Medline stockholders launch 75 million share secondary offering

Medline Inc. (NASDAQ: MDLN) announced that certain stockholders affiliated with Blackstone Inc., The Carlyle Group Inc., Hellman & Friedman LLC and a subsidiary of the Abu Dhabi Investment Authority have commenced an underwritten public offering of 75 million shares of the company's Class A common stock.

The selling stockholders filed a registration statement with the Securities and Exchange Commission for the offering and intend to grant underwriters a 30-day option to purchase up to an additional 11.25 million shares.

Medline will not sell any shares in the offering and will not receive proceeds from the sale, according to the company's statement.

Goldman Sachs & Co. LLC, Morgan Stanley, BofA Securities and J.P. Morgan are serving as global coordinators and joint bookrunning managers for the offering. Blackstone Capital Markets and Carlyle are acting as co-managers.

The medical supply company, headquartered in Northfield, Illinois, describes itself as a provider of medical-surgical products and supply chain solutions. The company employs more than 45,000 people worldwide and operates in more than 100 countries.

The registration statement has been filed with the SEC but has not yet become effective. The securities cannot be sold until the registration statement becomes effective.

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