In brief: ADS taps Bill Mixon as CEO, Coloplast buys Kerecis

CARLSBAD, Calif. - Advanced Diabetes Supply has appointed Bill Mixon, who previously led National Seating & Mobility, as its CEO. 

The announcement follows the transition of the company’s co-founders and co-CEOs, Mark Howard and Tim Cady, to strategic advisory roles as members of the board of directors. 

“Bill has provided valuable insight and support to the ADS leadership team as a board member for the last two years,” said Jeffrey Abramoff, a partner at Court Square, which owns ADS and which owned NSM before selling the company in 2019. “His knowledge and extensive experience leading growing companies and creating structures and processes to support long term growth strongly position Bill to lead ADS in this exciting next chapter. Mark and Tim have built an exceptional company over the past 21 years, and we are pleased that they will continue to provide input as strategic advisors and board members. The strong growth that ADS has achieved is another success story for Court Square’s approach to partnering with founder, family and management-owned businesses.” 

Founded in 2002 by Howard and Cady, ADS is a national distributor of specialty diabetes supplies. In 2021, it expanded with the acquisition of US MED (United States Medical Supply).  

Mixon helped to grow NSM to 200 locations across the U.S. and Canada. Previously, he spent 20 years leading several multi-site health care services and BPO businesses, including Philips Medical Systems (PHG) Technical Field Services and Agiliti’s (AGTI) Medical Equipment Management business.    

“Mark and Tim dedicated themselves to not only building ADS, but also helping to shape the future of diabetes management and care, and as a result ADS is well positioned for future growth,” Mixon said. “I’m excited to be a part of the team and privileged to be stepping into a leadership role at this dynamic and growing company. I am also excited to partner with Court Square again after we accomplished a lot together at NSM.” 

ADS has also named Bart Witteveen as CFO. He brings more than 13 years of experience at multiple private equity backed companies in health care and other industries, including NSM, where he was CFO from 2016-21. Previously, he was CFO of GetWellNetwork and Matrix Medical Network. 

Coloplast expands into biologics wound care segment 

MINNEAPOLIS – Coloplast has signed an agreement to buy Kerecis, a biotech company based in Iceland that is pioneering the use of fish skin in the regenerative medicine market, for up to $1.3 billion. 

Coloplast will pay $1.2 billion upfront on a cash and debt-free basis and will pay up to a $100 million earnout dependent on financial performance in fiscal year 2023-24. 

“The advanced wound care market holds significant untapped potential, and today Coloplast is only present in the advanced dressings segment and mostly outside of the U.S.,” said Kristian Villumsen, president & CEO of Coloplast. “Chronic, surgical, burn, and other hard-to-heal wounds are a major area of unmet clinical need and a growing social and economic challenge. With the acquisition of Kerecis, we obtain a differentiated product offering and strong commercial U.S. infrastructure, allowing us to expand into the fast-growing biologics wound care segment and at the same time expand our position in the U.S. We believe that Kerecis is an emerging category leader, well positioned to continue outgrowing the market over the long-term. I am excited to welcome Kerecis into the family and together build a truly global wound care franchise with a unique offering, to the benefit of the many patients in need of wound treatment.” 

Kerecis, which has an office in Arlington, Va., launched its product in 2016 and has since become, according to a press release, the fastest-growing company in the biologics wound care segment, earning DKK 510 million in revenues and reaching break even in fiscal year 2021-22. The company is expected to grow about 50% in fiscal year 2022-23. 

Following the acquisition, Kerecis will operate as a standalone business unit with its own identity and brand, with integration focused on business support and other selected areas to support its growth and continued expansion. 

The total advanced wound care market is estimated at around DKK 55 billion, of which up to DKK 26 billion is in the advanced dressings segment, around DKK 15 billion in the biologics segment, and around DKK 13 billion in the external devices segment, according to the release. 

Numotion honored for disability inclusion 

BRENTWOOD, Tenn. - Numotion has been named a Best Place to Work for Disability Inclusion for the third consecutive year after receiving a score of 100 on the 2023 Disability Equality Index (DEI), the company has announced. “Numotion is proud to be recognized for measures we have taken to create an inclusive environment for employees of all abilities,” said Mike Swinford, Numotion CEO. “This is a sustained effort that we will continue to champion and support, cultivating a workplace where every employee, of any ability, is fully respected and able to thrive in their professional growth.” DEI, a joint initiative of the American Association of People with Disabilities (AAPD) and Disability:IN, is a comprehensive disability inclusion assessment tool that allows leading businesses to self-report their disability practices and policies. This year’s assessment measured: Culture & Leadership; Enterprise-Wide Access; Employment Practices (Benefits, Recruitment, Employment, Education, Retention & Advancement, Accommodations); Community Engagement; Supplier Diversity; Non-U.S. Operations (Non-Weighted). Numotion’s measures include, among other things, a Diversity and Inclusion Council that meets frequently to discuss strategic pillars and metrics that will yield the most diverse and inclusive company possible. 

People struggle to access incontinence products, according to new survey 

ASHEVILLE, N.C. - Seventy percent of respondents continuously struggle to afford necessary incontinence products due to rising costs and inaccessibility, according to a new survey from Aeroflow Urology. “We discovered the distressing effects living without access to bladder and bowel care products can have on people’s lives,” the company stated. “And it isn’t just children and parents who are affected – individuals with disabilities, adults and seniors with incontinence are all living in incontinence product need.” The results are based on a survey of more than 1,000 participants, according to Aeroflow. Other results include: Nearly 50% of respondents limit their food and fluid intake because they can’t afford to use another incontinence product; and 33% have experienced severe health complications like UTIs, skin irritation or worsened symptoms because they did not have enough products. Aeroflow recently supported Florida’s decision to permanently exempt breast pumps, diapers and senior incontinence supplies from the state sales tax in an effort to increase access. 

Wheelchair users push priorities during Roll on Capitol Hill 

WASHINGTON – About 100 wheelchair users from across the country gathered in Washington, D.C., recently for the United Spinal Association’s 11th Roll on Capitol Hill. They led more than 160 office visits with legislators and their staff to discuss three policy priorities: improve air travel protections, wheelchair coverage and accessible ground transportation. “I always say that this ‘isn’t my thing,’” said wheelchair user Meg Hammond, who represented Ohio. “I’m super uncomfortable when speaking about myself and expressing any needs I have (let alone legislation needs). However, it’s taught me just how important my voice can be. My voice matters. And when individual voices come together to express the same needs, the stories can be deafening, and that’s when the change happens.” The sponsors for the event included the National Mobility Equipment Dealers Association (NMEDA), Permobil, Hollister, Coloplast, NCART, BraunAbility, MK Battery, Numotion and Quantum Rehab. 

Essentia expands access to DME 

DULUTH, Minn. – Essentia Health pharmacies in Minnesota and Wisconsin, except for its newest pharmacy in Deerwood, Minn., are now accredited by The Joint Commission to bill Medicare Part B for DME. “This means patients will now have better access to diabetic supplies, nebulizer solutions and insulin that is used with a pump, as well as certain medications for transplants, oral chemotherapy and supportive care for cancer treatment,” the company states in a press release. Essentia Health is an integrated health system serving patients in Minnesota, Wisconsin and North Dakota. It comprises 14 hospitals, 78 clinics, six long-term care facilities, six assisted living facilities and independent living facilities, six ambulance services, 24 retail pharmacies and one research institute. 

Soleo Health scales to meet demand for approved Alzheimer’s drug 

FRISCO, Texas – Soleo Health says it’s prepared to address anticipated increases in demand for LEQEMBI on the heels of the U.S. Food and Drug Administration giving the Alzheimer’s drug full approval on July 7. Earlier this year, Soleo Health was selected by Eisai as the specialty pharmacy distribution partner for LEQEMBI. At the time, the drug had only received fast-track approval from the FDA. “LEQEMBI represents an important advancement in the ongoing fight to treat Alzheimer’s Disease,” said Drew Walk, CEO of Soleo Health. “We are already administering LEQEMBI to patients nationwide and have received significant interest from many more, as well as the Alzheimer’s community. We expect interest to dramatically increase with the full FDA approval and have scaled our national clinical network and operations to meet impending demand.” Soleo Health will provide treatment to patients prescribed LEQEMBI at any of its 35-plus ambulatory infusion centers (AICs) nationwide or in their homes. The company will support patients through its Alzheimer’s Disease Therapeutic Care Management Center (TCMC), staffed with specially trained interdisciplinary teams comprised of highly experienced therapy-care pharmacists, registered nurses, reimbursement specialists and patient care ambassadors.