Five details:
1. Three private equity firms, Blackstone, Carlyle and Hellman & Friedman, partnered with Singapore’s sovereign wealth fund GIC for a majority investment in Medline, the companies announced June 5.
2. The transaction, valued at more than $30 billion according to The Wall Street Journal, is expected to close in late 2021.
3. In 2020, Medline reported $17.5 billion in revenue and the company plans to use the new funds to expand product offerings, grow faster internationally and invest in global supply chain infrastructure.
4. Post-transaction, the Mills family will still be the largest single shareholder and Medline will remain a privately held, family-led company. The senior management team is staying entact.
5. This investment in Medline is the largest leveraged buyout in more than 10 years, according to the Journal.
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
