Core Insights - Medline's IPO debuted at $29 per share, raising approximately $6.26 billion with an implied valuation near $50 billion, marking it as the largest listing of the year [1] - The company is backed by major investment firms including Blackstone, Carlyle, and Hellman & Friedman, and increased its offering to meet strong institutional demand [1] Financial Performance - Medline carries about $17 billion in debt from a 2021 leveraged buyout and plans to use IPO proceeds to repay senior secured term loans, which is viewed positively by credit rating agencies [3] - For the nine months ending September 2025, Medline reported approximately $1 billion in net income on $20.6 billion in revenue, with adjusted EBITDA of $2.7 billion and a margin of 13.3% [4] - Analysts suggest that if Medline allocates $3–$4 billion for debt repayment, it could reduce leverage ratios by 0.5–1.0x, which is significant but not transformative [4] Customer Relationships and Market Position - The company boasts a 98% Prime Vendor retention rate, indicating strong customer relationships that support consistent cash generation [5] - Medline sources one-third of its products in-house from 33 manufacturing facilities, while the remainder comes from over 500 suppliers across 40 countries [7] Tariff Challenges and Competitive Landscape - Medline faces tariff headwinds that could impact earnings before taxes by $325–$375 million in 2025 and an additional $150–$200 million in 2026, which may offset organic growth [6] - The company must decide whether to absorb tariff costs or pass them on to hospitals, with most healthcare distributors only able to pass through 40–50% of these costs [8] - The competitive landscape includes major players like Cardinal Health, McKesson, and Owens & Minor, which intensifies pricing pressures due to private-label penetration and customer consolidation [8] Future Outlook - Investors are advised to monitor the company's ability to achieve a net leverage target of 2.5–3.0x within 18–24 months, as interest coverage and debt levels will be closely scrutinized [5] - The success of the IPO will depend on effective execution in deleveraging, managing tariff impacts, and maintaining margin discipline [9]

Welcome to Morning Brief presented by Robin Hood, the home to commission free [music] trading. I'm Julie Hyman. Here's what we're watching today.First up, OpenAI is in talks to [music] raise $10 billion from Amazon. We'll have more on that report and what Amazon seeks to gain from that deal. Plus, as Micron prepares [music] to deliver its earnings after the bell, we'll break down the true cost of the artificial intelligence [music] buildout.And oil prices rebound after President Trump issues a complete bloc ...

So, let's get to KG on some of these top headlines and see what is driving the price action. And let's start with crude because we of course are tracking Trump's lines this morning about a blockade of these Venezuelan oil tankers. Just talk us through the significance of that story and the impact we're seeing on the markets this morning.KJ, >> yeah, you are seeing crude up about 1.3% so far. We actually did see a pullback here a tad bit. I mean the the supply glut narrative that's taking place in the market ...

Company Overview - Medline has been a private company for 58 years with consecutive growth and is now seeking to go public to expand its voice and market presence [1][2] - The company aims to be the "Costco of healthcare," utilizing a membership model that provides value and savings to its customers [5] Financial Performance - Medline has a 99% customer retention rate and offers over 335,000 products from 29 million square feet of warehouse space in the US [6] - The company's margins are designed to support ongoing investments in the business, with a current margin of approximately 13% [7][8] - As of September, Medline reported a net debt of about $15 billion and a net debt to EBITDA ratio of 4.8%, with plans to reduce this to 3.25 through a $5 billion IPO, allocating $4 billion for debt reduction [10] Market Position and Strategy - Medline positions itself as a value player in the healthcare market, focusing on cost and price competitiveness [8] - The healthcare industry is facing challenges such as reimbursement cuts and shifts in care delivery, which Medline aims to navigate by providing timely and valuable solutions to its customers [12][13]

All right, welcome back to Worldwide Exchange. As we close on the 6 a. m.hour, a check on a few big stories that we're following this morning. Sources tell CNBC Open AI is in talks to raise at least $10 billion from Amazon and use its chips. Open AAI has so far declined to comment.A deal could value OpenAI at more than $500 billion and see it adopt Amazon's Tranium chip, a story that we're continue to follow throughout the morning. All right, Whimo is in talks to raise $15 billion in funding in the new year ...

All right, welcome back to Worldwide Exchange. As we close on the 6 a. m.hour, a check on a few big stories that we're following this morning. Sources tell CNBC Open AI is in talks to raise at least $10 billion from Amazon and use its [music] chips. Open AAI has so far declined to comment.A deal could value OpenAI [music] at more than $500 billion and see it adopt Amazon's Tranium chip, a story that we're continue to follow [music] throughout the morning. All right, Whimo is in talks to raise $15 billion in ...

Core Viewpoint - Medline is set to debut on the Nasdaq after raising $6.26 billion in the largest global initial public offering of 2025, marking a strong year for new listings [1] Group 1 - The IPO raised $6.26 billion, making it the biggest IPO globally in 2025 [1] - This event highlights a robust market for new listings in the current year [1]

Core Viewpoint - Medline Inc. has announced the pricing of its upsized initial public offering (IPO) of 216,034,482 shares of Class A common stock at a price of $29.00 per share, with trading expected to begin on December 17, 2025, under the symbol "MDLN" [1]. Group 1: IPO Details - The underwriters have been granted a 30-day option to purchase an additional 32,405,172 shares of Class A common stock [1]. - Medline plans to use the proceeds from the issuance of 179,000,000 shares to repay outstanding indebtedness under its senior secured term loan facilities, with the remainder allocated for general corporate purposes and offering expenses [1]. - The offering is expected to close on December 18, 2025, subject to customary closing conditions [1]. Group 2: Underwriters and Managers - Goldman Sachs & Co. LLC, Morgan Stanley, BofA Securities, and J.P. Morgan are acting as global coordinators and lead bookrunning managers for the offering [2]. - A number of other financial institutions are involved as bookrunning managers and co-managers for the proposed offering [2]. Group 3: Company Overview - Medline is the largest provider of medical-surgical products and supply chain solutions, serving all points of care [5]. - The company has a broad product portfolio, resilient supply chain, and leading clinical solutions aimed at improving healthcare providers' clinical, financial, and operational outcomes [5]. - Medline is headquartered in Northfield, Illinois, employs over 43,000 people worldwide, and operates in more than 100 countries [5].

Core Insights - Solventum has achieved the Diamond Level Resiliency Badge from the Healthcare Industry Resilience Collaborative (HIRC), marking the highest recognition for supply chain strength in healthcare [1][2] - This certification validates Solventum's MedSurg segment's capability to deliver critical healthcare products consistently, even during supply disruptions [1][3] Company Achievements - The Diamond Level Badge is awarded based on a rigorous assessment of resiliency across key domains such as demand planning, inventory management, logistics visibility, supplier management, and risk mitigation [3] - Solventum's Chief Supply Chain Officer emphasized the company's investment in visibility tools, risk management processes, and contingency planning to ensure customer needs are met [4] - The Diamond Level Badge was received across all MedSurg product lines, including negative pressure wound therapy, advanced wound dressings, and surgical solutions [4] Industry Impact - The achievement of the Diamond Level Badge signals to customers that Solventum has the right team and infrastructure to navigate future challenges in the healthcare supply chain [5] - The recognition reflects the company's commitment to operational strength and proactive risk management, ensuring continuity of patient care [2][3]

Private equity-owned medical supplies giant Medline is targeting an offering of up to $7 billion in an upsized share sale, the Financial Times reported on Tuesday, citing people briefed on the talks. ...