Winner Medical Acquires 100% Stake in Guilin Latex, Expanding into Medical Latex Market
SHENZHEN, China, July 5, 2022 /PRNewswire/ -- Winner Medical Co. Ltd. (300888.SZ; "Winner Medical" and "the Company"), a leading manufacturer of disposable wound care and surgical products, held an inauguration ceremony for Winner (Guilin) Latex Products Co., Ltd in Guilin, Guangxi Province on June 29, 2022, following its acquisition of a 100% stake in Guilin Zizhu Latex Products Co., Ltd ("Guilin Latex") for 450 million yuan (approx. US$ 67.15 million) on June 6.
Guilin Latex is an expert in the research and development, manufacturing, and marketing of latex products. Its three main products include Gobon condoms, Gobon Disposable Sterile Latex Surgical Gloves, and Gobon Disposable Latex Medical Examination Gloves. The company had a net profit of about 50.85 million yuan (approx. US$ 7.59 million) in 2021 on sales of about 320 million yuan (approx. US$ 47.76 million). The domestic market accounts for about 90% of its sales, with pharmacies and hospitals as its primary clients.
The acquisition creates complementary synergies between Guilin Latex and Winner Medical in terms of domestic sales channels, as Guilin Latex serves roughly 1,500 hospitals and 23,000 pharmacies, whilst Winner Medical serves over 4,000 hospitals and 120,000 pharmacies and has over 9 million followers on social media. Through the acquisition, Winner Medical, by expanding into the medical latex market, is on track to become one of the Chinese most comprehensive suppliers of general-purpose medical consumables and a one-stop solution provider for the full range of such consumables.
In addition, Winner Medical will also expand Guilin Latex's production capacity, boost production value, and build efficient, eco-friendly, and intelligent manufacturing facilities while enhancing its combined advantages in branding, channels, and products.
This marks the third acquisition for Winner Medical this year. Following its acquisition of a 55% stake in Longterm Medical in April and a majority stake acquisition in Pingan Medical in mid-May. In line with Winner Medical's mission to become a one-stop solution provider of medical consumables, the series of acquisitions once again highlights the Company's commitment to specialization, product enhancement, differentiation and innovation.
Winner Medical pays much attention to the innovation in technology and R&D capabilities of the companies which it targets for investment, with capabilities at product innovation as one of the most important considerations. To create greater value for both its customers and the medical community, the Company has taken proactive actions in boosting the growth of the medical consumables market.
For more information, please visit: https://www.winnermedical.com/
SOURCE Winner Medical
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