Medline announced that certain existing shareholders affiliated with private equity firms Blackstone, Carlyle, Hellman & Friedman, and a subsidiary of the Abu Dhabi Investment Authority have commenced an underwritten public offering of 75 million shares of the company’s Class A common stock.
The secondary offering follows Medline’s recent initial public offering and is intended to provide liquidity for the selling shareholders. The company itself is not selling any shares and will not receive any proceeds from the transaction.
According to the announcement, the selling stockholders will also grant underwriters a 30-day option to purchase up to an additional 11.25 million shares of Class A common stock.
Based in Northfield, Illinois, Medline is a provider of medical-surgical products and supply chain solutions serving healthcare providers across care settings. The company employs more than 45,000 people worldwide and operates in more than 100 countries.
Support: Goldman Sachs, Morgan Stanley, BofA Securities, and J.P. Morgan are acting as global coordinators and joint bookrunning managers for the offering. Blackstone Capital Markets and Carlyle are serving as co-managers.
