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June 7, 2021updated 02 Nov 2021 6:36am

Private-equity group to invest in medical equipment supplier Medline

Medline will leverage the proceeds to grow its product portfolio as well as support growth and expansion. 

Medline Industries has signed a definitive agreement for a majority investment from a collaboration made up of funds managed by private-equity firms, Blackstone, Carlyle and Hellman & Friedman.

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The collaboration will expedite Medline’s growth and aid in the company’s expansion globally. The deal is said to be valued at more than $30bn.

A privately held company, Medline manufactures and distributes healthcare supplies, primarily medical equipment, in the US. It reported a revenue of $17.5bn last year.

Medline allies with various healthcare providers across the globe to provide products and solutions that lower costs, boost supply chain efficiency and enhance the quality of care.

The company’s portfolio, customer service, responsiveness and collaboration offer substantial value for its clients, Medline noted.

Medline CEO Charlie Mills said: “This investment from some of the world’s most experienced and successful private investment firms will enable us to accelerate that strategy while preserving the family-led culture that is core to our success.”

Subject to regulatory approvals and necessary closing conditions, the deal is anticipated to conclude later this year. After closing, Medline will remain a privately held company led by the Mills family.

The Mills family will be the major single shareholder in the company and the complete senior management group will remain unchanged.

The company intends to utilise the investment proceeds to increase its product offerings, expand worldwide and finance infrastructure investments to bolster its international supply chain.

Carlyle healthcare global head Steve Wise said: “We are excited to partner with Medline’s impressive management team to accelerate growth through continued execution, innovation and investment.

“With a deep commitment to sustainable value creation, we look forward to leveraging our combined operational capabilities, expansive healthcare network and capital to support organic and inorganic growth initiatives for the company.”

In addition, the Singaporean sovereign wealth fund, GIC, is investing as part of this collaboration.

Goldman Sachs served as lead financial advisor to Medline, while BDT was the financial advisor and Wachtell, Lipton, Rosen & Katz acted as legal advisor.

Last month, Medline signed a definitive agreement to acquire select assets under the Hudson RCI brand of Teleflex’s Respiratory business for $286m in cash.

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Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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