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Medline debt raise at $54.5 billion valuation signals 2026 IPO path

Medline’s $6.3 billion debt raise strengthens expectations of a major healthcare IPO in 2026.
Medline Industries has raised $6.3 billion in debt at a valuation of approximately $54.5 billion, strengthening expectations of a potential IPO in 2026. The US-based medical supplies giant generated FY25 revenue exceeding $23 billion, benefiting from hospital consolidation and healthcare procurement scale. Proceeds are expected to support acquisitions and balance sheet optimisation ahead of a possible public listing.