The Medline IPO is a strong signal. Maybe we will see more Ortho PE IPOs in 2026.
I would watch for these four:
1/ Advita Ortho (fka Exactech): This is the "phoenix" rising from the assets of Exactech following its 2024 bankruptcy. It officially launched in November 2025 with a fresh balance sheet, shedding the legacy recall liabilities. It is now owned by an investor group led by Strategic Value Partners (SVP), Stellex Capital Management, and Greywolf Capital Management.
2/ Tyber Medical: Acquired in early 2025 by Montagu, which merged it with Intech and Resolve Surgical Technologies to create a massive contract manufacturing platform renamed EXALTA.
3/ Isto Biologics: A leader in regenerative medicine/biologics, recently acquired by Keensight Capital in 2025.
4/ Highridge Medical: Formed via the acquisition of spine assets (like FlareHawk) from Accelus, backed by private investors focused on the ASC market.
Medline Industries, a powerhouse in the medical supplies sector, marked a pivotal milestone by going public on December 17, 2025, in what became the largest U.S. IPO of the year. Raising $6.26 billion through an upsized offering of 216 million shares priced at $29 each, the ...
