Mergium analyzes mergers, acquisitions, and private placements in the autism services and pediatric therapy sectors, with data spanning 2019 to mid-2025.

Examining the number of M&A transactions by type of buyer / transaction - per year (see chart below), we observe a significant surge in overall M&A activity from 2020 to 2022, followed by a moderation in 2023 and 2024, and a resurgence in 2025. With 73 transactions already recorded through Q3 2025, this year appears to be on track to surpass 2023 and 2024, indicating a renewed appetite for M&A.

The mergers and acquisitions activity has been driven by PEs through direct acquisition and/or through their Platform practices. This increa