A huge buyout deal has been reached to acquire family-owned Medline, a manufacturer and distributor of diagnostic equipment and a wide range of medical equipment and supplies, reports the Wall Street Journal

A group of private-equity firms reached a deal to acquire Medline Industries Inc. that would value the medical-supply company at more than $30 billion, in one of the largest leveraged buyouts since the financial crisis.

Medline said Saturday that Blackstone Group Inc., BX 0.22% Carlyle Group Inc. CG 1.98% and Hellman & Friedman LLC had reached a deal to take a majority stake in the company.

Based in Northfield, Ill., family-owned Medline is a little-known but major player in the field of medical equipment. It manufactures and distributes equipment and supplies used in hospitals, surgery centers, acute care and other medical facilities in more than 125 countries.

Medline’s vast array of products include surgical gowns, examination gloves and diagnostic equipment, as well as consumer-facing brands such as Curad bandages. It has some $17.5 billion in annual sales, according to the company’s website.

Read more in the Wall Street Journal