Two private equity firms and an online college have invested in Conway, Arkansas-based Pediatrics Plus.
The PE firms – Leavitt Equity Partners and Fulcrum Equity Partners – and Western Governors University have invested in and partnered with Pediatrics Plus. However, the company’s founders, Todd and Amy Denton, will remain its largest shareholders and serve on its board of directors.
“We believe this new partnership will accelerate the company’s growth and opportunities to serve more families, and we are excited for this next chapter for Pediatrics Plus,” Amy Denton said in a news release.
Terms of the deal were not disclosed.
The investment, in part, will go to expanding Pediatrics Plus’ market footprint, according to the release. The company will also use the infusion of capital to “enhance our service offerings,” Scott Street, CEO of Pediatrics Plus, said.
Pediatrics Plus is one of a growing number of autism therapy-related businesses that seek to both widen the focus of their business to children with developmental challenges and bring more specialty to bear on these conditions, especially autism. The company fuses applied behavior analysis (ABA), physical therapy, occupational therapy and speech and language pathology services to offer a “blended service model,” according to the company’s website.
Pediatrics Plus operates in Texas and Arkansas. It also operates several other brands across its footprint. They are The Farm by Pediatrics Plus, Community Connections and Rise Counseling & Diagnostics. The company serves about 6,000 children a year.
The next steps for Pediatrics Plus — apart from scaling the platform — are not clear. A request for comment had not been returned prior to Autism Business News publishing this story.
Salt Lake City-based Leavitt Equity Partners, founded by long-time Utah Republican politician and ex-George W. Bush Health Cabinet leader Mike Leavitt, invests in health care companies with six priorities, two of which are “mental and behavioral health” and “value-based payment models,” its website states. It currently holds stakes in NeuroPsychiatric Hospitals and RHA Health Services.
Fulcrum Equity Partners acquired substance use disorder (SUD) treatment provider Defining Wellness Centers in November 2023. It also previously invested in a predecessor organization to Blended Health.
Western Governors University is a Salt Lake City-based nonprofit online college that was founded in 1997 by a bipartisan group of U.S. governors. It operates the education-focused venture capital firm Juvo Ventures.
The year has started off with a flurry of deals.
In the autism therapy space, Ascend Capital Partners acquired a majority stake in Unison Therapy Services in a deal announced last week.
Across the wider behavioral health industry, the behavioral health system Oceans Healthcare acquired Haven Behavioral Healthcare (expanding its footprint into five states), Mindful Health raised a $12 million funding round, and a bankruptcy court cleared the spin off the behavioral health assets of penitentiary-based health care provider Wellpath.