Dec 16 (Reuters) – Private equity-owned medical supplies giant Medline is aiming to raise up to $7 billion in an upsized share sale, the Financial Times reported on Tuesday, citing people briefed on the talks.
Reuters could not immediately verify the report. Medline did not immediately respond to a Reuters request for a comment.
Medline is expected to price its IPO on Tuesday evening, and no final decisions have been made, the FT report said.
The Northfield, Illinois-based company had initially planned to sell 179 million shares priced between $26 and $30 apiece to raise up to $5.37 billion.
The U.S. IPO market mounted a strong comeback in 2025 after a three-year lull despite market volatility in April, fueled by President Donald Trump’s sweeping tariffs, and the longest-ever government shutdown that temporarily derailed activity.
The momentum is expected to carry into 2026, underpinned by a pipeline of high-profile companies, such as Elon Musk’s SpaceX, which will look to test investor appetite.
Medline is one of the largest manufacturers and distributors of medical supplies, including surgical kits, gloves and protective apparel to hospitals globally.
The company was founded in 1966 by brothers Jon and Jim Mills.
Medline first went public in 1972, but was taken private again by the brothers a few years later. In 2021, a consortium of private equity firms comprising Blackstone, Carlyle and Hellman & Friedman bought Medline in a $34 billion deal.
The company reported a net income of $977 million on net sales of $20.6 billion in the nine months ended September 27, compared with a net income of $911 million on net sales of $18.7 billion a year earlier.
(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shinjini Ganguli)
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