Medline Industries has publicly filed for a U.S. initial public offering that could value the medical‐supplies giant at up to $50 billion. The company reported revenue of $13.53 billion in the first half of 2025—a 9.7% increase—alongside a profit of $655 million. Backed by private‐equity firms Blackstone, Carlyle Group and Hellman & Friedman, Medline’s listing is being seen as a key test of investor appetite across large U.S. IPOs after years of dormancy.