Private equity investor Blackstone is set to acquire the Center for Autism and Related Disorders (CARD) in a transaction that is expected to close later this year. Founded in 1990, CARD offers center-, school-, and home-based behavioral therapy in 32 states with 192 locations.
In January, it also announced the opening of eight new centers, and at least one more center is in the pipeline. CARD uses the principles of applied behavior analysis (ABA) to treat autism spectrum disorder for children and adults. Remote clinical services and specialized intensive outpatient services are available, and the organization also leverages proprietary software for treatment planning and ongoing monitoring.
According to the announcement, CARD Founder and CEO Doreen Granpeesheh, PhD, will invest alongside Blackstone in the transaction and will remain in the leadership role. Terms of the deal were not disclosed.
Blackstone was advised by Kirkland & Ellis LLP and Cain Brothers, a division of KeyBanc Capital Markets. CARD was advised by Nevers, Palazzo, Packard, Wildermuth & Wynner, PC, and Berkery Noyes.
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