Medline shares surged more than 40% in their hotly anticipated New York debut on Wednesday, valuing the medical supply giant at $54 billion in the largest US initial public offering since Rivian’s 2021 listing, capping a strong year for new listings and fueling optimism for 2026.Shares of the company opened at $35, compared with its IPO price of $29 per share. The stock closed at $41.The medical supplies maker and distributor — acquired for $34 billion in 2021 by Blackstone, Carlyle and Hellman & Friedman i ...

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Core Insights - Medtech companies are facing increased tariff uncertainty due to a Section 232 investigation initiated by the Trump administration into medical equipment [1][5] - The investigation began on September 2 and was disclosed by the Department of Commerce [1] - Industry group Advamed is lobbying for exemptions from tariffs, highlighting that 70% of medical equipment used in the U.S. is domestically produced [2] Industry Implications - Advamed's CEO stated that the investigation will demonstrate the strength of U.S. medtech manufacturing and that lower tariffs could lead to increased manufacturing and job growth, benefiting access to lifesaving technologies and reducing costs for hospitals and patients [3] - The investigation encompasses a wide range of medical products, including syringes, IV bags, and complex devices like insulin pumps and imaging machines [4] Potential Outcomes - Major medical device firms, such as Siemens Healthineers and GE Healthcare, have not publicly commented on the investigation, while Philips indicated no immediate operational or financial impact should be assumed [4] - Analysts expect that the investigation may lead to additional tariffs for the medtech industry, potentially following a gradual increase similar to the approach taken with pharmaceuticals [6]