January 10, 2026
Profits vs. playdates
Private equity firms acquired more than 500 autism centers in past decade: study
Wall Street swoops into 500+ autism clinics — parents fear profit over kids
TLDR: Brown researchers say private equity bought over 500 autism clinics fast, raising worries about profit-driven care for kids on Medicaid. Comments rage over “profit from suffering,” while others push B Corp rules and tighter oversight, blending outrage, policy fixes, and memes—big stakes for families and state budgets.
A new Brown University study dropped like a bomb: private equity firms snapped up 574 autism therapy centers in 42 states, with nearly 80% of deals happening between 2018–2022 and big clusters in California, Texas, Colorado, Illinois and Florida. Researchers warn kids—often on Medicaid—could see care ramped up for revenue, not need, as states with higher autism rates were 24% more likely to have private equity–owned clinics. The mood online? Pure fury. Krasnol blasted it as “profiting from suffering.” Sergiotapia piled on: “PE just squeezes every penny,” while others cite JAMA Pediatrics for receipts and remind everyone that vaccines don’t cause autism—the science is clear.
Then the thread split. Reformers like JumpCrisscross pitch a fix: make patient-facing providers B Corps (public benefit corporations), reserve board seats for clinicians and patients, and cap debt and dividends. Pragmatists like andy99 say this is a signal to regulators—don’t hate the player, write better rules. Meanwhile, gallows humor showed up: threethirtytwo quipped that with so many diagnoses (and Elon Musk openly autistic), “it’s quite lucrative.” The internet’s verdict: a messy clash of outrage vs. regulation vs. cynical memes, all watching to see if kids’ care becomes the next Wall Street playbook. Read the JAMA Pediatrics study for the fine print.
Key Points
- •Private equity firms own 574 autism therapy centers across 42 U.S. states as of 2024.
- •Nearly 80% of acquisitions occurred from 2018 to 2022, encompassing 142 deals.
- •Concentrations are highest in California (97), Texas (81), Colorado (38), Illinois (36) and Florida (36).
- •States with higher childhood autism prevalence are 24% more likely to have private equity–owned clinics; activity is also higher where insurance limits are fewer.
- •Researchers flag potential implications for care intensity and state Medicaid budgets, with concerns about overutilization and disparities.