Waud Capital Partners teams up with accomplished industry executive to acquire and build a healthcare supply chain solutions company
Waud Capital Partners, a growth-oriented 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 anticipates investing over $100 million of equity capital to support the initiative.
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Mr. Mixon is an accomplished healthcare executive with more than 30 years of operating experience across the medical device and supply chain services continuum, with particular emphasis on specialty distribution and outsourced provider equipment services. He brings deep operational expertise with an extensive focus on enhancing clinical value and improving patient outcomes through the medical supply chain. Mr. Mixon has successfully scaled several private equity-backed and publicly traded organizations through repeatable organic growth strategies as well as strategic acquisitions.
Most recently, Mr. Mixon served as Chief Executive Officer 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 innovative therapies including continuous glucose monitors and other diabetes-related supplies. 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. At time of sale to Cardinal Health, Advanced Diabetes Supply had grown to $1B in revenue and served nearly a half-million patients annually. Prior to Advanced Diabetes Supply, Mr. Mixon was the Chief Executive Officer of National Seating & Mobility, a provider of comprehensive mobility solutions to patients in the home. Under Mr. Mixon’s leadership at National Seating & Mobility, the organization scaled through organic and inorganic methods and successfully transacted on several different occasions to multiple private equity sponsors. Mr. Mixon began his career with the U.S. Army before holding leadership positions at large organizations such as Baxter, Phillips, and Agiliti Health.
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“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 healthcare supply chain,” said Mr. 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, payors 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 healthcare supply chain markets are highly fragmented with significant opportunities for organizations to deliver value-add solutions and address substantial challenges for key stakeholders.”
This executive partnership builds upon Waud Capital’s extensive experience investing across the broader healthcare supply chain services and home care 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 home care investments AltoCare (in-home senior care), and Concierge Home Care (skilled home healthcare).
“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.”
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Source- PR Newswire
