To List on Nasdaq
The lead bookrunning managers for the proposed offering are Goldman Sachs, Morgan Stanley, Bank of America Securities, and JPMorgan. The company expects proceeds of around $4.90 billion from the offering, net of underwriting discounts and commissions. It plans to use the proceeds to acquire an equivalent number of newly issued units from Medline Holdings, which will use the amount primarily to repay outstanding debt. The remainder of the proceeds will be used for general corporate purposes.
Key Metrics
For the nine months ended September 2025, Medline reported net sales of $20.6 billion, compared to $18.7 billion in the comparable period of 2024. The positive top-line performance translated into a 7.2% increase in net income to $977 million from $911 million in last year’s nine-month period. Net cash, cash equivalents, and restricted cash provided by operating activities were $1.52 billion.
In a joint statement, Charles Mills, Andrew Mills, and James Abrams, Medline’s former chief executive officer, president, and chief operating officer, respectively, said, “Medline is dedicated to making healthcare run better and more affordably. Our consistent growth has been fuelled by our belief in doing the right thing and focusing on the long-term health of our customers, colleagues, and shareholders. We are proud to see our products providing care in hospitals, surgery centers, labs, long-term care facilities, and doctors’ offices across America and around the world.”
The Company
Medline is a leading medical-surgical manufacturer and distributor, offering a broad portfolio of products globally across all points of care. Founded in 1966 by Jim and Jon Mills, the company is currently led by chief executive officer James Boyle. As of December 2024, the company had more than 43,000 employees worldwide, with over 24,000 locations in the US.