Medline Industries is considering an initial public offering that could fetch a valuation of $50 billion for the medical supplies company, Bloomberg News reported on Tuesday.
The report said the company and its private equity owners are already in early-stage talks with banks regarding a potential listing as soon as the spring of 2025, citing people familiar with the matter.
Medline did not immediately respond to a Reuters request for comment.
After two sub-par years fueled by high interest rates, the U.S. IPO market has shown signs of a rebound in 2024.
However, investor reception has been mixed toward new offerings. Shares of healthcare payments company Waystar (NASDAQ: WAY), which debuted on Nasdaq last month, are trading above their IPO price while shares of Chinese electric-vehicle maker have slipped below their offer price.
Blackstone (NYSE: BX), Carlyle Group (NASDAQ: CG), and Hellman & Friedman agreed to buy a majority stake in Medline in 2021, valuing the company at $30 billion excluding debt.
Blackstone and Carlyle did not immediately respond to Reuters requests for comment, while Hellman declined to comment.
Northfield, Illinois-based Medline is one of the largest privately held manufacturers and distributors of medical supplies such as surgical equipment, gloves, and laboratory devices used by hospitals worldwide.
(Source: Reuters)
Jennifer Tacker is a staff writer at ABBO News. She holds a B.A. from the University of Waterloo and a B.Ed from Western University. Jennifer has been active in the stock market and crypto sector for a decade. She specializes in technical analysis and trading strategies.
