Medline has revealed today that it discreetly filed a preliminary registration with the U.S. Securities and Exchange Commission (SEC) for a potential initial public offering (IPO).
The company, headquartered in Northfield, Illinois, has submitted its Form S-1 to the SEC as part of preparations to launch an IPO of its common stock. Key details such as the quantity of shares and the pricing range for this anticipated offering are yet to be decided. Furthermore, the offering will depend on both market conditions and the completion of the SEC’s examination process.
Ranking as the fourth-largest medical device firm globally, as highlighted by the 2024 Big 100 list by Medical Design & Outsourcing, Medline employs approximately 38,000 individuals and generates annual revenues of $23.2 billion, while remaining privately owned. The company specializes in offering medical-surgical products and supply chain solutions.
According to a report by Reuters earlier this year, the company anticipates the IPO — projected for 2025 — could raise an estimated $5 billion.
The potential growth of medtech IPOs follows a period of stagnation in the market. A recent analysis by Bank of America noted that a stalled IPO market has contributed to certain merger and acquisition activities, which often involve private companies. Recent months have already witnessed several IPOs, including those by neurotech firm CeriBell in October and transcatheter heart valve technology innovator Anteris Technologies earlier this month.