GL Capital Group (“GL Capital”), a leading healthcare-focused private equity firm, and Huizhou Foryou Medical Devices Co., Ltd (“Foryou Medical” or “the Company”) have signed an agreement for a GL Capital-led consortium to acquire a majority stake in Foryou Medical. Founded in 2005, Foryou Medical is a leading advanced wound care CDMO (Contract Development and Manufacturing Organisation) in China, specialising in developing, manufacturing and commercialisation of advanced wound care dressing products for the management of chronic and acute wounds. GL Capital will work with the current CEO, Jinwen Mo, and the Foryou Medical team to continue to build on the growth of the Company’s existing service offerings.

Foryou Medical has established one of the most comprehensive product lines in the advanced wound care market, featuring advanced medical dressings such as silicone, alginate, fibre, foam, and hydrogel, as well as polymeric haemostatic products and absorbable biomaterials. The company’s comprehensive product coverage, superior product quality and robust regulatory capabilities form the strong foundation to serve a range of top-tier global clients.

This transaction marks GL Capital’s first foray into investing in the attractive global advanced wound care market, which has strong underlying growth drivers from the ageing population and the rising disease burden. Moreover, the Chinese advanced wound care market is predicted to grow substantially in the coming years due to the increasing awareness and penetration of advanced wound care products.

“We are very excited to support Foryou Medical in its next phase of growth and work alongside the Foryou Medical team to deliver unparalleled products and services to its esteemed global clients,” states Jeffrey Li, Founding Partner at GL Capital. "We will leverage our value creation capabilities and global network to help Foryou Medical maintain its rapid growth and execute its vision."

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