Medline boasts $2.4B in new customer signings in 2025

NORTHFIELD, Ill. – Medline reported net sales of $7.8 billion for the fourth quarter of 2025, a 14.8% increase compared to the same period in 2024, and $28.4 billion for full-year 2025, an 11.5% increase compared to 2024.

Fourth quarter highlights

• Net income was $180 million, a 37.7% decrease, driven by higher costs of goods sold due to tariffs and higher operating costs, including investments in head count and costs related to the company’s recent initial public offering (IPO).
• Adjusted EBITA was relatively flat at $805 million.

Full-year highlights

• Net income of $1.2 billion, a decrease of 3.6%
• Adjusted EBITDA of $3.5 billion, an increase of 3.2%

“We delivered strong fourth quarter results, concluding a successful 2025 with $2.4 billion in total new customer signings,” said Jim Boyle, CEO. “This performance reflects the confidence customers place in our value, service and reliability, and our unique capability to support health systems across the entire continuum of care.”

CEO Jim Boyle on recent IPO

“The quarter also marked a major milestone with the completion of our successful initial public offering. Becoming a public company amplifies our voice and strengthens our foundation by enabling continued investments to drive growth and deliver greater value to customers. We expect our momentum to continue, and with our scale, broad product portfolio, and unmatched distribution footprint, we believe we are well positioned for sustainable long‑term growth.”

Future guidance

For full year 2026, Medline expects organic sales growth of 8% to 9% and adjusted EBITDA of $3.5 to $3.6 billion.