Medline (MDLN) IPO Price Prediction: Will MDLN Stock Explode Post IPO?

Last updated: 10/29/2025 11:57

On October 28, Medline Industries, a private equity-backed medical supply giant, filed to go public following a postponement earlier this year. This strategic move comes at a time when the new listings market is experiencing a significant resurgence following a period of nearly three years of sluggish activity. It is estimated that Medline’s IPO could raise approximately $5 billion, which would make it one of the year’s largest private equity-backed deals.

As the company prepares to list on the Nasdaq under the ticker symbol “MDLN,” traders and long-term investors alike are asking: What will Medline stock be worth? Is it a good investment for 2025? This article provides a comprehensive analysis of Medline’s business model, IPO details and market significance, as well as Medline IPO stock price predictions, thus helping investors decide whether investing in MDLN stock aligns with their strategic financial goals.

Table of Contents

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What is Medline Industries: A Quick Overview

Medline Industries, LP (“Medline”) is a U.S.-based privately held manufacturer and distributor of medical-surgical supplies, headquartered in Northfield, Illinois. The company manufactures and distributes medical products including wound dressings, surgical supplies and durable medical equipment.

Founded originally in 1966 by brothers Jim and Jon Mills (with roots stretching back to a garment business in 1910), Medline has grown into one of the largest privately held players in the medical-supply space, serving hospitals, clinics, home-care agencies and other care settings in more than 100 countries.

As the largest provider of medical-surgical products, Medline offers an extensive range of products, including surgical and procedural kits, gowns, gloves and protective apparel, as well as urological and incontinence care products, wound care products and consumable lab and diagnostics products. Its business model is centered on an extensive product catalogue (exceeding 335,000 items, including many Medline-branded products) and a vertically integrated supply chain/distribution network.

In 1972, Medline went public but was subsequently acquired by the Mills brothers and returned to a private status. In June 2021, a consortium of private-equity firms (Blackstone Group, The Carlyle Group and Hellman & Friedman) acquired the company in a transaction valued around US$34 billion, marking one of the largest leveraged buy-outs in the healthcare sector.

In the first half of 2025, Medline reported net sales of $13.53 billion, compared with $12.34 billion a year earlier. The company’s profit for the same period increased to $655 million, up from $587 million year on year.

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Medline IPO: A Full Review of Its IPO Journey

Medical supply company Medline is making its return to public markets after being private for many years: the company was public in the early 1970s (went public in 1972) and then taken private again in 1977.

Early in December 2024, medical supply company Medline filed confidentially for a listing in the US, but turbulent market conditions driven by tariffs forced it to push back its plans to go public.

On October 28, Medline filed its S-1 to go public—no terms—in a deal that’s already creating a stir on the Street. The move comes as improved public market valuations, a more favorable macro environment, and the persistent pressure on PE firms to exit mature assets have encouraged more GPs to take their portfolio companies public.

Medline is aiming to list on the Nasdaq and trade under the “MDLN” ticker symbol as early as Q2 2025. This could see the privately held company raise roughly $5 billion, which would result in a market value of about $50 billion.

The company plans to use the proceeds for debt repayment or other general corporate purposes, according to its recent S-1 filing. Proceeds from any additional share sales under the underwriters’ option will be used to redeem equity interests held by some of Medline’s pre-IPO owners—which include its financial sponsors and the Mills Family—at the IPO price.

Goldman Sachs, Morgan Stanley, BofA Securities and J.P. Morgan are acting as lead bookrunning managers for the offering.

Following the IPO, Medline will undergo a corporate restructuring, forming a new holding company, Medline Inc., which will hold equity interests in Medline Holdings and its subsidiaries.

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What’s the Significance of Medline IPO?

Medline’s IPO comes as improved public market valuations, a more favorable macro environment and the persistent pressure on PE firms to exit mature assets have encouraged more GPs to take their portfolio companies public.

As a leading player in its field, Medline’s IPO is poised to be a highlight of the year’s financial market events. If Medline successfully lists at a valuation of $50 billion, it would draw significant attention and could also encourage more companies to push ahead with their IPOs, potentially acting as a bellwether for IPO market sentiment.

The IPO of Medline could also be a significant success for its private-equity owners — Blackstone, Carlyle, and Hellman & Friedman—which collectively acquired it in a deal valued at $34 billion in 2021.

The IPO is indicative of the maturing stage of a significant private-equity investment (i.e., the 2021 buy-out) entering the market. The timing, pricing, and aftermarket performance of this exit could influence the timing of other large PE-owned companies.

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Medline (MDLN) IPO Price Prediction

While the company has not disclosed the size or proposed price range for its offering, Reuters previously reported, citing sources, that the company could aim to raise $5 billion.

Provided there is strong aftermarket support, a low float, high institutional engagement, and a revival of the IPO market, as well as an increased investor allocation to healthcare infrastructure, the MDLN stock IPO price could experience a significant rally.

However, should growth prove to be slower than expected, or margins remain static, investor enthusiasm may be tempered. Should regulatory headwinds emerge, or should medical sentiment turn negative, the price of MDLN stock could fall dramatically, reflecting the risk of IPO momentum failing to meet expectations.

The IPO price per share of MDLN stock is determined by a number of factors, including the number of shares issued, the extent of dilution, and the underwriters’ assessment of demand. We will update this article with further information as it becomes available.

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Should You Buy MDLN Stock After IPO?

Investing in MDLN stocks following its IPO necessitates a thorough evaluation of the potential benefits and risks associated with investing in the medical market. The company’s debut coincides with a favourable business climate, with improved public market valuations and a more favourable macro environment. This, coupled with the ongoing pressure on private equity firms to divest their mature assets, has encouraged more general partners to take their portfolio companies public.

As with any medical-focused listing, the stock’s trajectory in the months following its public offering will be largely determined by execution capability, regulatory clarity and market sentiment towards the medical market. . The key benefits and risks are outlined below:

Benefits to Consider	Risks to Weigh
Sector Defensiveness + Scale: Medline offers large-scale exposure in the medical-supply chain, a baseline sector that tends to be less cyclical than pure tech.	Valuation risk: The anticipated valuation is high for a business of its type; any growth miss may lead to sharp correction.
Institutional backing and maturity: The private-equity backing and scale of the business lend credibility ahead of its public debut.	Limited precedent: Large PE-owned companies sometimes face public-market scrutiny more visibly and may underperform initially.
Market-leading position: With a broad product catalogue and global reach, Medline has a platform for growth and strategic expansion.	Post-IPO volatility: Many new issues undergo early volatility; a “wait-and-see” approach may be prudent.

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Conclusion

Medline’s imminent IPO represents one of the most significant potential listings of 2025. With a target raise of ~US$4-5 billion and an implied valuation in the US$45-55 billion range, the offering has the scale to become a marquee transaction.

For investors, Medline offers an intriguing but speculative opportunity: the company’s strong business fundamentals—large product portfolio, global distribution, significant revenue base—provide a solid foundation. If all goes well, the MDLN stock could “explode.” However, the high valuation, execution demands, and market-timing risks mean that the path to stellar gains is not certain. In a subdued scenario, it may struggle to meet expectations.

As with any investment that bridges the gap between the crypto and public markets, thorough due diligence on treasury strategy, regulatory stance, and medical market health is essential before committing capital.

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