The Blackstone Group is nearing a $ 30 billion deal to purchase Medline, a report stated

A Medline Industries employee collects examination gloves to be included in personal protective equipment (PPE) kits that will be shipped to various healthcare facilities at their warehouse in Mundelein, Ill., On Monday, October 20, 2014. Bloomberg via Getty Images

Bloomberg | Bloomberg | Getty Images

A group of private equity firms, including the Blackstone Group, are on the verge of a deal to buy medical device manufacturer and distributor Medline Industries, the Wall Street Journal reports.

The sale could be worth more than $ 30 billion for Medline, people familiar with the matter told the newspaper.

Medline Industries of Northfield, Illinois, manufactures 550,000 types of medical supplies for specialty medical facilities such as surgical centers, acute care facilities, nursing homes, hospice centers, and hospital laundries, according to the company’s website. Founded in 1910 by AL Mills, the family business now sells in more than 125 countries.

Other firms involved in the transaction are Carlyle Group and Hellman & Friedman, the Journal reported.

WSJ originally reported Medline’s interest in an April sale.

When CNBC reached him, a Blackstone spokesman declined to comment. Carlyle, Hellman, and Medline representatives were not immediately available.

Read the full report in the Wall Street Journal here.

You might also like

Comments are closed.