Medline (MDLN) Registration Filing summary

Company overview and business model

• Largest provider of medical-surgical products and supply chain solutions, serving all points of care globally.

• Offers ~335,000 products through two segments: Medline Brand and Supply Chain Solutions.

• Operates 30 manufacturing facilities and 70 distribution centers, with next-day delivery to 95% of U.S. customers.

• Prime Vendor model drives long-term customer relationships and high retention rates above 98%.

• Integrated business model combines manufacturing, distribution, and logistics for recurring revenue and cost efficiencies.

Financial performance and metrics

• Net sales for 2025: $28.4 billion; net income: $1.2 billion; Adjusted EBITDA: $3.5 billion.

• Net income margin: 4.1%; Adjusted EBITDA margin: 12.2%.

• 50+ years of consecutive annual net sales growth at an 18% CAGR since 1966.

• Medline Brand segment generated 48.3% of net sales and 80.6% of Segment Adjusted EBITDA in 2025.

• Supply Chain Solutions segment accounted for 51.7% of net sales and 19.4% of Segment Adjusted EBITDA.

Use of proceeds and capital allocation

• No proceeds will be received by the company from the sale of shares; all proceeds go to selling stockholders.

• IPO proceeds previously used to repay debt and for general corporate purposes.