Wisconsin
What the auditors found in this state's Medicaid autism-therapy spending, and who owns the clinics here. The two are shown side by side and are not joined.
This audit blames no owner, and neither does this page
The report audits Wisconsin's Medicaid program, not any company. It names no provider and no ownership type, and the findings apply across every ABA provider billing the state. Nothing below should be read as saying private equity caused any part of it. The two facts are published together because they describe the same market, not because one explains the other.
The audit
Wisconsin Made at Least $18.5 Million in Improper Fee-For-Service Medicaid Payments for Applied Behavior Analysis Provided to Children Diagnosed With Autism
U.S. Department of Health and Human Services, Office of Inspector General · issued 2025-07-01 · payments examined: 2021-2022
- Every one of the 100 sampled enrollee-months contained at least one improper or potentially improper claim line.
- OIG recommended the state give ABA facilities additional guidance on documenting ABA and perform periodic statewide post-payment review.
The report also records how fast this spending grew: $39.9M in 2018 to $53.7M in 2022. That growth is the reason the programme is being audited at all, and it is the same growth that made the sector attractive to buyers.
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Who owns the clinics in Wisconsin
| Brand | Owner | Clinics |
|---|---|---|
| Caravel Autism Health | GTCR | 27 |
| Wisconsin Early Autism Project | Gryphon Investors | 18 |
| Total Spectrum Autism Services | Gryphon Investors | 3 |
Measured against the federal registry, private equity holds 2% of Wisconsin's 102 ABA locations. That share is a floor, for the reasons in the methodology.
Of the 48 clinics above, the federal provider registry can see 2. The rest appear only in the operators' own published directories. An auditor or a regulator working from federal data alone would not know the others exist, which is the practical case for ownership transparency and is documented in full on the reconciliation page.
The sharpest ownership-visibility case in the dataset: 48 tracked private-equity-owned centres, of which the federal registry sees 2.