Medline’s Blockbuster IPO–And Its Billionaire Founding Family

Medical supplies giant Medline is gearing up for a blockbuster IPO worth up to $55 billion this winter. The IPO documents recently released also shed light on the remaining stake of the Mills family, who founded the company back in 1910. The family had sold a majority stake to private equity in 2021, valuing the company at $30 billion. According to a new securities filing, the Mills family’s stake is estimated to be worth $6 billion to $7 billion. This, combined with the pretax proceeds from the earlier deal, could give the family a combined net worth of at least $20 billion.

Medline, known for its wide range of medical supplies from baby blankets to bandages, has been instrumental in supporting healthcare systems during the COVID-19 pandemic. Under private equity ownership and with a non-family CEO at the helm, the company has seen significant growth and profitability, with sales reaching $25.5 billion in 2024 and profits rebounding to $1.2 billion.

In the world of surgical robotics, Dr. Fred Moll, the co-founder of Intuitive Surgical, is making waves with his investments in next-generation medical startups. Having left the practice of medicine over four decades ago, Moll has poured around $100 million of his own funds into developing surgical robotics for a wide range of procedures. His vision is to enhance the capabilities of surgeons and improve patient outcomes through the use of AI-driven robotic systems.

Forbes has recently launched its inaugural Forbes Top Hospitals list for 2026, in collaboration with healthcare data and analytics firm Inovalon. This list aims to identify and recognize general acute care hospitals across the country that offer high-quality healthcare services. The ratings are based on unbiased, data-driven criteria to help patients make informed decisions about their healthcare providers.

In the world of healthcare deals, Freenome, a company focused on blood tests for early cancer detection, is set to go public in a SPAC deal worth $330 million. The company, which has partnerships with Roche and Exact Sciences, is expected to launch multiple tests in 2026. This move comes amidst a growing interest in blood-based tests for cancer diagnosis and treatment.

Overall, the healthcare industry continues to see significant developments and investments in cutting-edge technologies and innovative solutions. From blockbuster IPOs to advancements in surgical robotics and cancer detection, the sector is poised for further growth and transformation in the coming years.