PPE Maker Medline’s Sales Eclipse $20 Billion During Pandemic’s Surge

Medical product maker Medline Industries’ income eclipsed $20 billion final yr, including greater than 230 new healthcare supplier and well being system accounts price practically $2 billion in 2021 gross sales as Covid-19 raged world wide.

The expansion is available in a historic Covid-19 pandemic for Medline, a privately held medical product maker that has grown quickly making private protecting tools in the course of the pandemic. The corporate, owned by the Mills household of the north suburban Chicago suburbs, doesn’t disclose revenue figures however stated Wednesday the corporate has had double-digit proportion development for a half century.

Medline makes all the things from masks, surgical robes and drapes to sanitizing merchandise and biohazard luggage.

“All through 2021, the Medline group remained laser-focused on supporting our clients by way of one other difficult yr and strengthening the resiliency of the healthcare provide chain,” Doug Golwas, govt vice chairman of acute care gross sales for Medline stated. “Heading into 2022, that dedication stays as we proceed to accomplice with our clients and collectively establish new methods to boost operational and medical efficiencies.”

To make certain, Medline stated it has taken extra steps to develop this yr and past, spending $1.5 billion on manufacturing, seven new U.S.-based distribution facilities and upgrades to programs as a part of its “healthcare resilience initiative.”

Medline final yr attracted a significant accomplice within the type of non-public fairness corporations led by Blackstone, Carlyle and Hellman & Friedman, which purchased a $30 billion majority stake within the family-owned medical product maker.

Medline continues to be led by the Mills household, which stays the most important single shareholder. Andy Mills is president, his cousin Charlie Mills is CEO and Andy’s brother-in-law Jim Abrams is COO.

Medline, which had $17.5 billion in income in 2020 and $13.9 billion in 2019 – the yr earlier than Covid-19 hit within the U.S. and most nations – stated the corporate opened “5 newly constructed distribution facilities in 2021, with two extra to be accomplished in 2022.”

“The most recent LEED-certified distribution middle, set to be absolutely operational in the course of the first quarter of 2022, is situated in Richmond Hill, Georgia, lower than 30 miles from the Port of Savannah,” the corporate stated. “The Richmond Hill facility will present a further 1.2 million sq. ft of house to stockpile wanted provides for buyer distribution facilities all through the area – bringing Medline’s whole medical-grade U.S. warehousing footprint to greater than 27 million sq. ft.”