The Sherman Oaks, California-based private equity firm Optimal Investment Group has acquired Orange, California-based autism therapy provider Spectrum Behavioral Therapies.
The terms of the deal were not disclosed. Spectrum Behavioral Therapies plans to use the investment to expand its reach and enhance services. The acquisition is the first investment Optima Investment Group has made in the behavioral health space, according to a review of its public portfolio.
The funds from the investment will specifically be used to expand Spectrum Behavioral Therapies’ footprint, technology infrastructure and workforce.
Spectrum Behavioral Therapies works with children and young adults. The company offers applied behavior analysis (ABA), speech therapy, and occupational therapy, to children with autism up to age 18. Older patients receive community-based ABA, daily living skills training and vocational skills.
Optimal Investment Group has not returned a request for comment.
Other recent deals in the autism therapy space also include other California-based operators. San Mateo, California-based autism therapy provider Opya Care has acquired Center for Autism Spectrum Therapy, Inc. (CAST), which expands Opya into center-based care services. Opya is backed by a $15.4 million Series A round led by several venture capital firms.
While deals like this signify the autism therapy industry’s expansion to new levels of access and relevance in the U.S., they also underscore a significant challenge. The industry is grappling with a shortage of clinicians, a stark contrast to the demand that this fast-growing industry is generating. Research released earlier in the year reveals a staggering 9.2 times increase in the number of jobs available for board-certified behavior analysts in 2023 compared to 2017, highlighting the industry’s struggle to keep up with demand.
