A bankruptcy court has approved the sale of the Center for Autism and Related Disorders (CARD).
The bid has a $48.5 million price tag and comes from a pair of companies — Pantogran, an organization led by CARD founder and former CEO Doreen Granpeesheh, and a consortium made up of PE firm Audax Group and its portfolio companies, including Proud Moments ABA and New Story.
CARD will likely be split into multiple companies, Behavioral Health Business reports. Pantogran will pay $37.4 million and take control of 10 CARD state markets and other assets. The remainder will be split between Audax’s portfolio companies for $11.1 million, according to a review of the sale documents and several other court papers. Read more.
