Welsh, Carson, Anderson & Stowe (WCAS) announced earlier this month that it will acquire a majority ownership stake in LIBERTY Dental Plan Corp.

LIBERTY, based in Irvine, Calif., is a dental benefits administrator. Founded in 2002, the company states it administers dental benefits in all 50 states.

WCAS, based in New York, is a private equity firm focused exclusively on the healthcare and technology industries. Founded in 1979, the firm targets growth-oriented companies with an investment strategy that is deal-size agnostic.

Anthem, a LIBERTY customer, will become a minority investor in the company.

The transaction is expected to close later this year. Terms were not disclosed.