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Provident Healthcare Partners Provident Healthcare Partners

Q3 2025 Behavioral Health Update

Provident Healthcare Partners
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Q3 2025 Behavioral Health Update

Subsector Spotlight: Autism Services

M&A in autism services remains attractive given strong demand, a fragmented market, and the opportunity to create value through scale. Valuations for add-on acquisitions peaked in 2022 but have since normalized to a sustainable range, while larger platforms with diversified reimbursement and regional density continue to command premium multiples. Private equity has remained active, with new platforms and successful exits highlighting market confidence in sector fundamentals and growth potential.

Labor shortages and reimbursement pressures remain challenges in ABA, driving higher costs and lower margins. Despite this, investors have built a thesis of leveraging scaled platforms to mitigate these issues through operational efficiencies and payor relationships. Investors see long-term value in groups positioned to navigate these headwinds while capitalizing on strong underlying demand.

To print and download the full Behavioral Health Update report, please click below…

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