Blackstone group nears $ 30 billion deal to buy Medline, report says
A worker from Medline Industries assembles examination gloves to be included in Personal Protective Equipment (PPE) kits to be shipped to various healthcare facilities at their warehouse in Mundelein, Illinois, the United States, Monday, October 20, 2014. Photographer: Tim Boyle / Bloomberg via Getty Images
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A group of private equity firms comprising Blackstone Group is about to enter into an agreement to purchase medical supplies manufacturer and distributor Medline Industries, The Wall Street Journal reports.
The sale could value Medline at more than $ 30 billion, people familiar with the matter told the newspaper.
Medline Industries, of Northfield, Ill., Manufactures 550,000 types of medical supplies for specialty medical facilities such as surgical centers, acute care facilities, nursing homes, hospices, and hospital laundries, according to the company website. The family business, founded in 1910 by AL Mills, today distributes in more than 125 countries.
Other companies involved in the deal include Carlyle Group and Hellman & Friedman, the Journal reported.
WSJ originally signaled Medline’s interest in a sale in April.
Contacted by CNBC, a spokesperson for Blackstone declined to comment. Representatives for Carlyle, Hellman and Medline were not immediately available.
Read the whole report in the Wall Street Journal here.