Cathay Capital announced the launch of Ascendia Autism Care, a new platform focused on expanding access to evidence-based Applied Behavior Analysis therapy for children with autism spectrum disorder and their families. Financial terms of the investment were not disclosed.
Ascendia begins operations with a founding affiliate that operates 20 centers across eight states. Cathay Capital said its investment is sized to fund the founding transaction and provide substantial growth capital for the platform’s continued expansion.
Ascendia plans to grow through de novo expansion and additional partnerships with leading clinical providers. The company will focus on broadening access in existing markets and adjacent communities, with new centers planned in all markets over the next 24 months.
The platform is being launched at a time when demand for ABA therapy continues to outpace supply. An estimated one in 31 children in the U.S. has been identified with autism spectrum disorder, and many families wait months to begin services.
ABA therapy is recognized by the U.S. Surgeon General as evidence-based and is covered by commercial insurance and Medicaid in all 50 states. However, access still varies significantly by geography and community, creating a need for providers focused on quality and scale.
Ascendia delivers center-based ABA therapy with an emphasis on early intervention for children ages two to six. The company’s clinical team includes more than 400 professionals, including over 70 Board Certified Behavior Analysts and more than 300 Registered Behavior Technicians.
The company said its clinical supervision standards prioritize close BCBA oversight of each child’s program. Its founding affiliate reports a 4.2-star family satisfaction rating.
With Cathay Capital’s support, Ascendia also plans to invest in its clinical workforce. The platform is expected to expand into adjacent channels, including schools and school districts, to deliver autism therapy in educational settings.
Ascendia said school-based programs can help families, educators, and clinicians coordinate more closely around each child’s goals and progress. This strategy supports the company’s broader mission of increasing access to high-quality care where children spend much of their day.
Gladstone Capital Corporation was a capital partner in the transaction. Berkery Noyes served as financial advisor, and Haynes Boone served as legal counsel to Cathay Capital.
Ascendia Autism Care is a clinician-led platform that invests in and partners with providers of ABA therapy. The company partners with operators committed to clinical quality, family experience, and expanding access for children and families who need care.
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“Family-centered providers represent the kind of mission-driven, clinically rigorous business we are proud to back. Our role is to provide the resources and operating support to extend their work to more children and families, at the same level of quality that has earned them the trust they have today. ABA is a long-term commitment to children, families, and the dedicated clinicians who serve them. We are focused on supporting that mission.”
Mark Woods, Partner and Head of North American Private Equity at Cathay Capital
“There is a significant unmet need for ABA therapy for children with autism spectrum disorder and evidence demonstrating the clear benefits of early, comprehensive intervention. Through our partnership with Ascendia, we aim to expand access to high-quality care, create continued opportunities for clinicians and employees, and support a best-in-class clinical experience for the children and families Ascendia serves.”
Jackson Catalano, Vice President at Cathay Capital
