Medline’s Blockbuster IPO–And Its Billionaire Founding Family

In this week’s edition of InnovationRx, Medline’s blockbuster IPO, Fred Moll’s surgical robotics investments, Forbes’ inaugural top hospitals list, and more.

Medical supplies giant Medline’s IPO is set to be this winter’s blockbuster–worth up to $55 billion. Documents for it also reveal for the first time the remaining stake of the Mills family, who founded the company in 1910 and ran it for generations. The family sold a majority stake to private equity in 2021 in a deal that valued the company at $30 billion.

A new securities filing shows that the Mills family’s stake is worth $6 billion to $7 billion, by Forbes estimates based on the disclosed shareholdings of Mozart HoldCo and an expected share...