(Reuters) -Medline Industries is considering an initial public offering that could fetch a valuation of $50 billion for the medical supplies company, Bloomberg News reported on Tuesday.
The company and its private equity owners are already in early-stage talks with banks regarding a potential listing as soon as the spring of 2025, the report said, citing people familiar with the matter.
Medline did not immediately respond to a Reuters request for comment.
The U.S. IPO market has shown signs of a rebound in 2024, after two sub-par years fueled by high interest rates.
However, investor reception has been mixed toward new offerings. Shares of healthcare payments company Waystar, which debuted on Nasdaq last month, are trading above their IPO price while shares of Chinese electric-vehicle maker have slipped below their offer price.
Blackstone (NYSE:BX), Carlyle Group (NASDAQ:CG) and Hellman & Friedman agreed to buy a majority stake in Medline in 2021, valuing the company at $30 billion excluding debt.
Blackstone and Carlyle did not immediately respond to Reuters requests for comment, while Hellman declined to comment.
Northfield, Illinois-based Medline is one of the largest privately held manufacturers and distributors of medical supplies such as surgical equipment, gloves, and laboratory devices used by hospitals around the world.