Press release
Blackstone, Carlyle and Hellman & Friedman to Invest in Medline
Partnership to Accelerate Medline's Growth and International Expansion NORTHFIELD, Ill., June 5, 2021 /PRNewswire/ -- Medline Industries, Inc., the nation's
About this update from The Carlyle Group Inc.
[{"type":"text","content":"Partnership to Accelerate Medline's Growth and International Expansion\n\n\nNORTHFIELD, Ill., June 5, 2021 /PRNewswire/ -- Medline Industries, Inc., the nation's largest privately held manufacturer and distributor of healthcare supplies with 2020 revenue of $17.5 billion, today announced that it has entered into a definitive agreement through which it will receive a majority investment from a partnership comprised of funds managed by Blackstone, Carlyle and Hellman & Friedman. Following the close of the transaction, Medline will remain a privately held, family-led company. \n\n \n \n \n \n \n \n\n \nMedline will continue to be led by the Mills family, who will remain the largest single shareholder. The entire senior management team will stay in place. The company plans to use the new resources from the partnership to expand its product offerings, accelerate international expansion and continue to make new infrastructure investments to strengthen its global supply chain. \n\"Making healthcare run better has been our focus for decades. This investment from some of the world's most experienced and successful private investment firms will enable us to accelerate that strategy while preserving the family-led culture that is core to our success,\" said Charlie Mills, Chief Executive Officer of Medline.\nMedline partners with healthcare providers around the world, delivering products and solutions that reduce costs, increase supply chain efficiency, and improve the quality of care. The breadth of the company's product portfolio and its dedication to customer service, responsiveness, and partnership provide significant value for its customers. \nJoe Baratta, Global Head of Private Equity at Blackstone, said: \"The Mills family has built an exceptional business, and we are proud to partner with them and Medline's management to support the company's continued strong growth. Large corporate partnerships with family-led companies are an area where we have deep experience and we look forward to investing in Medline's further expansion.\"\nSteve Wise, Carlyle's Global Head of Healthcare, said: \"We are excited to partner with Medline's impressive management team to accelerate growth through continued execution, innovation, and investment. With a deep commitment to sustainable value creation, we look forward to leveraging our combined operatio...