A bankruptcy court has approved the sale of the Center for Autism and Related Disorders (CARD).
The “successful 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, Behavioral Health Business reports.
CARD will likely be split into multiple companies. 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.
