What family sold MEDLINE?

The Mills family, founders of Medline, sold a majority stake (around 80%) in the company in 2021 to private equity firms (Blackstone, Carlyle, GIC) for over $30 billion, with family members like Charlie Mills, Andy Mills, and Jim Abrams retaining a significant minority stake and board presence, leading to a massive payday for the family.

What family owns Medline?

Founded in 1966, Medline remained 100% family-owned for nearly 55 years. Then in 2021, the next generation of the Mills clan sold 79% of the company to a group of private equity firms led by Blackstone and Carlye in a leveraged buyout that valued Medline at more than $30 billion.

Who bought Medline?

Medline was acquired in a majority stake deal in June 2021 by a consortium of private equity firms: Blackstone, Carlyle Group, and Hellman & Friedman, in a transaction valued at over $30 billion (around $34 billion including debt). The Mills family, who founded the company, remained the largest single shareholder and continues to lead Medline, which operates as a private, family-led entity.
 

Who is the family in Medline IPO?

Along with Medline's valuation was the value held by the company's founding Mills family, who ended the week with stock holdings worth an estimated $9.6 billion. It's not the first big payday for the family, including Andy and Charlie Mills and Jim Abrams.

Who created Medline?

Since Medline was founded by brothers Jim and Jon Mills in 1966, the company has been guided by leaders who are relentlessly focused on bettering outcomes for our customers. It's a commitment that has made us into a healthcare leader and one that continues today.

Family Business Hero: Medline

What is the history of Medline?

Medline was founded in 1966, but its roots date back 100 years when A.L. Mills started Northwestern Garment Factory. Since then, the company has grown into America's largest privately held national manufacturer and distributor of health care supplies and services.

What did Rockefeller do for medicine?

Rockefeller Sr., America's richest man and first billionaire, provided substantial financial support to conventional medical schools and institutions, his personal medical care was supervised by doctors specializing in homeopathic medicine, a completely different type and style of treatment.

Who is Medline's biggest competitor?

Medline's biggest competitors in the healthcare supply and medical device space include large distributors and manufacturers like Cardinal Health, McKesson, and Johnson & Johnson, alongside device specialists like Stryker, Medtronic, and Abbott Laboratories, who compete for market share in broad product portfolios, from surgical supplies to advanced technology. While Cardinal Health often leads in overall revenue among direct competitors, companies like Medtronic and J&J are larger by scale in the broader medtech market, with Medline often ranking among the top 3-5 largest medical device companies globally.
 

How much does CEO of Medline make?

Medline's CEO, Jim Boyle, earned approximately $4.3 million in total compensation for 2024, including salary, bonuses, and stock, according to filings when the company prepared for its IPO; however, the highest-paid executive at Medline in 2024 was actually the CHRO, Christopher Shryock, with about $5.3 million in pay. 

Does BlackRock own Medline?

(formerly Medline Industries, LP) is an American public healthcare company headquartered in Northfield, Illinois. In June 2021 it was acquired by a consortium of private equity firms Blackstone, Carlyle and Hellman & Friedman valuing the company at $34 billion in one of the largest leveraged buyouts of all time.

Who is the new CEO of Medline?

The new CEO of Medline is Jim Boyle, who took over the role in October 2023, succeeding Charlie Mills and becoming the first non-family member CEO in the company's history, with Jim Pigott also stepping in as President & COO. Boyle, a long-time Medline executive, focuses on transforming healthcare supply chains, driving innovation, and improving operational efficiency, while also leading the company through potential public offerings and industry complexities, earning recognition as one of healthcare's most influential people.
 

Is Medline being sold?

In 2021, Medline was bought by a consortium of private equity firms via a $34 billion leveraged buyout led by The Carlyle Group, Blackstone and Hellman & Friedman. Afterward, the company's founding Mills family held onto about a quarter of its ownership, serving as its single-largest shareholder.

Who was the former CEO of Medline?

Charles N. Mills. Charles N. Mills (born 1961) is an American businessman, and the chair and former chief executive of Medline Industries.

Who is the parent company of Medline?

Medline is owned by a consortium of private equity firms—Blackstone, Carlyle, and Hellman & Friedman—who acquired a majority stake in a $34 billion deal in 2021, but the founding Mills family remains the largest single shareholder, continues to lead the company, and holds a significant minority ownership. This arrangement keeps Medline a privately held, family-led company, with the Mills family members still in top leadership roles.
 

Can anyone buy from Medline?

Yes, anyone can order from Medline, but there are two main ways: individuals can buy hospital-grade products for home use from Medline at Home, while businesses, healthcare facilities, or government entities typically need to set up a B2B account for bulk or professional supplies, often requiring a sales rep or specific membership like MMCAP. 

Is Medline going to go public?

Medline Industries successfully went public with its Initial Public Offering (IPO) on December 17, 2025, becoming the largest IPO of the year, raising over $6.26 billion, and listing on the Nasdaq under the ticker symbol MDLN. After pricing at $29 per share, the stock surged, debuting at $35 and closing over 40% higher, signaling strong investor confidence in the medical supply giant. The proceeds from the IPO are being used to pay down debt and for general corporate purposes, with Medline aiming to increase its public profile as a major, though often behind-the-scenes, healthcare supplier.
 

What is St. Jude's CEO's salary?

The CEO of St. Jude Children's Research Hospital, James R. Downing, received compensation around $1.5 million to over $2.4 million in recent fiscal years, with specific figures varying by year, such as $1,851,107 for 2023 and $2,434,190 for 2024 (reported in late 2025) from reports detailing executive pay. While donation funds primarily support patient care (around 82%), these executive salaries are part of the overall compensation for leadership at the major research hospital and are published in public filings, reports St. Jude Children's Research Hospital.
 

Did Geoff Martha pay increase?

Medtronic CEO's pay jumps 16% to $23 million amid solid year and spinoff plans. Medtronic CEO Geoff Martha's pay rises 16% to $23 million as company beats expectations. Diabetes unit spinoff MiniMed set for completion by 2027.

Who are the big 3 in healthcare?

"The Big 3" in healthcare can refer to different dominant groups, most commonly the Big 3 Pharmacy Benefit Managers (PBMs): CVS Caremark, Express Scripts (Cigna), and Optum Rx (UnitedHealth), which control most U.S. prescription drug markets, or the Big 3 Drug Wholesalers: McKesson, Cencora (AmerisourceBergen), and Cardinal Health, dominating drug distribution, with a new joint effort from Amazon, JPMorgan, and Berkshire Hathaway also emerging to tackle costs.
 

What is Medtronic being accused of?

Medtronic faces accusations including illegally promoting "off-label" uses of its INFUSE Bone Graft product, paying kickbacks to doctors for favorable research and device use, violating the False Claims Act by defrauding government healthcare programs (Medicare/Medicaid), marketing defective devices (like spinal cord stimulators and embolization devices), and engaging in anti-competitive practices, with recent issues involving improper payments to VA doctors and issues with device recalls and reporting. 

What is the #1 medical device company?

The #1 medical device company by revenue is consistently ranked as Medtronic, leading with its broad portfolio in cardiology, diabetes, surgery, and neurology, followed closely by giants like Johnson & Johnson MedTech and Abbott Laboratories. These rankings are based on annual sales, with recent reports placing Medtronic at the top, regaining its position after a brief dip in 2023. 

Who owned 90% of the oil industry?

John D. Rockefeller and his Standard Oil Company owned about 90% of the U.S. oil industry (refining, production, and pipelines) by the early 1900s, forming a massive monopoly through ruthless consolidation, price control, and deals with railroads, leading to its eventual breakup by the Supreme Court in 1911 into companies like ExxonMobil and Chevron. 

What was Rockefeller's illness?

During 1891-92 all the evidence suggests that Rockefeller had a partial nervous breakdown from overwork. He lost all of his hair, including his eyebrows, and suffered from ill health in the early 1890s.