Medline Industries IPO: how to trade Medline shares
Learn about Medline Industries and its upcoming IPO, the factors that may affect its share price, and how to trade Medline stock via CFDs when it lists.
IPO stocks are often highly volatile, and early trading can involve rapid price swings and significant risk.
When is the Medline Industries IPO date?
Medline Industries, one of the largest privately held medical supply companies in the United States, is preparing for an initial public offering (IPO). There is no official date yet, but a raise could potentially hit $5bn (Source, Reuters). This would make Medline one of the biggest healthcare IPOs in recent history, with an estimated valuation approaching $50 billion.
The company, founded in 1966 and still family-owned, was taken private in 2021 through a leveraged buyout led by Blackstone, Carlyle, and Hellman & Friedman. Its backers have been preparing to reintroduce the business to the markets as conditions for large IPOs improve.
Key factors influencing the IPO timing include:
- Market appetite for healthcare listings: following the pandemic, investors have renewed interest in companies that form the backbone of hospital and clinical supply chains.
- Financial performance: Medline’s stable revenue and recurring contracts with healthcare providers make it attractive to institutions looking for resilient growth.
- Private equity exit strategy: its owners will seek to crystallise gains from the 2021 buyout and may time the IPO to maximise valuation.
- Equity market conditions: Healthcare IPOs tend to perform better in stable market environments. If broader market sentiment sours, the float could be delayed.
The IPO is expected to be the preferred exit route for Medline’s private equity backers, as a trade sale to a strategic buyer could raise antitrust issues in the consolidated healthcare supply market.
An IPO would also allow Medline to tackle its leveraged balance sheet following the $34 billion buyout in 2021. A successful float could reduce debt, free cash for acquisitions, and give investors direct exposure to a stable, non-cyclical healthcare supplier.
What is Medline Industries?
Medline Industries is a US-based healthcare supply manufacturer and distributor headquartered in Northfield, Illinois. The company provides more than 550,000 medical products, ranging from surgical gloves and gowns to advanced wound care, diagnostic equipment, and software solutions.
Medline operates across hospitals, outpatient clinics, physician offices, nursing homes, and home care providers. It is one of the largest suppliers to the US healthcare system, competing directly with firms like Cardinal Health, McKesson, and Owens & Minor.
Key milestones in Medline’s history
- 1910 – the Mills family begins supplying aprons to Chicago hospitals, laying the foundation for Medline.
- 1966 – Medline is officially founded by Jim and Jon Mills as a medical supply company.
- 1980s–1990s – expansion accelerates; Medline begins manufacturing a wide range of hospital products and building distribution networks.
- 2000s – Medline becomes the largest privately held US manufacturer and distributor of healthcare supplies.
- 2020 – pandemic-driven demand significantly boosts sales of PPE and medical disposables.
- 2021 – acquired in a $34 billion leveraged buyout by Blackstone, Carlyle, Hellman & Friedman, and Singapore’s GIC.
- 2025 – prepares for one of the largest healthcare IPOs in US history.
Medline’s key features
- Comprehensive product portfolio – from everyday hospital supplies to high-tech surgical equipment.
- Scale and logistics – operates more than 50 distribution centres in North America and Europe.
- Customer base – supplies nearly every US hospital and tens of thousands of clinics and care providers.
- Sustainability focus – investments in recyclable packaging and reduced emissions supply chains.
- Technology integration – offers digital inventory management systems and data-driven purchasing tools to hospitals.
Beyond its core business, Medline is pursuing international expansion in Europe and Latin America, seeking to capture growth outside its dominant US market. Its partnerships with governments and NGOs in global health supply chains have positioned it as a key player in public health emergencies.
The company has also invested in value-based care solutions – helping hospitals track usage, reduce waste, and meet regulatory compliance. This positions Medline not just as a supplier, but as a partner in efficiency and cost control, making it strategically vital for healthcare systems.
Other key statistics
Medline employs more than 35,000 people globally and operates in over 125 countries. It runs dozens of manufacturing plants in the US, Mexico, and Asia, producing items from surgical drapes to mobility aids. Its vertical integration – spanning raw material sourcing, manufacturing, distribution, and logistics – enables the company to maintain supply during crises, such as the Covid-19 pandemic. This supply chain resilience has made it a trusted partner for hospitals and governments.
Medline’s longevity, family heritage, and deep integration with US healthcare systems make it a unique candidate for investors seeking exposure to essential medical infrastructure.
How does Medline Industries make money?
Medline’s revenue comes primarily from the sale and distribution of medical supplies.
| Revenue stream | Description |
|---|---|
| Consumables | Gloves, gowns, masks, drapes, and bandages sold in high volumes to hospitals and clinics. |
| Capital equipment | Hospital beds, surgical instruments, diagnostic equipment. |
| Distribution contracts | Long-term agreements with healthcare networks that provide steady recurring revenue. |
| International expansion | Sales through distribution centres in Europe, Asia, and Latin America. |
| Technology solutions | Inventory management software and consulting services. |
Medline also benefits from group purchasing organisation (GPO) contracts, which give it bulk orders from large healthcare networks. These contracts ensure stable, recurring revenues. In addition, the company has developed private-label products for hospitals and retail pharmacies, creating higher-margin opportunities compared to third-party distribution.
This model combines stable demand (driven by healthcare’s non-cyclical nature) with opportunities to expand margins via tech-enabled services and international growth.
What might influence the Medline Industries live stock price?
Once listed, Medline’s stock performance will depend on both internal execution and broader market forces.
Macroeconomic and sector trends
Healthcare is often viewed as a defensive sector, with demand less sensitive to economic cycles. However, broader equity conditions, US interest rates, and healthcare policy decisions (eg, reimbursement rates, Medicare spending) can impact investor appetite.
Company fundamentals
Investors will focus on revenue stability, EBITDA margins, and contract pipeline. Medline’s ability to convert its private equity ownership structure into a public-ready balance sheet will be a key consideration. High leverage from the 2021 buyout could weigh on sentiment if not reduced before listing.
Competition & innovation
Medline faces competition from Cardinal Health and McKesson. Its ability to differentiate via logistics efficiency, pricing, and technology integration (such as data-driven procurement tools) will influence long-term stock performance.
Regulatory and governance landscape
As a major healthcare supplier, Medline is exposed to FDA regulations, product recalls, and hospital purchasing reforms. Governance transparency as it shifts from private to public ownership will also be closely watched.
Reimbursement and policy risks
Medline’s growth depends partly on hospital and insurer spending trends. Any cuts to healthcare reimbursement or pricing pressure from government programs may weigh on performance.
Market sentiment and trading behaviour
Investor enthusiasm for healthcare IPOs may boost early trading, but private equity ownership could create overhang if sponsors sell down stakes aggressively.
You can keep your finger on the pulse of the markets with expert insight from our in-house analysts. Check out our news and analysis section for more.
How to trade Medline shares via CFDs
If Medline goes public, trading its shares via contracts for difference (CFDs) allows you to speculate on its price movements – without owning the underlying stock.
How to get started
- Choose a platform Use a trusted broker like Capital.com, offering access to thousands of shares, indices and more.
- Open an account Provide your personal details, verify your identity, complete a short suitability questionnaire, and set your trading preferences.
- Add fundsDeposit using card or bank transfer. Start small, and manage your risk carefully.
- Track Reliance Jio’s performanceUse charts, technical indicators and price alerts to monitor the market and spot trading opportunities.
- Go long or short with CFDsThink the price will rise? Go long. Expect a drop? Go short. Apply stop-loss* or take-profit levels to manage your trades.
IPOs can be volatile, especially in the early days of trading. CFDs give you the flexibility to act on price swings in either direction. They typically also enable leveraged trading, which exposes you to greater risks/potential losses. As always, it’s important to set clear risk-management parameters and stay informed with expert insights available through Capital.com’s platform and app. Past performance is not a reliable indicator of future results. Learn more about contracts for difference in our CFDs trading guide.
*Standard stop-losses are not guaranteed. Guaranteed stop-losses incur a fee when activated.
Which healthcare stocks can I trade?
While you wait for the Medline IPO, you can explore other listed companies in the sector:
- Cardinal Health (CAH) – US healthcare services and distribution.
- McKesson (MCK) – Major American pharmaceutical and medical supply distributor.
- Owens & Minor (OMI) – Supplier of medical products and logistics services.
Capital.com also offers access to healthcare-focused ETFs, such as the Health Care Select Sector SPDR Fund, giving you broad exposure to the sector.
