Blackstone and Carlyle Acquire US Medical Supplies Company Medline via LBO Method

[Photo by Reuters-Yonhap News]

[Asia Economy Reporter Byunghee Park] A consortium including private equity firms Blackstone Group, Carlyle Group, and Hellman & Friedman is set to acquire the U.S. medical supplies company Medline, Bloomberg News reported on the 6th (local time).

The private equity consortium finalized negotiations on the 5th to acquire Medline through a leveraged buyout (LBO). An LBO is a method of acquiring a company by borrowing funds secured against the assets of the company being acquired.

The value of this acquisition deal is reported to be approximately $34 billion (about 37.7638 trillion KRW).

Medline stated that even after the equity sale, the Mills family will remain the single largest shareholder, and CEO Charlie Mills will continue to operate the company as a privately held entity.

Medline, a comprehensive medical supplies company, employs 28,000 people worldwide and recorded sales of $17.5 billion (about 19.4442 trillion KRW) last year.