Medline takes private investment
By HME News Staff
Updated 10:20 AM CDT, Mon June 7, 2021
NORTHFIELD, Ill. – Medline Industries has entered into an agreement to receive a majority investment from a group of private equity firms, including Blackstone, Carlyle Group and Hellman & Friedman, worth a reported $30-plus billion.
Medline, which generated revenues of $17.5 billion in 2020, will use the new resources from the partnership to expand its product offerings, accelerate international expansion and continue to make new infrastructure investments to strengthen its global supply chain.
“Making health care run better has been our focus for decades,” said Charlie Mills, CEO. “This investment from some of the world’s most experienced and successful private investment firms will enable us to accelerate that strategy, while preserving the family led culture that is core to our success.”
Following the close of the deal, Medline will remain a privately held company led by the Mills family, which will remain the largest single shareholder. The entire senior management team will also stay in place.
GIC, Singapore’s sovereign wealth fund, is also part of the group making the investment.
The investment is expected to be completed in late 2021 and is subject to regulatory approvals and customary closing conditions.
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