Healthcare supply giant Medline announces IPO, valued at $50B

Chad Van Alstin | October 30, 2025 | Health Exec | Supply Chain

Medline Industries, the largest medical supply distributor in the U.S., has officially filed an initial public offering (IPO) to take the company public, ending 59 years of private ownership.

In a statement, Medline confirmed the Tuesday filing of Form S-1 with the Securities and Exchange Commission (SEC), which officially initiates the process. However, it was quick to note that there “can be no assurance as to whether or when the offering may be commenced or completed.”

Further, the number of shares, as well as their price, are not finalized—as those are largely determined by the overall market, as well as Medline’s established valuation at the time the IPO is given a date for launch.

According to reporters at Reuters, the healthcare supply chain powerhouse could be valued at upwards of $50 billion. Further, Medline disclosed that its revenue is up 9.7% in 2025 so far, signaling that it’s continuing to see more sales.

In 2022, its annual revenue was reported by Forbes to be $21.2 billion.

An expanding global footprint

Medline operates globally, servicing roughly 125 countries and territories, with over 325,000 medical and surgical products—including consumer home-health offerings, such as bandages and skincare lotions. It employs over 43,000 people all over the world, according to statistics on its website.

Founded in 1966 by brothers Jim and Jon Mills, members of the family remained in leadership roles at Medline until 2023.

In June 2021, Medline was purchased by a group of private equity firms, namely Blackstone, Carlyle and Hellman & Friedman. At the time, it was valued at $34 billion.

If and when its IPO registration is approved by the SEC, the company said it will list its stock on the Nasdaq Global Select Market, under the symbol "MDLN." Bringing in new investors is expected to generate $5 billion in funds.