Medline IPO sets surprising record

Medline Industries, one of the largest providers of medical surgical products and supply chain solutions, is now trading under the ticker MDLN on the Nasdaq Composite.It set a new benchmark for Wall Street as the largest US IPO of 2025 and the biggest US stock debut in four years, since EV maker Rivian raised $11.9 billion in 2021. Medline also became the fifth U.S.-listed firm to raise more than $5 billion in an IPO over the past decade, according to Bloomberg.The other four companies are Uber Technologies, Arm Holdings, Lineage, and Rivian.This IPO also set an optimistic tone for 2026, which might see initial public offerings from giants like SpaceX and Anthropic. With investor confidence backing the public offering, Medline, a medical supply titan, raised $6.26 billion after significantly upsizing its share offering due to an overwhelming demand. The stock, initially priced at $29, experienced a dramatic rise on its first day, opening at $35 on Wednesday, December 17, at the Nasdaq. It went on to close more than 40% higher at $41, valuing the company at approximately $54 billion. On Thursday, however, it was trading slightly lower, down 3.7% intraday. Medline is a provider of medical-surgical products & supply chain solutions.Medline The surprising Medline IPOMedline initially planned to issue 179 million shares but had to upsize due to overwhelming demand, adding 37 million shares right before the IPO launch, thus bringing the total to 216 million shares. The medical supplier has also added a 30-day option for underwriters to purchase up to an additional 32.4 million shares of Class A common stock.More Health Care:Dave Ramsey sounds nationwide Medicare alarmMedicare drug decision will have major impact on older womenWhat Medicare Part B price hike means for your 2026 Social SecurityFDA restricts children’s health products over safety concernsWhat Doom Scrolling Does to Your Mental HealthOf these, it intends to use the proceeds from the 179 million shares to repay debt, for general corporate purposes, and to bear the offering expense. Medline has had a significant debt load since its 2021 leveraged buyout by Blackstone, Carlyle, and Hellman & Friedman. Some of the investment firms that have agreed to $2.35 billion in commitments include Morgan Stanley’s Counterpoint Global, Baillie Gifford, Capital Group, Durable Capital Partners, Singaporean sovereign wealth fund GIC Pte, Janus Henderson Investors, Viking Global Investors, and WCM Investment Management, Bloomberg reported. Related: 22 million Americans hit by ACA health insurance cliff after vote failsThe 'unknown' biggest medical supplierA company catalog of 190,000 branded products across all points of healthcare, more than 43,000 employees worldwide, and a promise of next-day delivery for 95% of its US customers, Medline is everywhere and yet comparatively unknown, which is what surprised investors at the scale of its IPO.However, Medline boasts of massive manufacturing centers and 69 global distribution centers, of which 45 are in the US alone. Along with a private fleet of 2000 trucks, the company boasts more than 50 years of consecutive annual sales growth, which it views as a key factor in developing trust with its customers.Its supplies include gowns, gloves, exam tables, scrubs, beds, and mattresses, as well as lab and surgery supplies. The company also ventures into textiles and skincare products, aiming to emerge as an all-inclusive provider of health supplies. With healthcare standing out as one of the sectors adding the most jobs in the country, according to the latest job reports, and making breakthroughs with the government to offer subsidized weight loss and diabetes management medicines, the upcoming years look optimistic for healthcare development.Related: CPI inflation data rocks stocks