Medline Industries is the largest privately held manufacturer and distributor of medical supplies in the United States, and provides a wide range of solutions to healthcare providers across all care settings. The company was founded in 1966 by Jim and Jon Mills and has a long history in medical garment manufacturing and supply distribution.
With more than 335,000 products and operations in at least 100 countries, Medline serves hospitals, physicians' offices, and home health patients around the globe. Medline produces and distributes a vast portfolio of medical and surgical supplies, including wound care products, first aid supplies, compression bandages, medical devices, and home health care items.
The company also provides supply chain solutions, analytics, and educational resources to support healthcare providers. Here’s what investors need to know about how to invest in Medline Industries.
Is Medline publicly traded?
No, Medline Industries is currently a privately held company and is not publicly traded.
IPO
When will Medline IPO?
Medline Industries was previously public between 1972 and 1977, until it was taken private by its founders, the Mills family. In 2021, Medline was acquired by private equity firms Blackstone, Carlyle, and Hellman & Friedman in a $34 billion deal. The Mills family, which has led the company for generations, retained a significant stake.
Medline is now expected to launch an initial public offering (IPO) for the second time in its company history, very possibly in late 2025 or early 2026. The company confidentially filed for the offering in December 2024, though the timing is contingent on market conditions.
An IPO would provide capital for Medline to expand into new markets. Reports suggest the offering could raise around $5 billion and value the company at approximately $50 billion.
An IPO could also help Medline pay down the significant debt it incurred from the 2021 buyout. The large global population needing healthcare infrastructure makes Medline a potentially valuable investment in a growing market, although its industry remains highly competitive with multiple established players.
Key steps in investing in a stock
Medline hasn’t gone public yet, so you can’t buy shares of the stock right now. You would have to invest in a publicly traded competitor to gain exposure to the industry Medline operates in. Here’s what you need to know.
- -Step 1: Open your brokerage account: Log in to your brokerage account where you handle your investments.
- -Step 2: Search for the stock: Enter the ticker or company name into the search bar to bring up the stock's trading page.
- -Step 3: Decide how many shares to buy: Consider your investment goals and how much of your portfolio you want to allocate to this stock.
- -Step 4: Select order type: Choose between a market order to buy at the current price or a limit order to specify the maximum price you're willing to pay.
- -Step 5: Submit your order: Confirm the details and submit your buy order.
- -Step 6: Review your purchase: Check your portfolio to ensure your order was filled as expected and adjust your investment strategy accordingly.
Is Medline profitable?
Yes, Medline is reportedly profitable. While exact current figures aren’t available, given that the company is still private, both S&P Global (SPGI -0.84%) and Fitch Ratings have noted that Medline's strong revenue and improved profitability have led to substantial free cash flow growth recently.
Medline's success in securing new prime vendor contracts and growing existing accounts has seemingly been a key driver of revenue and earnings growth. As a private company with a diverse product portfolio and strong customer relationships in a fundamental sector, Medline has built a stable, resilient business model that could drive its future success in the event of a public market debut.
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The bottom line on Medline
As the largest private manufacturer and distributor of medical supplies in the U.S., Medline operates in a stable, high-demand industry. Its vertically integrated model, which combines both the manufacturing and distribution sides of the medical supplies business, is a key competitive advantage as well.
If Medline does go public in the near future, it could be an investment worth considering for long-term investors. For now, there are some compelling public competitors to consider.
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