Medline announced today that it confidentially submitted a draft registration to the U.S. SEC related to a proposed initial public offering (IPO).
The Northfield, Illinois—based company submitted its Form S-1 to the SEC as it looks to commence an IPO of its common stock. The number of shares and the price range for the proposed offering remain undetermined. This offering also remains subject to market and other conditions, plus the completion of the SEC’s review process.
Medline is the fourth-largest medical device company in the world, according to the Medical Design & Outsourcing 2024 Big 100 list. It has around 38,000 employees and collects annual revenues of $23.2 billion, but currently remains privately held. It delivers medical-surgical products and healthcare supply chain services.
Reuters reported earlier this year that the company expects the IPO — set to take place in 2025 — to raise around $5 billion.
Medtech IPOs could be on the rise after a period of recent stagnation. A recent Bank of America analysts’ report cited a frozen IPO market as a reason behind certain M&A trends, including the involvement of private companies. In the past few months alone, the industry has seen a handful of IPOs, including neurotech company CeriBell in October and transcatheter heart valve technology developer Anteris Technologies earlier this month.
