Private equity group reportedly nearing a $30 billion deal to buy medical supply maker Medline

Business

A worker at Medline Industries gathers exam gloves to include into Personal Protection Equipment (PPE) kits to be shipped out to various health facilities at their warehouse in Mundelein, Illinois, U.S., on Monday, Oct. 20, 2014. Photographer: Tim Boyle/Bloomberg via Getty Images
Bloomberg | Bloomberg | Getty Images

A group of private equity firms including Blackstone Group is nearing a deal to purchase medical supply manufacturer and distributor Medline Industries, The Wall Street Journal reports.

The sale could value Medline at more than $30 billion, people familiar with the matter told the paper.

Medline Industries, of Northfield, Illinois, makes 550,000 types of medical supplies for specialty medical facilities such as surgery centers, acute care facilities, nursing facilities, hospice care centers and hospital laundries, according to the company’s website. The family-owned company, which was founded in 1910 by A.L. Mills, now distributes to more than 125 countries.

Other firms involved in the deal include Carlyle Group and Hellman & Friedman, the Journal reported.

WSJ originally reported on Medline’s interest in a sale in April.

When reached by CNBC, a Blackstone spokesperson declined to comment. Representatives from Carlyle, Hellman and Medline weren’t immediately available.

Read the full report in The Wall Street Journal here.

Articles You May Like

Stocks making the biggest moves midday: Zscaler, Marvell Technology, DoorDash and more
Wrong Covid test results in China raise concerns ‘the pandemic may never end’
How electric air taxis could shake up the airline industry in the next decade
These are shaping up to be the best and worst luxury real estate markets for 2023
These 10 cars have the greatest potential lifespan — and 6 are Toyotas