Center for Autism and Related Disorders (CARD): Can Doreen Granpeesheh Turnaround the Behavioral Health Services Firm?
| Case Code: LDEN204 Case Length: 10 Pages Period: 1990-2023 Pub Date: 2023 Teaching Note: Available |
Price: Rs.400 Organization : Center For Autism & Related Disorders (CARD) Industry :Healthcare and Services Countries : United States Themes: Women Entrepreneurs, Growth Strategy, Entrepreneurship,Entrepreneurship,Venture Capital |
Abstract Case Intro 1 Case Intro 2 Excerpts
Introduction
On June 13, 2023, one of the biggest US treatment centers for autistic children, the Center for Autism and Related Disorders (CARD), filed for bankruptcy after its private equity sponsor, Blackstone Inc. (Blackstone), that majority-owned CARD, put the struggling company up for sale. The COVID-19 pandemic, which led to a stoppage of in-person services at many of CARD’s 130 centers where patients received one-on-one care, was blamed for the company’s bankruptcy. CARD’s difficulties persisted even after pandemic-related restrictions were relaxed, as prices surged. Rising interest rates on its US$245 million debt, unfeasible rent charges for its 130 sites, and unsustainable long-term relationships with government and private healthcare providers all impacted CARD’s finances..
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