Latham & Watkins Advises on Medline’s Upsized Landmark US$7.2 Billion IPO

Medline Inc. (Nasdaq: MDLN), the largest provider of medical surgical products and supply chain solutions serving all points of care, closed on December 18, 2025 its upsized initial public offering of 248,439,654 shares of its Class A common stock at a public offering price of US$29 per share, including the full exercise by the underwriters of their option to purchase up to an additional 32,405,172 shares of Class A common stock. The shares began trading on the Nasdaq Global Select Market on December 17, 2025, under the symbol “MDLN.” The historic IPO represents the largest US and global IPO of 2025 (Capital IQ), the largest-ever sponsor-backed IPO, and the largest-ever healthcare IPO (Deal Point Data).

Latham & Watkins LLP represents the underwriters in the offering with a Capital Markets team led by partners Jason Licht, Patrick Shannon, and Cathy Birkeland and counsel Christopher Cronin, with associates Ben Winnett, Chelsea Carlson, Caroline Hughes, and Janani Hariharan. Advice was also provided on benefits matters by partner David Della Rocca and counsel Marysia Mullen, with associate Ellie Graham; on tax matters by partner Andrea Ramezan-Jackson, with associates Christina McLeod and Nolon Blaylock; on FDA regulatory matters by partners Ben Haas and Jennifer Bragg and counsel Amy Speros, with associate Hannah Chi; on ex-US regulatory matters by partner Eveline Van Keymeulen, with associate Jeanne Fabre; on healthcare regulatory matters by partners Jason Caron and Betty Pang, with associates Chad Leiper and Claire Jensen; on data privacy and cybersecurity matters by partner Heather Deixler; on intellectual property matters by counsel Kieran Dickinson, with associate Caroline Toman Lammon; on environmental matters by partner Joshua Marnitz, with associate Nolan Fargo; on compliance matters by counsels Ruchi Gill and Katherine Sawyer, with associates Faiza Hasan and Monica Calce; on FINRA and regulatory matters by partner Gail Neely and corporate attorney Marta Talarek; and on securities laws matters by partners Alex Cohen and Joel Trotter.