The largest annual US stock IPO may be born! Medical giant Medline is rumored to file as early as October, aiming to raise $5 billion

According to informed sources, medical supplies manufacturer Medline is considering submitting its initial public offering (IPO) application as early as the end of October. If successful, this listing is expected to become the largest IPO deal in the United States this year.

The informed sources indicated that Medline aims to raise approximately $5 billion through this IPO, with backing from investors including Blackstone Inc., Carlyle Group Inc., and Hellman & Friedman. The company, headquartered in Northfield, Illinois, stated last December that it had submitted a "confidential" listing application; if it formally submits the application in October, the company could complete its listing as early as November.

Another informed source pointed out that Goldman Sachs and Morgan Stanley are the lead underwriters for this IPO, with Medline's valuation potentially reaching up to $50 billion. Bloomberg News previously reported that Medline's shareholders have also selected JP Morgan and Bank of America to participate in the underwriting process.

As the relevant information has not yet been made public, the sources requested anonymity and emphasized that discussions are still ongoing, and IPO details may change. A spokesperson for Blackstone declined to comment, and representatives for Medline, Carlyle Group, and Hellman & Friedman did not immediately respond to requests for comment.

According to compiled data from Bloomberg, the current U.S. stock market benchmark index is close to historical highs, and market volatility is at a low level; since the beginning of this year, U.S. IPOs (excluding blank check companies and other financial instruments) have raised $32 billion, which is slightly below the average level for the same period in the past decade before the pandemic-induced short-term IPO boom, but far exceeds the total amount raised for the entire year of 2024. If Medline raises $5 billion this time, it will easily surpass the $1.75 billion IPO scale of Venture Global in January, becoming the largest IPO in the U.S. stock market this year.

According to information on its official website, Medline primarily produces medical supplies used in hospitals and medical institutions, covering categories such as gloves, surgical gowns, and examination tables. The company currently has over 43,000 employees worldwide, with net sales projected to be approximately $25.5 billion in 2024. Notably, the $34 billion leveraged buyout initiated by private equity firms such as Blackstone and Carlyle in 2021 was one of the largest private equity transactions in history