Medline aiming to raise $5.37 billion in biggest US IPO this year

Investing.com -- Healthcare manufacturing giant Medline has filed for a 179,000,000 share IPO on the Nasdaq Global Select Market, with a price range of $26-$30 per share, potentially raising up to $5.37 billion in what would be the largest US initial public offering of 2025.

The company plans to list on Nasdaq under the ticker symbol MDLN, with Goldman Sachs and Morgan Stanley serving as lead bookrunners for the offering.

Cornerstone Investors have indicated interest in purchasing up to $2.35 billion in shares of Class A common stock, though these commitments are several and not joint. Additionally, members of the Mills family and their affiliates have expressed interest in purchasing up to $250 million in shares, which would be subject to a lock-up agreement with the underwriters.

Medline Industries, LP is headquartered in Northfield, Illinois. The company was acquired in June 2021 by a consortium of private equity firms including Blackstone, Carlyle, and Hellman & Friedman in a deal that valued the company at $34 billion, marking one of the largest leveraged buyouts in history.

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