Medline Inc. (MDLN Proposed) filed its S-1 to go public today – no terms – in a deal that’s already creating a stir on the Street. This could be a blockbuster IPO. Bloomberg estimates that Medline’s IPO could raise about $5 billion in what is likely to be one of the biggest private equity-backed deals of the year. Blackstone, Carlyle and Hellman & Friedman took Medline private in 2021.
Medline is the largest provider of medical-surgical products, including surgical and procedural kits, gowns, gloves and protective apparel, along with urological and incontinence care, wound care and consumable lab and diagnostics products, according to the prospectus (S-1 filing) dated Oct. 28, 2025. The company, based in Northfield, Illinois, has been in business since 1966.
Goldman Sachs, Morgan Stanley, BofA Securities and J.P. Morgan are the joint book-runners.
This is a NASDAQ listing.
Medline will use some of the IPO proceeds to pay off debt.
Medline is profitable: Net income of about $1.27 billion on revenue of about $26.7 billion for the 12 months that ended June 28, 2025, according to the prospectus.
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