Updated
The most significant concentration Medline discloses is Vizient Supply, HealthTrust Purchasing Group, and Premier Healthcare Alliance (GPOs) at 69%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Medline’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
“10-K Item 1A: 'approximately $19.7 billion (or 69% of consolidated net sales ... contract with our largest GPOs: Vizient Supply, LLC, HealthTrust Purchasing Group, L.P., and Premier Healthcare Alliance, L.P.'”
“10-K Item 1A: 'our top five U.S. customers represented approximately $3.2 billion (or 11.3%) of our net sales'”
The company's concentration profile is dominated by its group purchasing organization channel. Approximately $19.7 billion, or 69% of consolidated net sales, flowed through contracts with the largest GPOs — specifically Vizient Supply, HealthTrust Purchasing Group, and Premier Healthcare Alliance — a high-share exposure with a dependency character. GPO relationships are governed by formal contracts whose terms can be renegotiated, and concentration across three large purchasing organizations means that a pricing or contractual change at even one of those counterparties would affect a meaningful share of net sales. At the individual customer level within the broader book, the top five U.S. customers represented approximately $3.2 billion, or approximately 11.3% of net sales — a small-share exposure. The contrast between the high-share GPO concentration and the small-share direct-customer concentration illustrates that the primary dependency is channeled through intermediary purchasing organizations rather than concentrated end-use customers; individual hospital or health system accounts are relatively diffuse below the GPO layer. Together, the profile points to GPO channel risk as the central concentration. Because the GPO contracts aggregate hospital purchasing power, a renegotiation or exit from one of the three named programs could affect the broader contract base rather than a single hospital. Investors should monitor the terms and tenure of agreements with Vizient Supply, HealthTrust Purchasing Group, and Premier Healthcare Alliance as the primary variable in this concentration.
For the engine’s reasoning on MDLN’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| BAX | Baxter International Inc. | 1 | 2 | 0 | 3 |
| ATR | AptarGroup, Inc. | 1 | 1 | 0 | 2 |
| BDX | Becton, Dickinson and Company | 1 | 1 | 0 | 2 |
| MDLN● | Medline Inc. | 1 | 0 | 1 | 2 |
| ALGN | Align Technology, Inc. | 1 | 0 | 0 | 1 |
| AVTR | Avantor, Inc. | 1 | 0 | 0 | 1 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.