Why a Medical Supplies Maker Could Have the Biggest U.S. IPO This Year

Medline is one of the largest privately held manufacturers and distributors of medical supplies. (Mohamed Ahmed Soliman | Dreamstime.com)

Key Points

About This Summary

• Medline’s potential IPO could raise up to $5 billion, making it the largest U.S. listing this year.
• The medical supplies maker, backed by Blackstone, Carlyle, and Hellman & Friedman, may file publicly by late October.
• Medline is a major private manufacturer and distributor of medical supplies, employing 40,000 globally.

Medline, a medical supplies maker, could raise more money than any other firm that has become publicly traded in the U.S. this year, as IPO mania has returned in full force.

A Bloomberg report late Wednesday said the IPO could raise as much as $5 billion, making it the biggest U.S. listing this year, according to people familiar with the matter. The public filing could come as soon as late October, setting it up to become publicly listed by the end of November, the people said.

The Northfield, Illinois-based company said in December it had confidentially filed for a listing in the U.S. of its common stock, but the price range for the offering was yet to be determined.

Medline counts Blackstone , Carlyle, and Hellman & Friedman as backers. The companies didn’t immediately respond to a Barron’s request for comment.

Medline is one of the largest privately held manufacturers and distributors of medical supplies such as exam tables, gloves, and gowns for healthcare professionals. It employs about 40,000 people globally and has 27 manufacturing facilities around the world, according to its website.

Optimism has returned to the IPO market this year with more than 150 private companies becoming publicly listed in the U.S. through a traditional offering, Barron’s has reported. Many firms had strong demand for their offerings, such as Circle internet Group , Figma , Bullish and Klarna , further boosting the IPO momentum.

A successful Medline market debut would suggest the IPO mania extends beyond the red-hot areas of cryptocurrencies and artificial-intelligence.

Write to Elsa Ohlen at elsa.ohlen@barrons.com