Medline officially files for IPO 

NORTHFIELD, Ill. - Medline has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) related to a proposed public offering of its common stock. 

The number of shares to be offered and the price range and other terms for the offering have not yet been determined. If the offering is completed, Medline intends to list its stock on the Nasdaq Global Select Market under the symbol “MDLN.” Goldman Sachs & Co. LLC, Morgan Stanley, BofA Securities and J.P. Morgan are acting as lead bookrunning managers for the proposed offering. 

Company history 

Medline was founded by brothers Jon and Jim Mills in 1966 and was later led by Andy Mills, president, and Charlie Mills, CEO, beginning in 1997. Medline formed a strategic partnership with Blackstone, Carlyle and Hellman & Friedman in 2021, and appointed Jim Boyle CEO and Jim Pigott as COO in 2023.  

The company was previously a publicly traded company from 1972-77. 

CEO comment 

“Becoming a public company is a responsibility that we take seriously,” Boyle said in the Form S-1. “We will create value for our shareholders through our relentless customer focus, stellar execution and commitment to long-term success.” 

Financials 

For the six months ended June 28, 2025, Medline generated: 

• Net sales of $13.5 billion 
• Net income of $0.7 billion 
• Adjusted EBITDA of $1.8 billion 

This represents a net income margin of 4.8% and an adjusted EBITDA margin of 13.3%. During this period, 48.7% of total net sales and 81.8% of Segment Adjusted EBITDA were generated from its Medline Brand segment, while 51.3% of total net sales and 18.2% of Segment Adjusted EBITDA were generated from its Supply Chain Solutions segment.