Welsh, Carson, Anderson & Stowe Acquires Greater part Stake in LIBERTY Dental System Corporation

IRVINE, Calif. & NEW YORK–(Enterprise WIRE)–LIBERTY Dental Program Corporation (LIBERTY) and Welsh, Carson, Anderson & Stowe (WCAS) today introduced the get-togethers have entered into a definitive settlement via which WCAS will make an fairness investment decision and develop into the vast majority trader in LIBERTY. Anthem, Inc. (NYSE: ANTM), a leading overall health enterprise and a LIBERTY consumer considering that 2010, will also come to be a minority investor. Terms of the arrangement have been not disclosed.

This agreement with WCAS, a health care and technology-concentrated expense firm, will empower LIBERTY to increase into extra markets and provide a increased quantity of customers. These investments will push impressive member engagement approaches targeted, person-centered care and enhanced high quality and results.

“Today’s announcement is an amazing validation of what LIBERTY has been ready to carry out since its founding in 2002. We have pioneered the transformation to price-centered care in the dental industry, ensuing in enhanced outcomes, lower expense of treatment, and bigger member engagement,” explained Amir Neshat, DDS, founder and CEO of LIBERTY. “This is an additional important milestone for LIBERTY and will support us quick-observe our investments in technology and our industry-major dental care management plans to serve even much more members.” Dr. Neshat will carry on as the CEO of LIBERTY.

Tom Scully, a Typical Partner at WCAS and previous administrator of the Facilities for Medicare and Medicaid Companies (CMS), mentioned, “Demand is obviously growing for in depth dental solutions in Medicare, Medicaid and other public courses. LIBERTY is beautifully located to provide that increasing marketplace, and Dr. Neshat is exactly the variety of revolutionary and inspirational leader with whom we appear to companion to build terrific health care businesses.”

“Research proceeds to underscore the worth of oral treatment as a important issue in general wellness,” Dr. Adaeze Enekwechi, an Functioning Husband or wife at WCAS and previous head of Wellbeing Programs at the White Dwelling Place of work of Administration and Finances (OMB), added. “We are energized about doing the job with LIBERTY to greater combine dental and physical treatment for enhanced complete-overall health outcomes in youngsters and older people.”

“Access to dental care is critical to consumers’ general health and fitness and wellbeing and it is a very important aspect of Anthem’s method to provide as a life span trustworthy health husband or wife. We are psyched to do the job alongside WCAS, LIBERTY, and its state and wellness plan associates to establish on the achievements of Dr. Neshat and his crew in this significant and increasing area of health care,” reported Morgan Kendrick, Executive Vice President and President of Anthem’s Business and Specialty Organization.

The transaction is expected to near later this calendar year immediately after customary regulatory assessments.

Cain Brothers and Macquarie Cash served as economical advisors, and Debevoise & Plimpton LLP acted as authorized advisor for LIBERTY. Sidley Austin LLP acted as lawful advisor for WCAS, and Faegre Drinker Biddle & Reath LLP acted as authorized advisor for Anthem.

About LIBERTY Dental Program Company

LIBERTY is a dental benefits administrator established by dentists and health field pros in 2002. LIBERTY presently administers dental added benefits in all 50 states, such as on behalf of 5.8 million Medicaid, Medicare Gain, professional and trade customers. LIBERTY operates and lives by its motto “Making Users Shine — A single Smile at a Time.”

About Welsh, Carson, Anderson & Stowe

WCAS is a leading U.S. non-public fairness agency concentrated on the technologies and healthcare industries. Given that its founding in 1979, the firm’s system has been to partner with excellent administration groups and make value for its buyers through a mixture of operational advancements, growth initiatives, and strategic acquisitions. The business has raised and managed resources totaling around $30 billion of fully commited cash.

About Anthem, Inc.

Anthem, Inc. is a major overall health firm devoted to increasing life and communities, and producing health care less complicated. As a result of its affiliated firms, Anthem serves extra than 118 million folks, like extra than 45 million inside of its household of health options. Delivering well being over and above health care, Anthem is growing from getting a partner in well being rewards to a lifetime, dependable well being spouse.

Source: https://www.businesswire.com/news/dwelling/20220302005327/en/Welsh-Carson-Anderson-Stowe-Acquires-The greater part-Stake-in-LIBERTY-Dental-Plan-Company