Winner Medical pronounces it’ll purchase a 55% stake in Zhejiang Longterm Medical for US$108.2 million
SHENZHEN, China, May 31, 2022 /PRNewswire/ — To 10th of April Winner Medical announced that it has entered into a definitive agreement to acquire a 55% stake in Zhejiang Longterm Medical Technology Co., Ltd. signed for the United States $108.2 million.
Winner Medical believes the acquisition is in line with the company’s strategy to become an industry leader in the advanced wound care market. Winner Medical and Longterm Medical will benefit from economies of scale and synergies in terms of domestic and international customer base, market channels, products, R&D and manufacturing.
Winner Medical announces it will acquire 55% stake in Zhejiang Longterm Medical for US$108.2 million (PRNewsphoto/Winner Medical Co., Ltd.)
Longterm Medical develops, manufactures and sells advanced wound care products and is a leader in the advanced wound care industry China. In 2021, Longterm Medical generated total sales exceeding US $52 millionto which revenue from advanced wound care and ostomy products contributed more than in the US $41.6 million.
It has been 10 years since Longterm Medical was founded. while Winner Medical has a 31-year history. Through post-acquisition integration and synergy generation, the two companies are expected to gain greater overall market share and higher revenue growth.
In terms of domestic sales channels, Longterm Medical serves more than 600 hospitals and Winner Medical covers more than 4,000 hospitals China. The two companies will work closely together to offer comprehensive services from a single source and aim to become the first choice for doctors, nurses and patients. In addition, Winner Medical will also work with Longterm Medical to develop home health care solutions for patients and consumers.
Global advanced wound care is a significant and growing market segment while domestic industry concentration is expected to increase. According to the BIS Research Report, the global market for advanced wound care is reached in the USA $5.85 billion in 2020 and is expected to reach the US $7.23 billion in 2027. Both Winner Medical and Longterm Medical are leaders in China Advanced Wound Care Dressings market, this acquisition will foster the complementary advantages of both parties’ global medical business, further strengthening Winner as a leader in advanced wound care while core value is to leverage technology to improve clinical outcomes and health economics, and collectively, a more comprehensive solution to improve the lives of patients worldwide.
For more information, visit: https://www.winnermedical.com/
SOURCE Winner Medical Co., Ltd.