June 7, 2021 – Medline Industries, Inc. (Northfield, IL), has entered into a definitive agreement through which it will receive a majority investment from a partnership comprised of funds managed by Blackstone, Carlyle, and Hellman & Friedman.

Following the close of the transaction, Medline will remain a privately held, family-led company. Medline will continue to be led by the Mills family, who will remain the largest single shareholder. The entire senior management team will stay in place, Medline says.

The company plans to use the new resources from the partnership to expand its product offerings, accelerate international expansion and continue to make new infrastructure investments to strengthen its global supply chain.

Including debt, the transaction would be valued at about $34 billion, and north of $30 billion excluding borrowings, people familiar with the matter said. That could potentially make it the largest healthcare leveraged buyout ever, according to the Wall Street Journal. . .

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