Waud Capital Partners Announces Executive Partnership

CHICAGO—Waud Capital Partners, a middle-market private equity firm, announced that it has formalized an executive partnership with Bill Mixon to pursue a platform investment in the medical device and supply chain services market. Targeted sub-sectors of focus will include but are not limited to home distribution, other value-add specialty distribution, outsourced provider equipment services and chronic care and population health management offerings that deliver value to supply chain channel partners. Waud Capital said it anticipates investing over $100 million of equity capital to support the initiative.

Mixon is a health care executive with more than 30 years of operating experience across the medical device and supply chain services industry, with particular emphasis on specialty distribution and outsourced provider equipment services. 

Most recently, Mixon served as CEO of Advanced Diabetes Supply, where he led the organization through a successful sale from its private equity sponsor to Cardinal Health. Advanced Diabetes Supply is a national diabetes care management platform distributing therapies including continuous glucose monitors and other diabetes-related supplies. During his time at Advanced Diabetes Supply, Mixon grew the company by professionalizing the organization through salesforce productivity enhancements, executing a shift in go-to-market initiatives and delivering margin improvements through revenue cycle initiatives and other operational efficiencies. 

Prior to Advanced Diabetes Supply, Mixon was the CEO of National Seating & Mobility, a provider of mobility solutions to patients in the home. Mixon began his career with the United States Army before holding leadership positions at large organizations such as Baxter, Phillips and Agiliti Health.

“I’m excited to partner with Waud Capital to identify and help build what we hope will be an industry-leading business that supports and improves the overall health care supply chain,” said Mixon. “Waud Capital’s executive partnership approach, dedicated ecosystem resources and deep investing experience across relevant areas make the firm a highly attractive partner. I believe this combination will enable us to capitalize on transformative growth opportunities, and I look forward to leveraging my past experiences to drive clinical value for medical professionals, manufacturers, payers and most importantly, patients.”

“We are thrilled to partner with Bill,” said Mike Lehman, principal at Waud Capital. “He is an exceptional executive who has created value and driven multiple successful outcomes throughout his career in a sector we find highly attractive. The health care supply chain markets are highly fragmented with significant opportunities for organizations to deliver value-add solutions and address substantial challenges for key stakeholders.”

Waud Capital said this executive partnership builds upon the company’s extensive experience investing across the broader health care supply chain services and homecare markets. Notable investments include Mopec Group (supplier of pathology equipment, consumables and services), PromptCare (home infusion and durable medical equipment), Provider Network Holdings (specialty medication supply management), DS Medical (home medical supplies) and recent homecare investments AltoCare (in-home senior care) and Concierge Home Care (skilled home health care).

“The partnership with Bill is another example of Waud Capital’s executive-first campaign approach and commitment to support accomplished executive leaders with the full ecosystem of resources to execute transformative growth strategies in large, growing markets,” said Kyle Lattner, Partner at Waud Capital. “This is our second dedicated campaign in the medical device and supply chain services market in the last two years and we are thrilled about the prospects of what we can accomplish during our partnership with Bill.”