Winner Medical Co., Ltd. has acquired 75.2% equity of Global Resources International, Inc. in a cash deal valued at approximately $120 million. The acquisition of the U.S.-based company is Winner Medical’s first international equity acquisition project and marks an important step in its global strategy, providing it with an expanded manufacturing footprint with sites in the U.S., Domincan Republic, Vietnam and China. The two parties will create significant scale and synergy effects, establishing a new benchmark for “one-stop solution for global medical consumables,” enhancing international core competitiveness and improving supply chain capabilities and resilience.
Based in Georgia, GRI was founded in 2000 and is a global medical consumables and industrial protective equipment manufacturer specialized in surgical kits, drapes, sheets, containers, surgical gowns and industrial protective clothing. In additin to its multiple production facilities worldwide, GRI has sales and logistics networks in both the U.S. and Europe. In 2023, GRI's revenue exceeded $150 million, with its main business spread across the U.S., Europe, and Asia.
GRI's production and logistics bases in the Americas and Asia will directly complement Winner Medical's production capacity, which currently includes eight facilities in China. The sites in Vietnam and Dominican Republic factories can fully leverage labor cost advantages. At the same time, Winner Medical can adapt to local market trends in the U.S. and Europe by being rooted in overseas production facilities. Winner Medical will also bring its intelligent manufacturing capabilities and digital systems to co-create sustainable new production capabilities, comprehensively improving its ability to flexibly respond to opportunities and challenges in global export markets.
GRI possesses globally leading technologies and innovations, such as the research, production, and processing capabilities for a water-soluble, degradable protective material. Winner Medical has over 30 years of independent research and development experience and holds multiple patents. Building on this, the two parties will delve deeper into material science, developing world-leading new materials to provide higher-quality products and better solutions for both domestic and international customers. This will broaden the application of innovative base materials, composite materials and functional materials in the medical and other fields. Additionally, GRI’s consumable injection-molded products will expand the company's medical consumables offerings, meeting the diversified needs of global customers and achieving a win-win for both suppliers and consumers.
This acquisition enables Winner Medical to establish a complete localized operational system and management team in the U.S., one of the largest global markets for medical consumables, covering key functions such as R&D, production, sales, logistics, and services. GRI’s founding management team has over 30 years of experience in the U.S. market, with extensive industry and management expertise in medical consumables. Winner Medical will incorporate its philosophy of “product leadership and operational excellence” into the local team to better serve global customers, including those in operating rooms and hospital wards. The acquisition also allows Winner Medical to bring cutting-edge technologies and concepts from abroad into China, significantly enhancing the company’s global competitiveness.
