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HomeHealthBlackstone group nears a $30 billion deal to buy Medline, report says

Blackstone group nears a $30 billion deal to buy Medline, report says



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A worker at Medline Industries gathers exam gloves to include into Personal Protection Equipment (PPE) kits to be shipped out to various health facilities at their warehouse in Mundelein, Illinois, U.S., on Monday, Oct. 20, 2014. Photographer: Tim Boyle/Bloomberg via Getty ImagesBloomberg | Bloomberg | Getty ImagesA group of private equity firms including Blackstone Group is nearing a deal to purchase medical supply manufacturer and distributor Medline Industries, The Wall Street Journal reports.The sale could value Medline at more than $30 billion, people familiar with the matter told the paper. Medline Industries, of Northfield, Illinois, makes 550,000 types of medical supplies for specialty medical facilities such as surgery centers, acute care facilities, nursing facilities, hospice care centers and hospital laundries, according to the company’s website. The family-owned company, which was founded in 1910 by A.L. Mills, now distributes to more than 125 countries.Other firms involved in the deal include Carlyle Group and Hellman & Friedman, the Journal reported.WSJ originally reported on Medline’s interest in a sale in April.When reached by CNBC, a Blackstone spokesperson declined to comment. Representatives from Carlyle, Hellman and Medline weren’t immediately available. Read the full report in The Wall Street Journal here.


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