Medline shares rise 41% amid year’s largest IPO
U.S.-based medical and surgical supplies firm Medline raised nearly $6.3 billion during the year’s largest initial public offering Wednesday. Photo by 1662222/Pixabay
The share price of medical supplies titan Medline rose by 40% during Wednesday’s trading on the first day of its initial public offering, which is the year’s largest.
Medline’s IPO raised $6.3 billion after opening at $29 per share and closing at $41, while posting a gain of $12 per share for a 41.38% rise, according to Yahoo Finance.
The share price continued its rise during after-hours trading.
Its share price opened at $35 on Wednesday morning and continued its rise afterward to post a gain of $6.26 billion, CNBC reported.
“Historically, we’ve done very little advertising, very little marketing, and this gives us a way to amplify our voice and actually expand really the receptivity of who we are,” Medline Chief Executive Officer Jim Boyle said when interviewed on CNBC’s “Squawk Box” on Wednesday.
“We are the largest company you’ve never heard of, and we happen to be everywhere,” Boyle added.
The $6.26 billion makes Medline the world’s largest among 200 IPOs in 2025 and the largest since Rivian raised $13.7 billion in its IPO in November 2021.
Medline officials reported selling more than 216 million shares at $29 each, and the firm’s market capitalization topped $50 billion among its 1.3 billion Class A shares.
The IPO debuted on Nasdaq and is traded under the MDLN symbol and is one of the largest public offerings that are backed by private equity firms.
Carlyle, Blackstone and Hellman & Friedman in 2021 paid a combined $34 billion to acquire a majority stake in Medline.
The IPO was delayed amid President Donald Trump’s tariff policies due to their potential impact on Asian markets and especially China.
Medline is based in Northfield, Ill., and was founded in 1966. It produces about 335,000 types of medical and surgical supplies, ranging from masks and gloves to scalpels and wheelchairs, according to CNBC.
The medical supplies firm has customers in more than 100 nations and employed more than 100,000 globally in 2024.
It reported a debt of $16.8 billion in September after posting net sales of $25.5 billion a year ago.