Blackstone-Backed Autism Treatment Center Files for Bankruptcy

One of the biggest US treatment centers for autistic children filed for bankruptcy after its private equity sponsor, Blackstone Inc., put the struggling company up for sale.

The Center for Autism and Related Disorders, known as CARD, will try to sell itself while under court protection in Houston within two months, faster than normal for large corporate bankruptcy cases.

The company blamed its bankruptcy on the pandemic, which forced the temporary shutdown of in-person services at many of the 130 centers where patients receive one-on-one care. CARD’s struggles continued after Covid-related restrictions were lifted as inflation and a ...