Positive Development Secures $45 Million Growth Facility to Expand Access to Developmental Therapy and Autism Diagnostics Nationwide

Key Terms

non-dilutive financing financial

Financing that provides cash to a company without issuing new shares or reducing existing shareholders’ ownership stakes, such as grants, loans, or royalty and partnership deals. It matters to investors because it preserves each shareholder’s percentage of the company and potential future earnings—think of it as getting money by borrowing or winning a prize rather than selling extra slices of the ownership pie—though it can shift risks toward debt or contractual obligations.

debt financing facility financial

A debt financing facility is an arranged loan or line of credit a company can draw on under agreed terms, interest rates and repayment schedules — like a pre-approved credit card or mortgage for a business. Investors watch these facilities because they affect how much cash a company has, how much it pays in interest, and how risky the business is: heavy or expensive debt can squeeze profits or trigger restrictions that limit growth.

credit facility financial

A credit facility is a flexible loan arrangement that allows a borrower to access funds up to a set limit whenever needed, similar to a company having an overdraft option on a bank account. It matters to investors because it indicates how easily a business can secure cash when required, affecting its ability to manage expenses, invest, or respond to financial challenges.

medicaid regulatory

Medicaid is a government-funded health insurance program that provides medical coverage to low-income individuals, families, elderly people and people with disabilities, administered jointly by the federal government and state governments in the United States. For investors, Medicaid matters because changes in eligibility, funding, or payment rules can alter patient volume and the prices hospitals, nursing homes, insurers and medical suppliers receive—similar to how a large customer or contract can shift a company’s revenue outlook.

• New non-dilutive financing will support geographic expansion, acquisitions and increased access to developmental therapy for autistic children.
• Facility provided by Silicon Valley Bank and Pinegrove Venture Partners refinances existing credit facility and strengthens the company’s balance sheet.

MCLEAN, Va.--(BUSINESS WIRE)-- Positive Development, the nation’s leading provider of developmental therapy for autistic children and their families, today announced the closing of a debt financing facility for up to $45 million provided by Silicon Valley Bank (SVB), a division of First Citizens Bank, and Pinegrove Venture Partners (Pinegrove).

The new facility refinances Positive Development’s existing credit facility, and provides flexible, non-dilutive capital to support its next phase of growth. The financing will be used expand and strengthen the company’s developmental therapy and autism diagnostics services into new and existing geographies across the United States, pursue strategic acquisitions and increase access to care for families through both commercial and Medicaid health plans.

The financing builds on strong momentum, including Positive Development's recent $51.5 million Series C financing and the expansion of health plan partnerships with Anthem Blue Cross and Blue Shield and Oklahoma Complete Health. Together, these milestones reflect growing payer and family demand for Positive Development’s developmental relationship-based therapy model and its lower intensity, lower cost approach to autism care.

“With this new facility, we are strengthening our balance sheet and giving ourselves the flexibility to scale our model in a thoughtful, sustainable way,” said Mike Suiters, Co-founder and CEO of Positive Development. “Our goal is to make high-quality developmental therapy accessible to families in every state, regardless of payer. SVB has been a long-standing partner of ours, and we’re excited to deepen that relationship alongside Pinegrove as we enter our next phase of growth.”

The lenders emphasized their confidence in Positive Development’s leadership team, clinical model and long-term opportunity to improve access to care.

“Positive Development is expanding access to high-quality autism therapy and diagnostics that is delivering meaningful outcomes for children and families,” said Megan Scheffel, Head of Life Science and Healthcare of SVB. “SVB is excited to continue our relationship with Positive Development by providing this facility to help them grow and scale their business.”

Positive Development is committed to maintaining its high-quality care delivery as it scales operations, with a long-term vision of ensuring that developmental therapy is accessible to all families nationwide through both commercial insurance and Medicaid.

To learn more about Positive Development’s developmental therapy model and nationwide expansion, please visit www.positivedevelopment.com or follow company updates on:

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About Positive Development

Since 2020, Positive Development has been on a mission to deliver developmental therapy to as many autistic children and families as possible. Positive Development’s team represents dedicated parents, devoted family members, impassioned self-advocates and pioneering clinicians. Together, they have observed the transformative power of high-quality Developmental Relationship-Based Interventions (DRBI) therapy firsthand – personally, professionally and scientifically. As the largest provider of developmental therapy in the country, Positive Development is committed to broadening access to this life-changing approach while establishing best practices in clinical support. The company’s dedication to outcomes measurement and evaluation benefits all families served.

About Silicon Valley Bank

Silicon Valley Bank (SVB), a division of First Citizens Bank, is the bank of some of the world’s most innovative companies and investors. SVB provides commercial banking to companies in the technology, life science and healthcare, private equity and venture capital industries. SVB operates in centers of innovation throughout the United States, serving the unique needs of its dynamic clients with deep sector expertise, insights and connections. SVB’s parent company, First Citizens BancShares, Inc. (NASDAQ: FCNCA), is a top 20 U.S. financial institution with more than $200 billion in assets. First Citizens Bank, Member FDIC. Learn more at svb.com

About Pinegrove Venture Partners

Pinegrove Venture Partners operates as a powerful venture investment platform that provides solutions to meet the unique needs of fund managers, founders, and limited partners in the innovation economy.

For 25 years, Pinegrove has been a premier investment and strategic partner for institutional investors seeking access to leading opportunities in the venture ecosystem. With the support and sponsorship of Brookfield and HRTG Partners and combined assets under management of greater than $10 billion, Pinegrove deploys capital across a complementary suite of offerings spanning venture capital fund of funds, venture debt, secondaries, and co-investments.

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Positive Development

Suzy Smith

PR Director

suzy.smith@positivedevelopment.com

Source: Positive Development