Medline’s Record-Breaking $6.26B IPO Sends Shockwaves Through Wall Street as MDLN Skyrockets
Medical supply behemoth, Medline Industries, made a spectacular entrance on Wall Street in late 2025. The company raised a staggering $6.26 billion, marking the largest U.S. initial public offering of the year. This was the most significant American stock debut in four years, since EV manufacturer Rivian raised $11.9 billion in 2021.
The Northfield, Illinois-based company, trading under the ticker symbol MDLN on the Nasdaq, priced its shares at $29 each. It sold over 216 million shares, significantly upscaling from an initial offering of 179 million shares due to overwhelming investor demand. On its first trading day, MDLN opened at $35 and closed over 40% higher at $41, giving the company an approximate valuation of $54 billion.
Medline operates largely behind the scenes, supplying hospitals and healthcare providers across America. The company manages numerous distribution centers and a fleet of 2,000 trucks to ensure next-day delivery of medical equipment. Its catalog boasts 190,000 products, and it employs over 43,000 people. Impressively, the company has achieved more than 50 consecutive years of sales growth.
CEO Jim Boyle rang the Nasdaq opening bell to commemorate this milestone. The proceeds from the offering are primarily being used to pay down debt incurred during the company’s 2021 leveraged buyout. Post-IPO debt is expected to decrease from $16.8 billion to approximately $11 billion. In 2026, Medline reported first-half net sales of $15 billion — an 11.1% increase year-over-year — solidifying its position as a powerhouse in the healthcare sector.
Source: Fierce Biotech – Medline Makes Nasdaq Debut, Raising $6.26B in Year’s Largest IPO