Giant medical supplier Medline is buying a Canadian company in a deal that will help one of the Chicago area's biggest companies bulk up even more.
The business, Ontario-based Medical Mart, is a medical supplies distribution company with more than $250 million in revenue and 200 employees, according to a statement from Mundelein-based Medline. Medical Mart has facilities throughout Canada, including in Newfoundland and Nova Scotia.
“Medline's success is deeply rooted in listening to our customers and developing customized solutions,” Medline chief financial officer Kristofer Howard said in the statement. “Through this new chapter with Medical Mart, we are taking that commitment one step further.
Medline spokeswoman Stacy Rubenstein said the company would not disclose financial terms of the deal. She added that Medline has been serving the Canadian market since 2003.
The move comes as Medline prepares to move more than half of the 1,800 employees at its north suburban headquarters to the former Kraft Heinz headquarters in Northfield. Medline paid $44.7 million for the more than 70-acre property. The company has nearly 14,000 employees worldwide.
“This new relationship with Medline will bring greater access to new products, solutions and value,” Medical Mart CEO Robert West said in the statement. “We're excited to work with this family-owned industry leader who also shares in our values of integrity, reliability, excellence and quality.”
Medline is the seventh largest privately-held company in the Chicago area, with $7.30 billion in revenue in 2014, according to a Crain's list published in April 2015.
Apparently that's swelled to $8.1 billion, the statement today said. Medline offers more than 350,000 medical devices and support services in more than 90 countries.
"Giant medical supplier Medline acquires Canadian company" originally appeared in Crain's Chicago Business.