“Medline Industries, a medical supply company, is reportedly exploring a sale that could value the family-owned entity at $30B,” reported Seeking Alpha in a news article April 10, 2021. “Medline hired Goldman Sachs to a run the sales process, according to a report from the Wall Street Journal,” continued the article.
The article added that “the process is at an early stage and an IPO or a minority investment is another possibility. PE firms Blackstone KKR (NYSE:KKR) and Carlyle Group are among companies that are expected to explore bids, the WSJ said.”
“The possible deal is the latest sign of a renaissance under way for large leveraged buyouts, which largely disappeared in the wake of the financial crisis as firms eschewed pairing up and taking on the mountains of debt such deals require,” according to a market report from StockXpo April 10, 2021. The report continued that, “With risk tolerance rising broadly and private-equity investors sitting on mountains of unspent cash, the firms have been testing the waters lately on mega buyouts again, including at Royal KPN NV and Toshiba Corp.”
Forbes reported Medline Industries had revenue at $13.9 billion, 27,000 employees and a Northfield, IL headquarters, as of Nov. 23, 2020.
“Medline is the largest privately held manufacturer and distributor of medical supplies uniquely positioned to provide products, education and support across the continuum of care,” according to the company profile on its website. The profile added that, “As the company has evolved to become a leading provider of medical products and clinical solutions servicing the entire continuum of care, it has achieved double-digit revenue growth year-over-year and doubled its employee headcount.”
Medline announced in its news report Feb. 1, 2021 that it “successfully completed prime vendor implementations at two of the University of Texas System’s three acute care institutions with the third coming on board in Q2 of 2021,” and that the system honored the company for “its exceptional level of support and care during a difficult time with the UT Alliance Preferred Supplier of the Year award.”
Medline President Andy Mills was named to Modern Healthcare’s “list of the 100 most influential people in healthcare,” “which was announced in early December,” according to a news report from Medline Dec. 10, 2020. “Honorees are selected by industry peers and senior editors of Modern Healthcare through a poll that identifies those influential in healthcare, based on their leadership and impact.”
