In brief: Waud Capital’s new partner, CMS’s warning to states, MedPAC’s spending analysis
By HME News Staff
Updated 9:23 AM CDT, Wed July 23, 2025
CHICAGO – Private equity firm Waud Capital has announced a strategic executive partnership with Bill Mixon, former CEO of Advanced Diabetes Supply (ADS), to acquire a platform investment in the medical device and health care supply chain services market.
The firm plans to invest over $100 million in equity capital to support this initiative, targeting high-growth opportunities in the fragmented health care supply chain sector.
“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.”
Focus areas in health care supply chain investment
Waud Capital will focus on several high-potential subsectors, including:
- Home distribution services
- Value-add specialty distribution
- Outsourced provider equipment services
- Chronic care and population health management solutions
These areas are expected to deliver significant value to supply chain channel partners and address key challenges in healthcare logistics and delivery, the firm says.
Building on Waud Capital’s health care investment experience
This executive partnership builds on Waud Capital’s extensive experience in health care 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
- AltoCare – In-home senior care
- 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.”
Bill Mixon’s track record in health care leadership
Bill Mixon previously led ADS through a successful sale to Cardinal Health, growing the company to $1 billion in revenue and serving nearly 500,000 patients annually. Prior to ADS, Mixon was CEO of National Seating & Mobility.
Waud Capital also previously partnered with Steve Jakubcanin to pursue a platform investment in the home care and post-acute services market, reinforcing its commitment to executive-led growth strategies.
Dexcom recalls certain receivers due to speaker malfunction
SAN DIEGO – Dexcom is recalling certain Dexcom G6, G7, ONE, and ONE+ glucose monitoring receivers because of a problem with the speaker that may cause it to fail to make an alert sound when blood sugar is dangerously low or high.
The use of affected products may cause serious adverse health consequences, including seizures, vomiting, loss of consciousness and death, according to the U.S. Food and Drug Administration.
There have been at least 56 reported injuries. There have been no reports of death, the FDA says.
Dexcom sent all affected customers a letter on June 9 recommending that they:
- Visit dexcom.com/checkreceiverExternal Link Disclaimer to see if their receiver is affected.
- If so, contact Dexcom Technical Support at 1-844-478-1600 to request a free replacement.
- Whether or not their receiver is affected, test their receiver’s speaker every time they charge it. They can also re-test the sound at any time using the device menu. If the speaker does not beep when they test it, contact Dexcom right away. If the speaker beeps, be mindful that it may still fail without warning in the future.
- Make sure everyone who relies on the receiver for alerts knows about this possible problem.
For a full list of affected products, go here.
Philips CPAP recall: 20M CAD partial settlement proposed in Canadian class action
VANCOUVER, B.C., and TORONTO – A proposed partial settlement of 20 million CAD has been reached in the Canada-wide class actions against Philips Respironics, addressing economic loss claims related to the recall of certain CPAP, BiPAP and ventilator devices, according to Sotos Class Actions.
The lawsuits—Morel v. Koninklijke Philips N.V. et al. and Roy v. Respironics Inc. et al.—represent individuals, corporations, hospitals and partnerships across Canada who purchased or used affected devices included in the voluntary recall announced in June 2021.
Key details of the proposed settlement:
- Settlement fund: $20 million CAD to compensate for out-of-pocket expenses related to the recall.
- Compensation plan:
- Up to $125 per recalled device.
- 30% to 90% reimbursement of replacement costs (with receipts), minus legal and administrative fees.
- Estimated class size: More than 300,000 affected individuals and entities.
This partial settlement covers only economic losses. Personal injury claims remain active, and class members retain the right to pursue those separately.
The settlement is subject to court approval in British Columbia and Quebec. If approved, all class members who have not opted out will be bound by its terms.
Related U.S. settlement:
In a separate but related settlement, Philips Respironics agreed last year to pay $1.1 billion USD to resolve personal injury and medical monitoring claims in the United States. The company has not admitted any wrongdoing.
CMS notifies states of ‘commonsense guardrails’ to Medicaid & CHIP
WASHINGTON – CMS has sent letters to states calling out policies that extend beyond statutory limits in the Medicaid and Children’s Health Insurance Program (CHIP) programs, specifically policies on continuous eligibility and workforce initiatives.
The agency highlighted two policies that it says require large investments of federal funds, estimated at more than $1 billion:
- Expanded continuous eligibility allows some people to remain enrolled in Medicaid for a period of time, even if they are no longer qualified. As a result, states could be overpaying for coverage of individuals who would not normally be eligible for Medicaid or CHIP.
- Workforce initiatives were intended to strengthen and build the workforce serving Medicaid through primary care, behavioral health, dental and home and community based services (HCBS).
“For too long, Medicaid and CHIP have drifted away from their core mission of providing a safety net for the truly vulnerable—that ends now,” said CMS Administrator Dr. Mehmet Oz. “CMS is restoring commonsense guardrails to Medicaid and CHIP, which will ensure that Medicaid remains a lifeline for those who are eligible and in need of quality health care.”
CMS is notifying states that it does not anticipate approving new or extending existing section 1115 demonstration authorities that it says have allowed some individuals to remain enrolled in Medicaid or CHIP for extended periods of time, even if they may not have otherwise been eligible.
The agency continues: “In some cases, children could have remained continuously enrolled in Medicaid or CHIP for up to six years, even if a change in their circumstances would have otherwise made them ineligible at some point. In other cases, CMS has approved up to 24 months of continuous eligibility for adults or targeted adult subpopulations. When this is allowed in many states over time, this practice can affect millions of enrollees and could lead to unsustainable expenditures.”
Additionally, CMS is notifying states that it does not anticipate approving new or extending existing Medicaid-funded workforce initiatives—programs that use Medicaid dollars to fund certain job training or employment-related activities—which to date have involved more than $1 billion in federal commitments across California, Massachusetts, New York, North Carolina and Vermont. The agency says it will allow currently approved initiatives to run out their course but does not anticipate extending them nor approving new waivers. Going forward, it says it is focused on supporting actions that demonstrate clear health benefits, cost savings and strong accountability for federal spending.
For more information, visit:
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Continuous eligibility: https://www.medicaid.gov/resources-for-states/downloads/contin-elig-ltr-to-states.pdf
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Workforce initiatives: https://www.medicaid.gov/resources-for-states/downloads/workforc-ltr-to-states.pdf
CMS investigates double enrollments in Medicaid, CHIP
WASHINGTON – CMS says a recent analysis of 2024 enrollment data identified 2.8 million Americans who are either enrolled in Medicaid or the Children’s Health Insurance Program (CHIP) in multiple states or simultaneously enrolled in both Medicare/CHIP and a subsidized Affordable Care Act (ACA) Exchange plan.
The agency says it is taking action to ensure individuals are only enrolled in one program, potentially saving taxpayers about $14 billion annually.
"HHS staff uncovered millions of Americans who were illegally or improperly enrolled in Medicaid and ACA plans," said U.S. Health and Human Services Secretary Robert F. Kennedy, Jr. "Under the Trump Administration, we will no longer tolerate waste, fraud, and abuse at the expense of our most vulnerable citizens. With the passage of the One Big Beautiful Bill, we now have the tools to strengthen these vital programs for generations to come."
CMS says over the past several months, software engineers collaborated with the agency to examine historical program enrollment data and found that in 2024 an average of 1.2 million Americans each month were enrolled in Medicaid/CHIP in two or more states and an average of 1.6 million Americans each month were enrolled in both Medicaid/CHIP and a subsidized Exchange plan.
The agency says it will partner with states to reduce duplicate enrollment through three initiatives:
- CMS will provide states with a list of individuals who are enrolled in Medicaid or CHIP in two or more states and ask states to recheck Medicaid or CHIP eligibility for these individuals. CMS will work with states to prevent individuals from losing coverage inappropriately.
- CMS notified individuals enrolled in both Medicaid or CHIP and an FFE plan with a subsidy. These individuals are asked to take one of the following actions:
- Disenroll from Medicaid or CHIP, if no longer eligible;
- End their subsidy (with the option to end their coverage); or
- Notify the Exchange that the data match is incorrect and submit supporting documentation to show they are not enrolled in both Medicaid/CHIP and subsidized Exchange coverage.
- CMS will provide SBEs with a list of individuals who are potentially enrolled in the state’s Medicaid or CHIP and a subsidized Exchange plan and ask SBEs to determine whether these individuals are dually enrolled, and if so, to implement a process, similar to the federal Exchange, to recheck eligibility. CMS will work with states to prevent individuals from losing coverage inappropriately.
Federal regulations require Exchanges to periodically examine data for dual enrollments in Medicaid to guard against improper enrollments in subsidized Exchange plans through a process called Medicaid Periodic Data Matching (PDM). These examinations were paused under the Biden Administration to ensure that continuous coverage was maintained during the PHE, in alignment with the statutory requirement on states to maintain continuous enrollment in Medicaid or CHIP throughout the COVID public health emergency. These essential examinations have been strengthened under the first Trump Administration and increased to at least twice a year.
“The Biden administration struggled to ensure that individuals were only enrolled in the single Medicaid or Exchange plan for which they were eligible – that ends today,” said CMS Administrator Dr. Mehmet Oz. “CMS is restarting these important checks to follow federal law. We are going to work with states to identify individuals enrolled in multiple programs and fix the duplicate enrollment problem to save taxpayers billions of dollars, while minimizing inappropriate coverage loss. This is exactly why we fought for stronger tools in the One Big Beautiful Bill Act—to go after this type of waste and finally put a stop to paying twice for the same person’s health coverage.”
MedPAC details health care spending
WASHINGTON – The Medicare Payment Advisory Commission (MedPAC) has released its 2025 data book on health care spending and the Medicare program.
The data book includes Medicare’s share of national spending on personal health care varied by type of service for 2023, including durable medical equipment (DME). Medicare’s share of spending on DME was 21%, while Medicaid and CHIP were 30% and other was 64%. Other includes private health insurance, out-of-pocket spending, and other private and public spending.
The 216-page report also dives into:
- Medicare beneficiary demographics
- Medicare beneficiary and other payer financial liability
- Dually eligible beneficiaries
- Alternative payment models
- Acute inpatient services, including general acute care hospitals
- Ambulatory care
- Post-acute care (skilled-nursing facilities, home health services, inpatient rehab facilities and long-term care hospitals)
- Medicare Advantage
- Prescription drugs
- Other services (dialysis, hospice and clinical laboratory)
For Medicare Advantage, MedPAC says enrollment in these plans increased to 34.4 million beneficiaries in 2025, representing 55% of the Medicare population. Medicare payments to these plans were $494 billion in 2024.
Orthotics bill re-introduced
WASHINGTON – Reps. Glenn Thompson, R-Pa., Mike Thompson, D-Calif., Gus Bilirakis, R-Fla., and Debbie Dingal, D-Mich., as well as Sens. Steve Daines, R-Mont., and Mark Warner, D-Va., have reintroduced a bill that would prohibit drop shipping for orthoses that are not off the shelf.
The Medicare Orthotics and Prosthetics Patient-Centered Care Act has support from 47 organizations, including the American Orthotic and Prosthetic Association (AOPA) and the National Association for the Advancement of Orthotics and Prosthetics (NAAOP), which will host a congressional fly-in the week of July 21.
“After nearly three decades working as a therapist, rehab services manager, and licensed nursing home administrator, I’ve witnessed the challenges people face when they need orthotics or prosthetics,” Glenn Thompson said. “This bipartisan bill recognizes that access to medically necessary, high-quality, orthotic and prosthetic care is essential to a patient’s mobility and overall quality of life.”
The bill defines drop ship as the direct shipment of an item to an individual who has not received training or education from a qualified practitioner on the fitting and adjustment, care and use of the item.
The bill would also exempt practitioners from requiring a competitive bidding contract to provide off-the-shelf orthoses and remove “reasonable useful lifetime” restrictions for custom-fitted and custom-fabricated orthoses.
“For years, AOPA and its more than 1,500 members—comprising both the facilities that care for individuals with limb loss and limb difference and the manufacturers of orthotic and prosthetic (O&P) devices—have advocated for policies that protect access to high-quality clinical care,” said Teri Kuffel, JD, executive director of AOPA. “This legislation does exactly that. It not only safeguards patients’ access to medically necessary O&P care but also addresses fraudulent practices that place unnecessary costs on the Medicare system. If passed, this bill has the potential to transform the lives of millions of Americans. We are deeply grateful for the Representatives’ continued leadership and their commitment to advancing the O&P profession and the patients it serves.”
NCART sets date for CRT Awareness Week
WASHINGTON – NCART has announced that CRT Awareness Week will kick off on Aug. 18. The organization says it will send out more details in the next few weeks. “We need to have everyone – consumers, manufacturers, suppliers, caregivers, clinicians and advocacy groups – participate and get the word out about CRT and the importance for regulators and insurance companies to understand how crucial access to proper equipment and services is for consumers who utilize CRT.” NCART, as well as iNRRTS and U.S. Rehab, plan to host the 2025 Congressional Fly-in on Sept. 16-17. Talking points during the event will likely include getting CMS to advance coverage for power standing devices and getting Congress to advance a bill that would improve access to high-tech ultralightweight manual wheelchairs.
Drive DeVilbiss initiates recall on car adapter
WASHINGTON – Drive DeVilbiss Healthcare is recalling the iGo2 DV6X-619 DC car adapter, a non-critical accessory to the iGo2 Portable Oxygen Concentrator (POC), due to complaints of the DC power cord being hot to the touch and/or melting while being used, according to the U.S. Food and Drug Administration. The iGo2 POC is a DC-powered, variable motor/compressor speed oxygen concentrator that can be operated from an AC, DC or battery power source. Use of the affected product may cause serious adverse health consequences, including thermal injuries and/or burns to the fingers and/or hands, the FDA says. There have been two reported injuries; there have been no reports of death, it says. Go here for an outline on what to do in response to the recall.
National Ramp debuts new headquarters
VALLEY COTTAGE, N.Y. - National Ramp is now fully operational from its new headquarters at 625 Corporate Way, Suite 100, Valley Cottage, N.Y. The new space is designed to support National Ramp’s rapid growth, boost its efficiency and better support its customer nationwide, the company says. “This move marks a major milestone in National Ramp’s journey,” the company stated in an email to customers. “With expanded warehouse space, upgraded offices and improved logistics, we’re setting the stage for even faster shipping, stronger collaboration and a better overall experience for you.” National Ramp boasts more than 1,000 local installers nationwide. The company makes residential and commercial ramps made in the USA.
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