Forbes: Medical Supply Giant Medline Considers $5 Billion IPO

Medical supply manufacturer Medline is reportedly exploring an initial public offering (IPO) that could generate approximately $5 billion, according to sources initially cited by Bloomberg News. The IPO is projected to occur as early as this fall. Medline, headquartered in Northfield, Illinois, is a leading global medical supply company with over $23 billion in annual sales. Founded in 1966, Medline was family-owned by the Mills family for over five decades, during which it achieved consistent double-digit percentage sales growth. In 2021, a consortium of private equity firms, including Blackstone, Carlyle, and Hellman & Friedman, acquired a majority stake in the company. Medline experienced significant revenue growth during the COVID-19 pandemic, exceeding $21 billion in 2021. That same year, the company secured over 230 new accounts with healthcare providers and health systems, representing nearly $2 billion in sales. Employing a global workforce of 43,000, Medline provides a diverse range of medical supplies, including masks, surgical gowns, sanitizing products, and biohazard bags. The company has reported sales growth for six consecutive decades.