A group of private-equity firms is nearing an offer to acquire Medline Industries Inc. that would value the medical-supply giant at more than $30 billion, in among the biggest leveraged buyouts given that the monetary crisis.
The deal might come together as quickly as this weekend assuming the talks do not fall apart, according to individuals knowledgeable about the matter. The consortium– Blackstone Group Inc., Carlyle Group Inc. and Hellman & & Friedman LLC– beat out a rival quote from the private-equity arm of Canadian investing giant Brookfield Asset Management Inc., the individuals said.
Consisting of financial obligation, the deal would be valued at about $34 billion, and north of $30 billion excluding borrowings, individuals stated. That could possibly make it the largest health care LBO ever.
Based in Northfield, Ill., family-owned Medline is a obscure but significant player in the field of medical devices. It makes and disperses devices and supplies used in hospitals, surgical treatment centers, acute-care and other medical centers in over 125 nations.
Medlines huge array of products consist of surgical gowns, assessment gloves and diagnostic devices, in addition to consumer-facing brand names such as Curad bandages. It has some $17.5 billion in annual sales, according to the companys site.