A group of privately held companies is approaching a deal to acquire Medline Industries Inc., which would value the medical supply giant more than $ 30 billion in one of the largest leverage buyouts since the financial crisis.
The deal could be concluded immediately this weekend if the talks do not fall apart, according to people familiar with the matter. The consortium – Blackstone Group Inc., Carlyle Group Inc. and Hellman & Friedman LLC – beat a competitive private equity bid from Canadian investment giant Brookfield Asset Management Inc., people said.
Including debt, the transaction will be valued at about $ 34 billion and north of $ 30 billion without borrowing, people said. This could potentially make it the largest LBO in healthcare ever.
Based in Northfield, Illinois, the family-owned Medline is a little-known but major player in medical equipment. Manufactures and distributes equipment and consumables used in hospitals, surgical centers, emergency care and other medical facilities in over 1
Medline’s wide range of products includes surgical gowns, examination gloves and diagnostic equipment, as well as consumer-oriented brands such as Curad dressings. According to the company’s website, it has annual sales of about $ 17.5 billion.