In recent years, the landscape of autism therapy in the United States has undergone significant changes. A recent study reveals that private equity firms are acquiring autism therapy centers at an unprecedented pace. These developments are reshaping the way therapy is delivered, raising both hopes and concerns among parents, clinicians, and policymakers.
According to a study published in JAMA Pediatrics on January 5, 2026, private equity firms have purchased more than 500 autism therapy centers across the United States over the last decade. Nearly 80 percent of these acquisitions occurred between 2018 and 2022. Researchers attribute this rapid growth to rising autism diagnoses, which have made therapy centers an attractive financial opportunity for investors.
The prevalence of autism spectrum disorder (ASD) in the United States has nearly tripled over the last decade. In 2011, 2.3 cases per 1,000 children were identified, while by 2022, the rate had risen to 6.3 per 1,000 children. The highest increases were observed among children aged five to eight. This surge has expanded demand for services like applied behavior analysis (ABA), which has become a cornerstone of therapy for children with ASD.
Yashaswini Singh, a health economist at Brown University and a senior researcher in the study, explained that this growth signals a shift in healthcare investment patterns. Traditionally, private equity has focused on hospitals and other high-revenue medical sectors. The emergence of autism therapy as a profitable target raises questions about the balance between financial interests and patient care.
Autism therapy centers provide specialized services aimed at improving communication, social skills, self-care, and motor abilities in children with ASD. Applied behavior analysis is the most common therapy offered. This evidence-based approach relies on positive reinforcement to encourage skill development.
Autism Speaks, a leading nonprofit organization, highlights that ABA therapy is highly individualized. Programs are tailored to each child, based on their unique strengths and challenges. Families often invest significant time and resources to ensure that therapy sessions are consistent and effective.
The involvement of private equity in healthcare raises concerns that profit motives may take precedence over patient outcomes. Arianna Esposito, vice president of services and supports at Autism Speaks, warned that rapid growth and margin expansion could shift centers away from a service-first model.
Daniel Arnold, a senior research scientist at Brown University and the lead author of the study, emphasized that financial incentives could influence therapy practices. He cautioned that children might receive more services than clinically necessary, which could inadvertently lead to negative outcomes. In addition, disparities in access could worsen if private equity prioritizes high-revenue markets over underserved communities.
The research team analyzed data from PitchBook, a company that tracks activity in global capital markets. Public press releases and websites were also reviewed to identify ownership changes. By 2024, they found 574 autism therapy centers that had been acquired by private equity firms, spanning 42 states.
Most acquisitions occurred between 2018 and 2022, resulting from 147 separate deals. States with the highest numbers of private equity-owned centers included California (97), Texas (81), Colorado (38), Illinois (36), and Florida (36). Interestingly, states with higher childhood autism prevalence were 24 percent more likely to have private equity-owned clinics.
Despite the potential risks, private equity investment could offer some benefits if aligned with clinical priorities. Esposito noted that investment could help expand service availability, reduce waitlists, and improve infrastructure. Smaller providers often struggle to implement training programs, technology platforms, and compliance systems. Financial backing may address these gaps and bring high-quality services to more families.
Singh highlighted the need for careful evaluation. While private investment can improve access to therapy, the long-term effects on quality and patient outcomes remain unclear. The research team is seeking federal funding to investigate how private equity ownership affects therapy intensity, medication use, diagnosis timing, and treatment duration.
The study’s findings have significant implications for healthcare policy. As private equity continues to enter healthcare sectors, regulators and policymakers must ensure that financial interests do not compromise patient care. This includes monitoring therapy standards, pricing, and access to services.
Families rely on autism therapy centers to provide consistent and effective interventions. Any shift toward profit-driven practices could have lasting consequences for children with ASD and their families. Policymakers may need to consider guidelines for ownership structures, transparency requirements, and quality benchmarks for therapy providers.
Parents of children with autism often face long waitlists and high costs when seeking therapy. Private equity investment has the potential to alleviate some of these challenges by increasing capacity. However, families are concerned that financial pressures could reduce individualized attention and result in less effective care.
Clinicians are also navigating the impact of corporate ownership. Therapists may experience pressure to increase patient volume, which could reduce the time allocated for personalized treatment plans. Ensuring that therapy quality remains a top priority is essential for positive outcomes.
The experience of private equity in other areas of healthcare provides cautionary lessons. Studies have shown that when financial incentives dominate clinical decisions, there can be unintended consequences such as overutilization of services, reduced quality of care, and increased disparities. Applying these lessons to autism therapy centers is critical to prevent similar outcomes.
The study underscores the importance of ongoing research to evaluate the effects of private equity ownership on autism therapy. Key areas of investigation include the clinical appropriateness of therapy intensity, patient outcomes, and accessibility for underserved populations.
The research team’s next step involves securing federal funding to conduct comprehensive studies that track therapy quality, service duration, and overall impact on children with ASD. These findings will help guide policy decisions and ensure that private investment supports rather than undermines patient care.
Private equity investment in autism therapy centers represents a significant shift in the U.S. healthcare landscape. While these investments could expand access and improve infrastructure, they also raise concerns about prioritizing profit over patient outcomes. Ongoing research, regulatory oversight, and careful evaluation of clinical practices will be essential to ensure that children with autism receive the high-quality care they need.
Families, clinicians, and policymakers must remain vigilant. Balancing financial investment with patient-centered care is critical to supporting the growing population of children diagnosed with autism spectrum disorder. With proper oversight, private equity could contribute positively by increasing access to services and reducing barriers for families in need.
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Disclaimer
Statistical data and information provided in this article are intended to illustrate general trends and do not represent personalized medical advice. Individual healthcare decisions should always be made in consultation with qualified medical professionals.
