Q4 2025 Behavioral Health Update

Q4 2025 Behavioral Health Update

Subsector Spotlight: Autism Services

The autism services M&A market closed out the year with significant momentum as several notable deals transacted in Q4. The most notable transaction of the quarter came with Webster’s sale of InBloom Autism Services to Elysium Management, highlighting the continued demand for scaled platforms with differentiated clinical models. Strategic buyers were also active, as My Favorite Therapists, Behavioral Health Works, and Behavioral Framework all executed on add-ons over the quarter.

Looking ahead, we expect continued platform and exit activity as sellers seek to capitalize on what remains a constructive and seller-friendly valuation environment. Provident is also closely tracking evolving payor behavior, as 2025 has seen rate pressure in certain markets and increased utilization scrutiny nationwide driven by insurer cost-containment efforts.

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