleer-Membersy, Combining the Nation’s Two Largest Tech-Driven Dental Membership Plans
2024年5月7日 - 8:53PM
Charlesbank Capital Partners (“Charlesbank”), a middle-market
private investment firm with offices in Boston and New York, today
announced the formation of Kleer-Membersy (or the “Company”). The
new Company was formed through the acquisition and merger of Kleer
and Membersy, the nation’s two largest providers of
technology-driven dental membership plans.
Founded in 2015 and 2017, respectively, Membersy and Kleer have
provided dental practices and dental service organizations (DSOs)
with vital tools to build and grow successful membership programs,
including consultative plan design, an advanced technology
platform, plan branding and marketing collateral, regulatory
compliance, and robust support for patients and dental office
staff. The combined Company will support an aggregate footprint of
20,000 dentists and millions of patients across all 50 states,
covering the entire spectrum of care, from solo practices to the
largest DSOs in the country.
Charlesbank believes Kleer-Membersy will leverage the two
industry leaders’ strengths to create significant value for DSOs,
dental practices and their patients, as well as to expand access to
care for all uninsured and underinsured Americans. The US currently
has more than 76 million adults without dental insurance.
“We are thrilled to announce the merger of Kleer and Membersy,”
said Mayur Desai, Managing Director at Charlesbank. “Both companies
have achieved exceptional market share and growth, bringing a new
subscription-based care paradigm to the dental care market.”
Added Mike Zirngibl, a Principal at Charlesbank, “This model
improves patient access to care, while also improving dental
practice performance. By bringing these companies together, we
fully expect to enhance their ability to serve dental practices and
patients nationwide."
“It is very exciting to see our mission to improve patient
access to care brought to a new level with this merger,” said Dave
Monahan, Kleer’s CEO. “Kleer and Membersy have led the charge in
establishing a new business model for dentistry that works better
for patients and dental practices alike. I couldn’t be happier to
partner with the Membersy team and Charlesbank as we aim to
accelerate investment and create value for dental practices at an
unprecedented scale.”
“We’re extremely excited to work with Dave and the entire Kleer
team as we pursue our common goal of forging a more efficient and
effective future for the dental care industry,” added Michael
Shuman, Membersy’s CEO. “This merger is a force multiplier that
will enable us to drive even better outcomes for both our partners
and our members across the U.S.”
Ernst & Young Capital Advisors and Holland & Knight
served as advisors to Membersy, while Carlsquare and Gunderson
Dettmer served as advisors to Kleer. For Charlesbank, OM Partners
served as the financial advisor, and Goodwin acted as legal
advisor.
About Charlesbank Capital PartnersBased in
Boston and New York, Charlesbank Capital Partners is a
middle-market private investment firm with more than $17 billion of
capital raised since inception. Charlesbank focuses on
management-led buyouts, growth capital financings, opportunistic
credit, and technology investments. The firm seeks to invest in
companies with sustainable competitive advantage and excellent
prospects for growth. For more information, please visit
www.charlesbank.com.
About Kleer-MembersyWith a combined 20+ years
of experience, Kleer-Membersy is the only all-in-one membership
solution. Trusted by over 20,000 dentists, from solo practices to
the largest DSOs, and millions of patients across 50 states,
Kleer-Membersy provides a membership model that both patients and
providers love. The platform enables patients to gain access to
high-quality, affordable care and allows practices to increase
patient engagement, improve practice performance, and take control
of payer strategy.
Contact for Kleer:Corinne
Bolanoscorinne@kleer.com
Contact for Membersy:Janelle Pauli
janelle.pauli@membersy.com
Contacts for Charlesbank: Ryan FitzGibbon / Dan
Ivers / Peter Gavaris Prosek Partnerspro-charlesbank@prosek.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/c47afad3-7e60-41e4-9be9-e762a585883f