Medline Inc. has confidentially submitted a draft registration statement related to its proposed initial public offering (IPO).
In a Dec. 19 press release, the health-care manufacturer-distributor said it had submitted the statement “on Form S-1 to the U.S. Securities and Exchange Commission (SEC) relating to the proposed initial public offering of its common stock.”
The announcement added, “The number of shares to be offered and the price range for the proposed offering have not yet been determined. The offering is subject to market and other conditions and the completion of the SEC’s review process.”
Medline was founded by Jon and Jim Mills in 1966, who opened Medline’s first manufacturing facility in Covington, Indiana, in 1968. The company became publicly traded in 1972, but returned to private status in 1977, according to the timeline on Medline’s website.
The company began with textile manufacturing, but over the years expanded into injection molding to create “plastic patient amenities found in nearly every hospital room.” Medline entered the long-term care industry in the 1980s, and began distributing its own health-care products and products from other national brands in 1996.
In October 2023, Medline sold its DMEPOS supplier business unit to Home Care Delivered.
Reporting on the filing, Reuters said on Dec. 19 that Medline could be valued as high as $50 billion. In November, Reuters said that sales of Medline stock could bring as much as $5 billion.
Jim Boyle, Medline’s CEO, was named one of the 100 Most Influential People in Healthcare by Modern Healthcare, a publication that also honored Medline’s supply chain with a Best in Business award for 2024.
Boyle, who joined Medline in 1996, became the company’s CEO in 2023.
“Our relentless focus on the customer is at the heart of everything we do, and we would not be so successful without a remarkable team,” Boyle said in a Dec. 9 announcement about the awards. “These recognitions belong to them, and I’m honored to lead such a remarkable group.”
