Middle-market private equity firm MBF Healthcare Partners (MBF) on Wednesday announced its acquisition of autism provider Austin Connect to Wellness.

Founded in 2013, the Texas-based provider offers applied behavior analysis (ABA), social skills groups and autism diagnostic assessments to children and teens with autism spectrum disorder. It also offers parent support groups and caregiver training.

Austin Connect brings with it six facilities across Austin and Houston, Texas. It currently works with major insurance providers including UnitedHealthcare, Cigna, Aetna, Blue Cross Blue Shield of Texas and Magellan.

“It was important for us to find a partner who has a successful track record of supporting high-growth health care companies, with specific experience navigating the ABA therapy space, and a commitment to putting patient care first,” ABA Connect founder Kirsten Brooks and Director of Business Operations Tim Plachta said in a joint statement. “This partnership allows us to continue investing in our incredible staff and our systems while facilitating ABA Connect’s ability to expand throughout Texas and to other states.”

“We are truly thrilled to be working with the MBF team,” they added.

Rates of autism have increased significantly in the last decade. Approximately 1 in 44 children are diagnosed with autism spectrum disorder, according to the CDC. That’s up from 1 in 69 children in 2012.

There has also been a major push towards ABA service reimbursement. Now, 49 states have mandated that ABA services are covered, according to MBF.

This isn’t MBF’s first investment in an autism provider. In 2018, the firm purchased Acorn Health, an ABA provider that offers in-office and at-home treatment.

MBF exited that investment in 2021, when it sold the provider to Ontario Teachers Pension Plan Board (OTPP). At the time of the sale, Acorn operated 51 locations.

Of course, MBF isn’t the only private equity investor to take an active interest in behavioral health. In fact, private equity deals made up more than 60% of all behavioral health transactions in the first three quarters of 2022, according to data from The Braff Group.

A number of private equity firms including KKR, Shore Capital and Health Enterprise Partners have placed bets on the autism space.