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KKR, CVC, MidEuropa target hospitals; Waud launches medical supply chain platform

Morning Hubsters,

Happy Fri-yay! John R Fischer, here, with the US Wire in the New York newsroom.

First up, continuous M&A opportunities and increasing care demands are among the reasons why firms like KKR, CVC Capital and MidEuropa are still betting on the hospital sector. I’ve got a 5-deal listicle that goes into these and what the many other attraction points are for PE.

Then, let’s end with Friday Focus, where we shine the spotlight on a recently announced partnership between Waud Capital Partners and healthcare executive Bill Mixon to build a new platform focused on the medical device and supply chain services market.

Take your medicine
Recurring revenue, predictable cashflow, vertical integration and roll-up opportunities keep drawing PE investments into the hospital sector. Starting with the most recent, PE Hub rounded up five deals from July and the first half of 2025 that exemplify PE’s consistent appetite for hospitals assets.

Premium subscribers of the Wire can read the full list of deals.  

Friday Focus

The opportunity to consolidate smaller players and achieve economies of scale is one of several points drawing PE to the medical devices and healthcare supply chain services market.

One firm pursuing investments in this market is Waud Capital Partners, which announced earlier this week its partnership with healthcare executive Bill Mixon to build a platform investment focused on the medical device and supply chain services market.

Earlier this year, Waud acquired MedTec Healthcare, via its portco and new home care holding company Altocare. Prior to this, the firm also acquired Mopec Group from Blackford Capital.

Most recently, Mixon served as the chief executive officer of Advanced Diabetes Supply Group, which Court Square Capital Partners sold for approximately $1.1 billion in cash of Cardinal Health in November. Prior to this role, he was CEO of National Seating & Mobility, which Cinven is preparing to sell, sources told PE Hub last year.

Upgrade to the premium version of the Wire to learn more about Waud’s new platform.

Well, that’s it for me. As always, if you have any questions, comments, or want to chat, please email me at [email protected].

Craig McGlashan will be on Europe duty on Monday, while MK Flynn will bring you the US Wire.

Cheers,

John

Read the full Wire commentary on PE Hub ...

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Deals

They said it

“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.”

— Mike Lehman, principal, Waud Capital, on fragmentation in the healthcare supply chain market.

Today's letter was prepared by John R Fischer

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