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Medline discloses higher profit, revenue in first half of

2025

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IPO could reportedly value healthcare giant at $50 billion

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PE-owned Medline could raise as much as $5 billion

(Adds details and context on IPO market and sector background

throughout)

Oct 28 (Reuters) - Medline disclosed on Tuesday that its

revenue rose 9.7% in the first half of 2025, as one of the

world's largest makers of medical supplies made its IPO filing

public ahead of its highly anticipated U.S. stock market debut.

An initial public offering could value the company at up to

$50 billion, Reuters has reported. The IPO prospectus comes as

the market makes a strong comeback after nearly three years of

sluggish activity.

Analysts and investors expect established companies with

proven revenues, earnings power and high-profile backers to lead

the recovery.

While the U.S. government shutdown has caused some

short-term delays, top Wall Street executives say the IPO

pipeline remains strong, with the stage set for a meaningful

pickup in activity in the coming quarters.

The Northfield, Illinois-based company is one of the

largest privately held manufacturers and distributors of medical

supplies, including surgical equipment, gloves and laboratory

devices used by hospitals worldwide.

Medline reported net sales of $13.53 billion in the first

half of 2025, compared with $12.34 billion a year earlier. Its

profit came in at $655 million for the same period, up from $587

million year over year.

Medline's IPO could also be a major win for its private

equity owners - Blackstone, Carlyle and Hellman &

Friedman - which together acquired it in a deal worth $34

billion in 2021.

MEDLINE EYES BLOCKBUSTER IPO

A titan of its industry, Medline's listing is expected to be

one of the standout IPOs of the year and a major win for its

private-equity owners. Its success could also encourage more

companies to push ahead with their IPOs, analysts have said.

While it did not disclose the size or proposed price range

for its offering, Reuters previously reported, citing sources,

that the company could aim to raise $5 billion.

The company was founded in 1966 by brothers James and Jon

Mills. It traces its roots to a garment manufacturer, which

initially made butcher's aprons for the meatpacking industry

starting in 1910.

In the years that followed, its predecessor began sewing

surgeons' gowns and uniforms at the request of nuns from Mercy

Hospital in Chicago.

The company went public in 1972, before being taken private

again by the Mills brothers.

Goldman Sachs, Morgan Stanley, BofA Securities and J.P.

Morgan are acting as lead bookrunning managers for the offering.

Medline said it was aiming to list on the Nasdaq and trade

under the "MDLN" ticker symbol.