Cathay Capital Invests in Ascendia Autism Care to Expand Access to Evidence-Based ABA Therapy for Children and Families

NEW YORK, June 30, 2026 /PRNewswire/ -- Cathay Capital announced the launch of Ascendia Autism Care, a new platform dedicated to expanding access to evidence-based Applied Behavior Analysis (ABA) therapy for children with autism spectrum disorder and their families. Ascendia begins operations with a founding affiliate that operates 20 centers across eight states, with plans for continued growth through de novo expansion and additional partnerships with leading clinical providers. Cathay Capital's investment is sized to fund both the founding transaction and substantial growth capital for the platform's continued expansion. Financial terms were not disclosed.

An estimated one in 31 children in the United States has been identified with autism spectrum disorder, according to the Centers for Disease Control and Prevention. Demand for ABA therapy continues to outpace supply, and in many communities, families wait months to begin services. ABA is recognized by the U.S. Surgeon General as evidence-based and is now covered by commercial insurance and Medicaid in all 50 states. Yet, access varies sharply by geography and community. The company is committed to narrowing that gap with a clinician-first model centered on outcomes for children and the families who care for them.

Ascendia delivers center-based ABA therapy with a focus on early intervention for children ages two to six. Its clinical team of more than 400 includes over 70 Board Certified Behavior Analysts (BCBAs) and more than 300 Registered Behavior Technicians (RBTs), supported by clinical supervision standards that prioritize close BCBA oversight of each child's program. The affiliate reports a 4.2-star family satisfaction rating.

The company has grown rapidly in recent years, driven by strong organic demand from families and the consistent opening of new clinics. With Cathay Capital's support, Ascendia plans to broaden access in its existing markets and adjacent communities, with new centers planned in all markets over the next 24 months. The platform will continue investing in its clinical workforce and expanding into adjacent channels, including schools and school districts, to deliver autism therapy in educational settings where children spend much of their day. These school-based programs allow families, educators, and clinicians to coordinate more closely around each child's goals and progress.

"Family-centered providers represent the kind of mission-driven, clinically rigorous business we are proud to back," said Mark Woods, Partner, Head of North American Private Equity at Cathay Capital. "Our role is to provide the resources and operating support to extend their work to more children and families, at the same level of quality that has earned them the trust they have today. ABA is a long-term commitment to children, families, and the dedicated clinicians who serve them. We are focused on supporting that mission."

"There is a significant unmet need for ABA therapy for children with autism spectrum disorder and evidence demonstrating the clear benefits of early, comprehensive intervention," said Jackson Catalano, Vice President at Cathay Capital. "Through our partnership with Ascendia, we aim to expand access to high-quality care, create continued opportunities for clinicians and employees, and support a best-in-class clinical experience for the children and families Ascendia serves."

Gladstone Capital Corporation (NASDAQ: GLAD) was a capital partner in the transaction, Berkery Noyes served as financial advisor, and Haynes Boone served as legal counsel to Cathay Capital.

About Ascendia Autism Care

Ascendia Autism Care is a clinician-led platform investing in and partnering with leading providers of ABA therapy. Ascendia partners with operators who share a commitment to clinical quality, family experience, and expanding access for the children and families who need care. The platform was launched in 2026 with the backing of Cathay Capital. For more information, visit: www.ascendiaaustismcare.com.

About Cathay Capital

Cathay Capital is a global private equity and venture capital investment firm supporting healthcare, technology and consumer companies throughout North America, Europe, and Asia. The firm helps middle-market companies and startups navigate opportunities for growth, international expansion, and sustainable transformation. Cathay is the partner of choice for companies aspiring to lead markets and make a positive impact. Its platform connects people with global reach and local expertise – from investors and entrepreneurs to management teams and leading corporations – to share knowledge, the tools to scale and to transform businesses.

Founded in 2007 with a strong entrepreneurial heritage, Cathay Capital now manages more than $5.5 billion in assets. It has made over 250 investments in verticals including healthcare, technology, and consumer from offices in New York, San Francisco, Paris, Munich, Berlin, Madrid, Shanghai, Beijing, Shenzhen, and Singapore. For more information, visit: www.cathaycapital.com.

About Gladstone Capital Corporation

Gladstone Capital Corporation is a publicly-traded business development company that invests in debt and equity securities, consisting primarily of secured first and second lien term loans to lower middle market businesses in the United States. For more information, please visit www.gladstonecapital.com.

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SOURCE Cathay Capital