How Private Equity Is Buying Up Pediatric Therapy Clinics

The Buyout Show with Fexingo: Private Equity, Roll-Ups, and Business Acquisitions · Jun 28, 2026 · 8m · transcript

Private equity has quietly consolidated autism therapy, speech therapy, and occupational therapy practices across the US. This episode drills into the roll-up strategy behind pediatric therapy clinics — specifically the $2.8 billion acquisition of BlueSprig Pediatrics by KKR in 2021 and the subsequent platform-building that followed. Lucas explains the reimbursement dynamics (Medicaid vs. commercial insurance), the shortage of board-certified behavior analysts, and why PE firms see 20% EBITDA margins in a fragmented service market. Luna questions whether the model can sustain quality care…