Healthcare Executive Bill Mixon Joins Forces with Private Equity Veteran for Supply Chain Platform

Healthcare distribution executive Bill Mixon has formalized an executive partnership with Waud Capital Partners to build a medical device and supply chain services platform backed by over $100 million in equity capital. The collaboration pairs Mixon’s three decades of operational expertise with the private equity acumen of Reeve Waud, who founded the Chicago-based investment firm in 1993.

The partnership exemplifies Waud Capital Partners’ distinctive approach to healthcare investing, which emphasizes pairing proven industry executives with attractive consolidation opportunities. This model has generated substantial returns across multiple healthcare sectors under Reeve Waud’s leadership.

Bill Mixon’s Multi-Exit Healthcare Services Experience

Mixon brings a track record of building and scaling healthcare distribution businesses through multiple successful transactions. Most recently, he served as CEO of Advanced Diabetes Supply Group, which he helped grow to $1 billion in annual revenue while serving approximately 500,000 patients. That company was acquired by Cardinal Health for $1.1 billion in early 2025 (https://hme-business.com/cardinal-health-completes-advanced-diabetes-supply-group-acquisition/).

Prior to Advanced Diabetes Supply, Mixon led National Seating & Mobility as CEO, where he scaled the comprehensive mobility solutions provider through both organic expansion and targeted acquisitions. Under his leadership, the organization successfully completed transactions with multiple private equity sponsors, demonstrating his ability to work effectively with financial partners to drive growth and value creation.

His healthcare career began after military service in the U.S. Army and progressed through leadership positions at major healthcare organizations including Baxter, Phillips, and Agiliti Health. This progression provided Mixon with experience across multiple aspects of healthcare services and medical device distribution, from technical field services to comprehensive equipment management.

“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,” Mixon stated. He specifically cited Waud Capital Partners’ executive partnership approach and dedicated ecosystem resources as factors that make the firm an attractive collaborator.

Waud Capital’s Executive Partnership Model in Action

Reeve Waud’s approach to healthcare investing has consistently emphasized identifying exceptional executives and providing them with capital and operational support to build market-leading companies. This philosophy has driven successful investments across multiple healthcare sectors, from behavioral health to specialty medical services.

The firm’s partnership with Mixon follows established patterns that have characterized Reeve Waud’s most successful healthcare investments. When founding Acadia Healthcare in 2005, Reeve Waud similarly identified an experienced healthcare executive and provided the capital and guidance necessary to build a leading behavioral health platform. Today, as Chairman of Acadia Healthcare, he continues to provide oversight for that investment (https://www.acadiahealthcare.com/investors/board-directors/).

“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.”

This executive partnership model differentiates Waud Capital Partners from traditional private equity approaches that may rely more heavily on financial engineering. Instead, Reeve Waud has built the firm’s reputation on identifying operational leaders who can drive fundamental business improvements and market consolidation.

The approach has proven effective across Waud Capital Partners’ healthcare portfolio, which has included successful exits like GI Alliance, valued at approximately $2.2 billion upon its recapitalization in 2022. These successes reflect the value creation potential when experienced executives are paired with appropriate capital and operational resources.

The medical device and supply chain services opportunity represents an extension of this proven model. Reeve Waud and his team have identified a fragmented market with consolidation potential and partnered with an executive whose track record demonstrates the ability to scale healthcare distribution businesses successfully.

Since founding Waud Capital Partners, Reeve Waud has overseen more than 500 company acquisitions, building expertise in identifying and supporting executives capable of transforming fragmented markets into consolidated, valuable enterprises.

Learn More: Waud Capital unveils latest growth-oriented buyout fund, targets $1bn