Medline is preparing for a potential IPO filing as early as late October, which could lead to a November listing.

The Illinois-based medical supplies maker, backed by Blackstone, Carlyle Group, and Hellman & Friedman, may raise around US$5 billion at a valuation of up to US$50 billion.

Goldman Sachs and Morgan Stanley are leading the deal, joined by JP Morgan and Bank of America.

Founded in Northfield, Medline reported US$25.5 billion in 2024 sales, employs over 43,000 people, and makes products like gloves, gowns, and exam tables.

Its 2021 US$34 billion leveraged buyout was one of the largest ever, and its IPO could be the biggest US listing of 2025, with IPOs already raising US$32 billion this year.

🔗 Source: Bloomberg