Medline Inc. (MDLN): First Take: Additional Distribution Capacity Secured in Northern California

Research evidence excerpt

Medline Inc. (MDLN): First Take: Additional Distribution Capacity Secured in Northern California

Equity Research

6 July 2026 | 8:42AM PDT

Medline Inc. (MDLN): First Take: Additional Distribution Capacity

Secured in Northern California

This morning, Medline announced additional distribution capacity in Northern David Roman

+1(212)357-4617 |

California. Specifically, Medline signed lease agreements for two major distribution david.roman@gs.com

Goldman Sachs & Co. LLC

facilities in Northern California totaling more than 1.6 million square feet.

Jamie Perse, CFA

+1(212)902-8192 | jamie.perse@gs.com

This update comes less than a month after a fire destroyed the 1 million-square-foot Goldman Sachs & Co. LLC

Tracy, California distribution center. We are encouraged by the rapid response time, Philip Coover

the fact that Medline has more than replaced the lost distribution capacity and has +1(917)343-8573philip.coover@gs.com|

now created additional capacity compared to pre-fire levels, and that the larger Goldman Sachs & Co. LLC

Jenny Rabinowitzfacility will be functional in the coming months. +1(212)855-0819 |

jenny.rabinowitz@gs.com

This announcement reinforces Medline’s continuous and proactive investment Goldman Sachs & Co. LLC

Marco Espaillatstrategy. Rather than simply restoring the destroyed facility, management is +1(212)902-6790 |

increasing investment to meet demand in the region. This is evidenced by the marco.espaillat@gs.comGoldman Sachs & Co. LLC

commitment for California state-wide distribution center footprint to reach nearly 5

million square feet by mid-2027.

In our view, this differentiated level of investment is what has enabled Medline’s

strong customer retention, market share capture, and organic growth over the

long-term.