Core Insights - Medline Industries has made a significant impact on Wall Street by completing the largest US IPO of 2025, raising $6.26 billion, and marking the biggest stock debut in four years since Rivian's IPO in 2021 [1][3] - The company is now valued at approximately $54 billion after its stock closed over 40% higher on its first trading day [4] Company Overview - Medline is a major provider of medical-surgical products and supply chain solutions, with a catalog of 190,000 branded products and over 43,000 employees globally [5][9] - The company has a commitment to next-day delivery for 95% of its US customers, highlighting its extensive operational capabilities [9] IPO Details - The IPO initially planned to issue 179 million shares but was upsized to 216 million shares due to overwhelming demand, with an additional 30-day option for underwriters to purchase up to 32.4 million shares [5] - The proceeds from the IPO will be used to repay debt, cover general corporate purposes, and handle offering expenses, as Medline has a significant debt load from its 2021 leveraged buyout [6] Investor Participation - Notable investment firms have committed $2.35 billion to the IPO, including Morgan Stanley's Counterpoint Global, Baillie Gifford, and Singaporean sovereign wealth fund GIC Pte [7] Market Outlook - The successful IPO sets a positive tone for 2026, with potential public offerings from major companies like SpaceX and Anthropic anticipated [3]
Medline IPO sets surprising record