A consortium of private equity firms has concluded a deal — supposedly worth about $34 billion — to acquire family-run Medline, the medical supply and Equipment Company reported Saturday.
The leveraged buyout’s worth was accounted for by The WSJ, which said the acquiring firms — Blackstone Group, Carlyle Group and Hellman and Friedman LLC — had beat down an adversary bid from Brookfield Asset Management, a Canadian investing firm.
Northfield, Illinois-based Medline is a significant producer and distributor of everything from anesthesia to wheelchairs, beds and lab supplies utilized in clinics and other medical services communities in more than110 nations. It likewise sells consumer items including the Curad line.
Medline said in a release that the company will keep on being privately held and led by the family of Charlie Mills, the CEO, and that it will remain the biggest single investor.
It said the whole senior management team will remain in place.
Medline, with 28,000 employees around the world, said it had income of $17.5 billion in 2020.
It said it would utilize the new investment to speed up global expansion and reinforce its global supply chain.
