Investment funds managed by Morgan Stanley Capital Partners (MSCP) announced they completed the sale of Clarity Software Solutions (Clarity or the Company), a leading provider of health plan member communication services, to mPulse. Financial details of the transaction were not disclosed.
Headquartered in Madison, Connecticut, Clarity is a technology enabled provider of member multimodal communications and engagement solutions for health insurance providers, third party administrators and dental insurance companies. The company aims to streamline communication processes, enhance member engagement, and help healthcare organizations meet regulatory requirements. Since MSCP’s initial investment in 2019, Clarity increased their focus on product development and technology innovation. MSCP also invested in the management team by making several key hires to advance the Company’s capabilities.
Commenting on the sale, Steve Rodgers, Managing Director and Head of Healthcare Investing at MSCP said: “We’re proud to have partnered with the team at Clarity to help accelerate their business objectives to help healthcare organizations enhance and further personalize their member communications. Our partnership has expanded Clarity’s service capabilities and we believe the company is better positioned to help clients connect with their members and provide more transparent, higher quality healthcare."
State Mongelli, CEO of Clarity commented: “We are very pleased with the value that Morgan Stanley was able to add over the course of their hold period. They took a unique approach to partnership by including their in-house operating expertise led by Patrick Whitehead. This enabled us to think more strategically about where we wanted to take Clarity and knowing we had the support to deliver on this. As a result, we were able to effectively execute on a number of initiatives which have positioned us to succeed under our next chapter of ownership”
William Blair acted as lead financial advisor and Lincoln International acted as financial advisor to Clarity. Dechert was retained as legal counsel and Alvarez and Marsal for financial diligence. Dechert was retained as legal counsel and Alvarez and Marsal for financial diligence.