Medline Industries has filed for an initial public offering that could value the medical supplies distributor above $50 billion, in what would be one of the largest healthcare listings in years.
The company is backed by a consortium of Blackstone, Carlyle Group, and Hellman & Friedman, which acquired Medline in a $34 billion leveraged buyout in 2021, at the time the largest private equity deal of that year.
Sponsor return
A listing at the targeted valuation would represent a strong markup for the sponsor consortium and would be closely watched as a bellwether for the broader private equity exit environment in healthcare.