Workers at Medline Industries assemble Personal Protection Equipment (PPE) kits to be shipped out to various health facilities at their warehouse in Mundelein, Illinois, U.S., on Monday, Oct. 20, 2014. The personal protection kits, which typically include a hooded body suit, face shield, boot covers, mask, gloves, Epi-clenz hand sanitizer and a biohazard bag, can be used for healthcare professionals that are treating patients with the Ebola virus. Photographer: Tim Boyle/Bloomberg
© 2014 Bloomberg Finance LP
Medline, one of the world’s leading manufacturers of personal protective equipment, is reportedly contemplating going public with an initial public offering possibly as early as this fall.
With annual sales exceeding $23 billion, Medline has a history of sustained double-digit percentage sales growth spanning over half a century under the ownership of the billionaire Mills family and its recent private equity investors. According to Bloomberg News, the potential IPO could raise approximately $5 billion.
In 2021, major private equity firms such as Blackstone, Carlyle, and Hellman & Friedman acquired a majority stake in Medline, a family-owned medical product manufacturer that experienced rapid growth by producing personal protective equipment during the Covid-19 pandemic. Medline’s revenue surpassed $21 billion in 2021, securing over 230 new healthcare provider and health system accounts valued at nearly $2 billion in sales amid the global pandemic crisis.
Established in 1966 and headquartered in Northfield, a suburb of northern Chicago, Medline boasts six decades of consecutive sales growth, a workforce of 43,000 employees worldwide, and annual sales exceeding $23 billion. The company’s product range includes masks, surgical gowns, drapes, sanitizing products, and biohazard bags.
