Waud Capital Partners, a middle-market private equity firm, has announced an executive partnership with Bill Mixon, a veteran leader within the home medical equipment (HME) segment.
Together, Waud Capital and Mixon will “pursue a platform investment in the medical device and supply chain services market,” Waud Capital said in a July 17 announcement. “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.”
The company added that it expects to invest more than $100 million of equity capital on this new project.
Mixon is well known in the health-care industry, particularly in segments that focus on supporting patients in their homes. Most recently, Mixon was the CEO of Advanced Diabetes Supply Group (ADSG), which was acquired by Cardinal Health in November 2024. That transaction was completed in April, and Mixon departed ADSG in mid July.
Prior to ADSG, Mixon served for nine years as CEO of National Seating & Mobility, a Complex Rehab Technology provider with locations across the United States and in Canada.
Mixon has also held leadership positions at Baxter, Philips, and Agiliti Health.
“During his time at Advanced Diabetes Supply, Mr. Mixon drove transformational growth 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,” the announcement said. “At time of sale to Cardinal Health, Advanced Diabetes Supply had grown to $1 billion in revenue and served nearly a half-million patients annually.”
“We are thrilled to partner with Bill,” said Mike Lehman, principal, 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.”
“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,” Mixon added. “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.”
To date, Waud Capital’s health-care investments have included Mopec Group, a supplier of pathology technology, consumables and services; DS Medical, a home medical supplies provider; and PromptCare, a provider of home infusion and durable medical equipment.
