August 29, 2018
Caravel Autism Health (“Caravel”), a leading provider of Applied Behavioral Analysis (“ABA”) therapy to children on the autism spectrum, announced today a strategic investment by Frazier Healthcare Partners.
The investment will allow Caravel to pursue geographic expansion and additional treatment models to serve the needs of more children and their families. It will also support Caravel’s focus on clinical excellence and best-outcomes using ABA therapy. Finally, the additional investment in technology initiatives will enhance quality, outcome data tracking and efficiency in delivery of autism treatment.
For over 27 years, Frazier Healthcare Partners has been investing in high quality healthcare providers, like Caravel, with a successful track record of supporting and empowering the existing management teams of the companies in which they invest. The Caravel management team of Mike Miller, Chief Executive Officer, Eric Lund, Chief Clinical Officer, and Chris Van Dyke, Chief Operating Officer, will continue to lead the Company going forward along with the rest of the current Caravel Team.
Caravel CEO Mike Miller said, “While we’ve taken tremendous steps forward in growing to serve the needs of children on autism spectrum, there is more we can do to expand geographically and provide more access to high quality autism treatment in our current service areas. We see an opportunity to enhance the quality of autism treatment through our best practices and investment in technology to track outcome data and increase efficiency. Frazier has demonstrated support for our mission, values and strategic goals and their experience in healthcare will be a key to our future success.”
“Frazier Healthcare Partners has made a strategic investment in Caravel Autism Health to back the team as they expand best-in-class autism treatment and outcomes to more clients and their families,” said Dr. Nathan Every, M.D., Frazier General Partner. “We have evaluated many investment opportunities in the autism treatment sector and we believe Caravel represents a truly unique combination of clinical excellence and growth-oriented leadership. We are excited to partner with Caravel and support the company as it further develops as a leader in the field of autism treatment.”
The transaction closed in early August. Terms were not disclosed. TripleTree acted as the exclusive financial advisor to Caravel for this transaction. Caravel’s legal advisors were Winston & Strawn and Husch Blackwell. Frazier was advised by Goodwin Procter.
About Caravel Autism Health
Founded in 2009, Caravel Autism Health is devoted to helping families navigate the challenges of childhood autism. Caravel’s team of autism health experts specializes in the evaluation, diagnosis and treatment of children on the autism spectrum. Caravel offers research-based programs using the principles of Applied Behavior Analysis, helping children living with autism reshape their development and embrace new ways of interacting with the world. Caravel operates nine clinics across Illinois and Wisconsin, providing in-home, individualized treatment programs designed to help children develop skills, create connections and build confidence.
For more information about Caravel, visit the company’s website at: www.caravelautism.com.
About Frazier Healthcare Partners
Founded in 1991, Frazier Healthcare Partners is a leading provider of growth and venture capital to healthcare companies. With nearly $4.2 billion total capital raised, Frazier has invested in over 170 companies, with investment types ranging from company creation and venture capital to growth capital and buyouts of profitable lower-middle market companies. Frazier has offices in Seattle, WA and Menlo Park, CA, and invests broadly across the US, Canada, and Europe. For more information about Frazier Healthcare Partners, visit the company’s website at: www.frazierhealthcare.com.
For information, please contact:
Barbara Coniff
Client Experience Manager
Caravel Autism Health
(920) 430-0498
[email protected]
www.caravelautism.com
