ABS Kids, a multi-site applied behavior analysis (ABA) provider, now operates 31 locations in California, North Carolina, Tennessee and Utah. It recently expanded its footprint with new offices in Tooele, Utah, and Concord, North Carolina.
“Our vision is to make high-quality ABA care accessible to children and families with ASD across the nation, and we’ll continue to grow toward that vision,” Jeff Skibitsky, president of ABS Kids, said in a statement.
The company provides in-home, in-school and center-based therapy. It also provides diagnostic services, care planning, and community integration.
Founded in 2011, public U.S. Securities and Exchange Commission documents show the company has raised at least $25.5 million. Its latest disclosure was filed in March 2023. The private equity firms Petra Capital Partners, based in Nashville, Tennessee, and Morgan Stanley Expansion Capital. The latter announced that it invested in the company in August 2019 but didn’t disclose the amount.
Petra Capital Partners acquired ABS Kids in 2017 in partnership with MMC Health Services.
The new centers reflect a strategy many in 2023 pointed to as an ideal growth strategy. Several industry insiders have previously told Autism Business News that high-interest rates, the overwhelming demand for ABA services and questionable valuations made de novo growth the ideal path through 2023.
With 2023 in the rearview mirror, data from the Braff Group shows that deal volume in autism therapy is among the highest in behavioral health but is trending down after a particularly slow year. The Braff Group tracked 22 deals in 2023 and 41 in 2022.
“ABS Kids advocates for the autism community, and we’re working to bring more care options to help families and children affected by ASD,” ABS Kids CEO Adam Singer said in a statement.
Data from PitchBook shows that Petra Capital Partners has been one of the most active private equity firms in health care in recent years. It has made 11 platform deal investments since 2020. It has made 11 platform deal investments since 2020. Its portfolio has other behavioral health assets, including Nashville, Tennessee-based Acute Behavioral Health and Dallas-based Turnwell Mental Health Network.
