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Breaking Industry News
Charlesbank Capital Partners (“Charlesbank”), a middle-market private investment firm with offices in Boston and New York, announced that it has acquired and merged Kleer and Membersy, the dental industry’s two largest membership plan administrators.
Founded in 2017 and 2015, respectively, Kleer and Membersy provide dental practices and dental service organizations (DSOs) with the vital tools needed to build and grow a successful dental membership program, including consultative plan strategy, an integrated software platform, regulatory compliance, and best-in-class support for both dental office staff and their patients.
As established leaders in the dental membership space, Kleer and Membersy support a combined footprint of 20,000 dentists and millions of patients across all 50 states, and cover the entire spectrum of care, from solo practices to the largest DSOs in the country.
Moving forward as one, Kleer and Membersy will fulfill their mission to deliver a membership payer model that both patients and providers love, enabling patients to gain access to high quality, affordable care and practices to increase patient engagement, improve practice performance, and take control of payer strategy.
“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 market, improving dental practice performance. By bringing these companies together, we will enhance their ability to serve dental practices and patients nationwide.”
Leveraging their complementary strengths, industry expertise, and scale, Kleer and Membersy will create unprecedented value for DSOs, dental practices, and their patients. Stronger together, Kleer and Membersy will continue expanding access to care for all uninsured Americans, including more than 68.5 million adults without dental insurance.
“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 establishing a new business model in dentistry that works better for patients and dental practices alike. I couldn’t be happier working with the Membersy team and Charlesbank to accelerate investment and create value for dental practices at an unprecedented scale.”
Ernst & Young Capital Advisors and Holland & Knight served as advisors to Membersy, while Carlsquare and Gunderson Dettmer served as advisors to Kleer.
Goodwin Procter served as legal advisor to Charlesbank.
About Charlesbank Capital Partners
Based 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 and Membersy
With a combined 20+ years of experience, together Kleer and Membersy are 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 and Membersy provide a membership model that both patients and providers love. The platform enables patients to gain access to high quality, affordable care and practices to increase patient engagement, improve practice performance, and take control of payer strategy.
Hear from Dave Monahan, CEO of Kleer and Membersy, as he
discusses the merger and what is next for subscription dentistry:
