Medical supplies giant Medline is gearing up for a blockbuster IPO this winter, with a valuation of up to $55 billion. The Mills family, who founded the company in 1910 and sold a majority stake to private equity in 2021, will retain a stake worth $6 billion to $7 billion in the IPO. The family, including former CEO Charlie Mills, former president Andy Mills, and former COO Jim Abrams, is expected to have a combined net worth of at least $20 billion post-IPO.
Medline’s essential medical supplies have been in high demand, especially during the COVID-19 pandemic, when their distribution to nursing homes, pharmacies, and hospitals played a crucial role in the response efforts. Under private equity ownership and with non-family CEO Jim Boyle at the helm, the company has seen impressive growth and profitability, with sales reaching $25.5 billion in 2024 and profits rebounding to $1.2 billion.
Meanwhile, surgical robotics legend Dr. Fred Moll, known for his role in co-founding Intuitive Surgical, is investing around $100 million in next-generation medical startups focused on robotic surgeries. Moll envisions a future where robots perform a wide range of medical procedures, leveraging AI to continuously improve their capabilities and enhance surgical outcomes.
Forbes has also launched its inaugural Top Hospitals list for 2026, in partnership with healthcare data and analytics firm Inovalon. This data-driven rating system aims to identify general acute care hospitals across the country that provide high-quality healthcare services, offering patients valuable insights while enabling hospital leaders to evaluate their performance against industry peers.
In other news, Freenome, a company developing blood tests for early cancer detection, is going public in a SPAC deal valued at $330 million. The firm, which has partnerships with Roche and Exact Sciences, is expected to launch multiple tests in 2026. This move comes amid growing interest in blood-based cancer tests, as evidenced by Abbott’s recent $21 billion acquisition of Exact Sciences.
Overall, the healthcare industry continues to see significant developments and investments in innovative technologies and treatments, with key players like Medline, Fred Moll, and Freenome driving progress and shaping the future of healthcare delivery.
