Medline Inc. announces closing of upsized secondary offering of Class A common stock
Rhea-AI Summary
Medline (Nasdaq: MDLN) closed an upsized secondary offering of 72,554,594 Class A shares, sold by stockholders affiliated with Blackstone, Hellman & Friedman and Abu Dhabi Investment Authority at $37.00 per share.
The selling holders granted underwriters a 30-day option for up to 10,883,189 additional shares. Medline sold no shares and receives no proceeds.
Positive
- Large secondary offering of 72,554,594 Class A shares completed
- Offering priced at $37.00 per share with 30-day underwriter option for 10,883,189 shares
- Company did not issue new shares, avoiding dilution from new stock creation
Negative
- Medline did not receive any proceeds from the secondary offering
- Significant block of shares sold by existing shareholders increases tradable supply in the market
News Market Reaction – MDLN
In the May 29 session, MDLN declined 0.65%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Offering Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 21 | Secondary priced | Neutral | -0.2% | Upsized secondary offering priced at $37 by selling stockholders; no proceeds to Medline. |
| May 20 | Secondary launched | Neutral | -3.4% | Launch of secondary offering covering 60M shares plus 9M option by selling holders. |
| Mar 10 | Secondary closed | Neutral | -1.2% | Closing of 86.25M-share secondary at $41 with full underwriter option exercise. |
| Mar 04 | Secondary priced | Neutral | +2.7% | Pricing of 75M-share secondary at $41 with 11.25M-share underwriter option. |
| Mar 03 | Secondary launched | Neutral | -3.2% | Launch of 75M-share secondary offering with additional 11.25M-share option by sponsors. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent secondary/registration events by selling stockholders have typically coincided with modestly negative one-day moves, suggesting consistent pressure when large blocks are sold.
Over recent months, Medline has repeatedly facilitated large resale offerings by existing holders. In March 2026, secondary offerings around $41.00 per share saw tens of millions of Class A shares sold by private equity sponsors and other investors, with Medline receiving no proceeds. Similar dynamics continued in May 2026, with new launch and pricing announcements for sizeable secondary blocks. Today’s closing of the upsized secondary fits this pattern of sponsor-driven liquidity, layered on top of an already sizable public float.
Key Terms
secondary offering financial
class a common stock financial
underwriters financial
prospectus regulatory
registration statement regulatory
securities and exchange commission regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
NORTHFIELD, Ill., May 28, 2026 (GLOBE NEWSWIRE) -- Medline Inc. (Nasdaq: MDLN) (“Medline”) announced today that it has closed its upsized secondary offering of 72,554,594 shares of Medline Inc.’s Class A common stock by certain selling stockholders affiliated with Blackstone Inc., Hellman & Friedman LLC and a wholly owned subsidiary of the Abu Dhabi Investment Authority (the “Selling Stockholders”) at a price to the public of
Medline did not sell any shares of Class A common stock in the offering and did not receive any of the proceeds from the sale.
Goldman Sachs & Co. LLC, Morgan Stanley, BofA Securities and J.P. Morgan acted as global coordinators and joint bookrunning managers. Barclays, Citigroup, Deutsche Bank Securities, Jefferies, UBS Investment Bank, Evercore ISI, BMO Capital Markets, BNP Paribas, MUFG, RBC Capital Markets, Santander, Societe Generale, TD Cowen, Wells Fargo Securities, Wolfe | Nomura Alliance, Leerink Partners, Macquarie Capital, Mizuho, Piper Sandler, Truist Securities and William Blair acted as bookrunning managers, and Blackstone Capital Markets, Carlyle, Baird, Rothschild & Co, Stifel, BTIG, ING, IMI – Intesa Sanpaolo, NCMG, Perella Weinberg, Academy Securities, AmeriVet Securities, Blaylock Van, LLC, C.L. King & Associates, Drexel Hamilton, Loop Capital Markets, Mischler Financial Group, Inc., R. Seelaus & Co., LLC, Ramirez & Co., Inc., Siebert Williams Shank and Tigress Financial Partners acted as co-managers for the offering.
The offering of these securities was made only by means of a prospectus. Copies of the prospectus relating to this offering may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at 1-866-471-2526, or by email at prospectus-ny@ny.email.gs.com; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014 or by email at prospectus@morganstanley.com; BofA Securities, Attention: Prospectus Department, NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255-0001 or by email at dg.prospectus_requests@bofa.com; and J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com.
A registration statement relating to these securities was filed with, and declared effective by, the Securities and Exchange Commission (the “SEC”). This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Medline
Medline is the largest provider of medical-surgical products and supply chain solutions serving all points of care. Through its broad product portfolio, resilient supply chain and leading clinical solutions, Medline helps healthcare providers improve their clinical, financial and operational outcomes. Headquartered in Northfield, Ill., the company employs more than 45,000 people worldwide and operates in more than 100 countries.
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements include all statements that are not historical facts. Words such as “anticipate,” “assume,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “foreseeable,” “intend,” “may,” “plan,” “potentially,” “predict,” “project,” “seek,” “should,” “will,” or “would,” or similar conditional or future expressions, are intended to identify forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements related to Medline’s industry, business strategy, costs, and cost savings, goals and expectations, market position, future operations, margins, profitability, annual guidance, and other financial and operating information. The forward-looking statements are based on management’s current expectations and are subject to various risks, uncertainties, and changes in circumstances, many of which are beyond Medline’s control, that could cause actual results to differ materially.
Although we believe that the assumptions underlying the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance or achievements. Accordingly, there are or will be important factors that may cause actual results to differ from expected results. These factors include but are not limited to those described under “Risk Factors” in Medline’s registration statement on Form S-1, as amended, relating to the offering and “Item 1A. Risk Factors” in Medline’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as filed with the SEC, as such factors may be updated from time to time in Medline’s periodic filings with the SEC. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in Medline’s filings with the SEC. Except as otherwise required by law, we disclaim any intent or obligation to update any “forward-looking statement” made in this press release to reflect changed assumptions, the occurrence of unanticipated events, or changes to future operating results over time.
Contacts:
Investor Relations:
Karen King
Global Head Investor Relations
Patrick Flaherty
Director, Investor Relations
(847) 247-7222
IR@medline.com
Media Relations:
Ben Fox
Vice President, Corporate Communications
(224) 327-9999
media@medline.com
Source: Medline Inc.
