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Alternative Behavior Strategies Receives Funding from Morgan Stanley Expansion Capital
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Press Release
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August 19, 2019
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Alternative Behavior Strategies Receives Funding from Morgan Stanley Expansion Capital
Alternative Behavior Strategies Receives Funding from Morgan Stanley Expansion Capital
Alternative Behavior Strategies Receives Funding from Morgan Stanley Expansion Capital |
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LOS ANGELES, CA – August 19, 2019 07:30 EDT
Alternative Behavior Strategies (ABS), a leading provider of services to children with autism spectrum disorders, announced today it has received funding from private equity platform Morgan Stanley Expansion Capital along with Petra Capital Partners, investing in the next stage of ABS’ growth. The funding amount was not disclosed.
“As demand from families for effective autism services increases and more states mandate insurance coverage for diagnosis and treatment, the need for high quality professional services will continue to expand exponentially,” said Melissa Daniels, Managing Director of Morgan Stanley Expansion Capital. “We are excited to partner with Alternative Behavior Strategies, a leader in providing comprehensive care to children with autism, as they aim to meet this growing need for high quality services. We believe the company is well positioned given its seasoned and experienced management team, established integrated care model, and scalable platform, and look forward to working with management to build on their success as ABS enters in its next phase of growth."
Autism is one of the fastest growing developmental disorders. One in 40 children in the U.S. has been identified with autism spectrum disorder (ASD), according to the December 2018 issue of Pediatrics.i This is an increase from a study conducted in 2014 by the Centers for Disease Control and Prevention (CDC) that estimated about 1 in 59 children in the U.S. were identified with ASD.ii
“With this new investment, ABS will be able to continue its rapid growth, expand services in comprehensive centers, and break ground in new markets and with technologies such as the ABS Virtual Office,” said Adam Singer, M.D., CEO of ABS. “This additional capital will also allow us to invest in training and expanding our staff to keep up with the demand for our services, as well as deepen our outreach in the community to help even more children and families.”
“We decided to partner with Morgan Stanley Expansion Capital and re-invest in ABS given the clear leadership position the company has established with its management and clinical teams, its use of innovative technology in the delivery of quality services and ABS’s proven execution to date. This new partnership with Morgan Stanley Expansion Capital will continue to enhance ABS’s market leadership position, and accelerate its expansion into new markets,” said ABS investor David Fitzgerald, Partner, Petra Capital Partners.
ABS provides therapy which is based on Applied Behavior Analysis (ABA), a successful evidence-based treatment for children with autism. Earlier this year, ABS rolled out its ABS Virtual Office, the first smart phone-based platform to connect autism behavioral therapists to the information and knowledge they need—wherever they are—to enhance services and promote clinical excellence and advancement. Because ABS therapists spend as much as 80 percent of their time in the field providing therapy, the platform gives them real-time access to electronic clinical records, as well as to the collective wisdom of the company while treating a child, when this information is most vital.
This fall, ABS will open its first comprehensive community-based center to provide adapted playgrounds and intensive therapy in all day sessions, so that working parents can bring their children for the day. This center is based in the Salt Lake City, Utah, area, with additional centers planned for other regions.
About Alternative Behavior Strategies
Alternative Behavior Strategies (ABS) is dedicated to providing services to children with developmental delays and their families. The company provides wrap-around care enabling children and their families to obtain the services they need in one place. Services include applied behavior analysis (ABA), and speech therapy and occupational therapy designed to complement ABA services, as well as diagnostic evaluations and social skills groups. ABS operates in California, Utah and North Carolina. ABS is designated as a Top Behavioral Service Provider by the Behavioral Health Center of Excellence. For more information: https://alternativebehaviorstrategies.com/.
About Morgan Stanley Expansion Capital
Morgan Stanley Expansion Capital is a private equity platform targeting late-stage growth investments in technology, health care, consumer, digital media and other high-growth sectors. For over three decades, Morgan Stanley Expansion Capital has successfully pursued growth investment opportunities and has completed investments in over 190 companies leveraging the global brand and network of Morgan Stanley. For more information, please visit www.morganstanley.com/im/expansioncapital.
About Petra Capital Partners
Petra Capital Partners is a Nashville, TN-based private equity firm engaged in providing growth capital for healthcare, technology and business services companies located throughout the United States. Petra’s team specializes in partnering with outstanding management teams to provide creatively structured capital solutions for high growth companies in a collaborative manner. Petra has a proven track record of success assisting entrepreneurs, management teams, and co-investors in building sustainable high-growth companies. Petra’s record spans 20+ years investing more than $700 million in over 100 companies. For more information, please visit www.petracapital.com.