New reports claim that medical supply company Medline Industries is planning for an initial public offering (IPO) as early as Q2 2025. This could see the privately held company raise roughly $5 billion, which would result in a market value of about $50 billion.
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Investors will note that Medline Industries is owned by private-equity firms Blackstone (BX), Carlyle (CG), and Hellman & Friedman. These firms came together in 2021 to purchase Medline Industries in a $34 billion deal.
It also bears mentioning that this isn’t the first time Medline Industries has gone public. The company made its public debut in 1972 but went private again just five years later.
Can Medline Industries Challenge Medtronic?
First off, traders will keep in mind that Medline Industries is not a lightweight in the medical supply industry. Its revenue alone is enough to impress, coming in at $21.2 billion in 2023. For perspective, medical supply sector leader and rival Medtronic (MDT) reported revenue of $31.23 billion that year.
While Medline Industries still has a ways to go if it wants to catch up to Medtronic, there’s evidence that it’s on the right path. Tracking the company’s revenue over the last five years shows significant growth. Its 2023 revenue represents an 81.2% increase compared to the $11.7 billion reported in 2019. For comparison, Medtronic’s revenue growth over that period was only 2.05%.
Will Medline Industries Stock Be Worth Buying?
While shares of Medline Industries stock aren’t available on the public market yet, investors will want to keep an eye on the medical supply company. Its revenue growth and interest from private equity firms make it a potential candidate for traders’ portfolios. It will be interesting to see what analysts have to say about the company if it does hold an IPO next year.
