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Feb 01,2019
TPG Capital and Lani Fritts Partner to Launch Kadiant

Leading, global healthcare investor and experienced  industry executive partner to establish new autism services company

Fort Worth, Texas and San Francisco – February 1, 2019 – TPG  Capital announced today that it has entered into a partnership with Lani Fritts,  a highly-regarded and accomplished leader in behavioral health, to form Kadiant  Inc. Kadiant is a mission-driven organization that seeks to provide  high-quality Applied Behavior Analysis (ABA) therapy and related critical  services to individuals diagnosed with autism spectrum disorder (ASD).

Kadiant is committed to building a leading autism services  company by providing the best clinical outcomes and client experience. Kadiant  will focus on partnering with existing high-quality providers to develop the  depth and breadth of their services, integrating them into a common  organization, and expanding access by opening new locations. 

TPG Capital has  committed $300 million of equity capital to support Kadiant’s launch and growth  strategy. Lani Fritts will serve as the Chief Executive Officer of the new  company. Fred Cohen, M.D., Co-Founder of Vida Ventures, will serve on Kadiant’s  board. Vida Ventures will invest in the platform alongside TPG Capital.

Today, approximately one in 40 children across the country are  diagnosed with ASD. The number of those affected by ASD has quadrupled over the  past 15 years, and throughout this time, ABA therapy has emerged as the  principal form of treatment. The method, which involves intensive in-person  behavioral therapy, is widely-recognized as the most effective standard for  care. Currently, it is estimated that more than 15 percent of individuals with  ASD seeking ABA therapy are on waitlists.

“Kadiant  aspires to enable individuals with autism to live their absolute best lives,”  said Fritts. “With a passionate commitment to rigorous clinical standards,  research, and outcome-driven approaches, and an exceptional mission-driven  focus, we are striving to create an empowered community for our clients, their  families, and our team members. I am thrilled to work with TPG; their deep  understanding of excellence and innovation in healthcare make them the ideal  partner to fulfill this mission.”

In 2009, Fritts  co-founded Trumpet Behavioral Health, a leading provider of ABA therapy for  children, adolescents, and adults with ASD. Fritts was also a founding board  member and the first treasurer of The Council for Autism Service Providers, a  nonprofit association focused on cultivating, sharing, and advocating for  provider best practices in autism services.

“Despite  growing awareness of the need for autism services, many living with ASD still  do not have easy access to high-quality, specialized care. With Kadiant, we  hope to positively impact this imbalance by building an organization focused on  providing clinical and operational excellence at scale,” said Katherine Wood of  TPG Capital. “TPG Capital’s healthcare team has a long history of partnering  with management to build companies that deliver value to the healthcare system,  improve the lives of patients, and create new opportunities for employees. It’s  a privilege to partner with Lani, who shares these core values, and I look  forward to working together to deliver on Kadiant’s mission.”

Dr. Cohen is a 30-plus  year veteran of the medical and life sciences industry, as a physician,  investor, and entrepreneur. He is the Co-Founder of Sweetwater Spectrum, a  nonprofit, long-term living community for adults with ASD located in Sonoma, California.

I have been involved with the ASD community for decades  in both a professional and personal capacity and have witnessed firsthand the  positive impact that a dedicated ABA treatment program can achieve,” said Dr.  Cohen. “I have known the TPG healthcare team for many years, and I am confident  in the insight and strong business-building capability they will bring to the  Kadiant platform. Their expertise, combined with Lani’s track record of serving  the ASD community, make for an exciting combination.” 

About TPG

TPG is a  leading global alternative asset firm founded in 1992 with more than $103  billion of assets under management and offices in Austin, Beijing, Boston,  Dallas, Fort Worth, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow,  Mumbai, New York, San Francisco, Seoul, and Singapore. TPG's investment  platforms are across a wide range of asset classes, including private equity,  growth venture, real estate, credit, and public equity. TPG aims to build  dynamic products and options for its investors while also instituting  discipline and operational excellence across the investment strategy and  performance of its portfolio. For more information, visit www.tpg.com

About  Kadiant

Established in  2019 as a partnership between Lani Fritts and TPG Capital, Kadiant is a  mission-driven company that seeks to provide high-quality Applied Behavior  Analysis (ABA) therapy and related critical services to individuals diagnosed  with autism spectrum disorder (ASD). Kadiant will focus on building excellent  clinical teams and expanding access to services by acquiring and integrating  existing high-quality providers and opening new locations as part of a strategy  to build a leading autism services organization. Kadiant is committed to  delivering the best clinical outcomes and the best client experience. For more  information, visit www.kadiant.com

About Vida  Ventures

Vida Ventures  is a next-generation life sciences investment firm founded in 2017 by a group  of scientists, physicians, entrepreneurs and investors passionate about  building and funding breakthroughs in biomedicine. Together they form an  independent, bold investment group bound together by a simple word – life. Its  mission is to bring science to life and advance transformative biomedical  innovations that have the potential to make a meaningful difference for  patients. Vida has a bicoastal presence and currently manages approximately  $295 million. For more information on Vida Ventures, please visit www.vidaventures.com, on LinkedIn or  follow on Twitter @Vida_Ventures.

Media  Contact

TPG Capital 
Luke Barrett
media@tpg.com