Winner Medical

What Winner Medical does

Winner Medical Co., Ltd. (Shenzhen, founded 1991, ticker 300888.SZ since September 2020) is an integrated Chinese medical and consumer healthcare manufacturer built around a fully controlled cotton industrial chain — from raw cotton procurement through spinning, weaving, and finished disposables. The company's core technology platforms are proprietary PurCotton spunlace non-woven fabric (patented in 30+ countries since 2005), medical-grade hydrophilic polyurethane foam (first stable mass production in China), and a complete silicone coating and perforation line. Its 12,000+ employees and 30 subsidiaries operate GMP-compliant manufacturing in China with a new USD 60M Vietnam base under construction for 2027 production.

Its commercial portfolio spans three brands and four major solution sets. The Winner Medical brand delivers advanced wound care (foam, silicone, gelling fiber, antimicrobial dressings), surgical gowns and drapes (SMMS and PurCotton variants), and OR procedure packs to hospitals and surgical centers. The Purcotton and PureH2B consumer lines sell 100% cotton personal care items (facial masks, wipes, cotton pads, adult diapers under QINGFULI) through retail and pharmacy channels. Sub-brand Dimora Medical runs a direct Amazon marketplace presence targeting consumers in the wound-care category. Products are CE- and ISO 13485-certified and span AAMI PB70, EN 13795, ASTM F1671, EN 14126, and multiple Chinese YY standards, allowing export to 110+ countries.

Revenue is generated primarily through multi-year B2B contracts to hospitals, pharmacies, and healthcare institutions via direct sales, regional distributors, six localized e-commerce sites, and recurring participation in MEDICA, EWMA, Arab Health, and IWII trade shows. An aggressive M&A program — Zhejiang Longterm Medical (55%, $108.2M, 2022), Pingan Medical (65.55%, $97.3M, 2022), Guilin Latex (100%), and U.S.-based Global Resources International (75.2%, $120M, late 2024) — has expanded advanced wound care, injection products, latex supply, and U.S. distribution. Pricing is quote-based with no public list pricing, and customer mix is distributed across B2B institutions, distributors, and a smaller but growing consumer channel.

Name

Winner Medical

Legal name

Winner Medical Co., Ltd.

Website

https://winnermedical.com

Company type

Public

Founded year

1991

Operating status

Operating

Headcount range

51–100 employees

Short description

Winner Medical is a Shenzhen-based, vertically integrated Chinese manufacturer of cotton-based medical dressings, advanced wound care, surgical disposables, and consumer healthcare products, serving hospitals, pharmacies, and consumers across 110+ countries through B2B sales, distributors, and e-commerce.

Ownership category

akta.pro rank

Product category

Medical Disposables

NAICS

Surgical Appliance and Supplies Manufacturing (339113), Medical Equipment and Supplies Manufacturing (3391), Apparel Accessories and Other Apparel Manufacturing (31599)

SIC

Surgical & Medical Instruments & Apparatus (3841), Wholesale-Medical, Dental & Hospital Equipment & Supplies (5047), Apparel & Other Finishd Prods Of Fabrics & Similar Matl (2300)

akta.pro primary industry

Medical & Hygiene Technical Textiles (Gauze/Drapes/Wipes/Barrier Fabrics) (IMAOADAD)

akta.pro secondary industries

Medical & Healthcare Hygiene Disposables (Patient Wipes, Underpads) (IMAMAGAF), Protective Disposable Wear (Masks, Gloves, Shoe Covers, Hairnets) (CRADALAJ), Disposable Protective Apparel (Coveralls, Gowns, Shoe Covers) (CRAAALAM)

Keywords

• Medical disposables
• Wound care dressings
• Surgical consumables
• Cotton non-woven fabrics
• Personal protective equipment

Headquarters

HQ city

Shenzhen

HQ country

China

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Medical Disposables (Medical Segment): Winner Medical generates primary revenue through the sale of medical consumables and disposables including surgical gowns, wound care dressings (foam, silicone, gelling fiber), surgical drapes, isolation gowns, masks, gloves, and infection prevention products. Both CE and ISO 13485 certified, serving hospitals, pharmacies, and healthcare institutions globally.
2. Consumer/Personal Care Products (Consumer Segment): Revenue is also generated from consumer products under brands such as Purcotton (cotton-based personal care: cotton pads, facial masks, wet wipes, adult diapers) and PureH2B. The consumer segment is distributed through both medical/pharmacy channels and direct-to-consumer retail.
3. Strategic Acquisitions and Market Expansion: The company has pursued growth through acquisitions (Pingan Medical, Zhejiang Longterm Medical, Global Resources International/GRI, Guilin Latex) which expand product lines, manufacturing capabilities, and market reach, contributing to overall revenue growth through expanded portfolio and distribution.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels5 records

Core offering

Winner Medical manufactures and markets cotton-based medical dressings and medical disposables, including advanced wound care dressings (foam, silicone, gelling fiber, antimicrobial), surgical consumables (gowns, drapes, procedure packs), and personal protective equipment (masks, isolation gowns, gloves). The company also produces consumer personal care products under the Purcotton and PureH2B brands, leveraging its proprietary PurCotton spunlace non-woven fabric technology and integrated industrial chain from raw cotton to finished medical products.

Product overview

Winner Medical is a comprehensive medical and consumer healthcare company that manufactures and distributes medical disposables and supplies. The company operates three major brands: Winner Medical (medical sector), Purcotton (consumer cotton products), and PureH2B. The product portfolio centers around medical disposables including wound care solutions (foam dressings, gelling fiber dressings, silicone products, antimicrobial dressings), operating room solutions (surgical gowns, drapes, procedure packs), and home care solutions (bandages, skin protectants, incontinence products). The company holds both CE and ISO 13485 certifications and sells products in over 110 countries. Manufacturing includes a patented PurCotton cotton spunlace non-woven fabric technology, medical-grade foam production, and silicone coating and perforation capabilities.

Differentiator

Problem solved

Functional benefit

Brands

• Purcotton: Premium cotton-based products using proprietary cotton spunlace non-woven fabric technology, serving both medical and consumer markets
• PureH2B
• Dimora Medical
• QINGFULI

Products and services

• Foam Dressings

Quantifiable outcome

• PurCotton technology reduces production time from 1-2 months (traditional) to 2-3 days, significantly reducing energy consumption and carbon emissions
• +2 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Global Resources International, Inc. (GRI)coreStrategic or Co-development Partner · 15 December 2025Winner Medical acquired a 75.2% stake in U.S.-based Global Resources International, Inc. for USD 120 million to improve its global supply chain for medical consumables. This acquisition strengthens Winner Medical's international supply chain capabilities and provides access to the U.S. market.
• Pingan MedicalcoreStrategic or Co-development Partner · 2 June 2022Winner Medical acquired a 65.55% stake in Pingan Medical for US$97.3 million to expand its medical supply product line and core capabilities, including injection products. The acquisition aims to diversify offerings and strengthen domestic market presence.
• Zhejiang Longterm MedicalcoreStrategic or Co-development Partner · 30 May 2022Winner Medical acquired a 55% stake in Zhejiang Longterm Medical for US$108.2 million as part of its strategy to lead the advanced wound care market in China and globally, leveraging synergies in market channels, R&D, and manufacturing.
• Dupont (China)minorStrategic or Co-development Partner · 1 January 2021Winner Medical and Dupont (China) reached strategic cooperation, announced in conjunction with CIIE (China International Import Expo), indicating a partnership for technology collaboration or joint market development.
• Guilin LatexcoreStrategic or Co-development PartnerWinner Medical acquired 100% stake in Guilin Latex, expanding into the medical latex market. This acquisition provides backward integration into latex raw material supply for medical gloves and other latex-based medical products.
• UnicsMedminorStrategic or Co-development PartnerWinner Medical and UnicsMed co-exhibited at the MONASH International Wound Conference 2024, indicating a collaborative partnership in wound care product promotion and market development.

Scale indicators8 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Cardinal Health: U.S. healthcare services and medical product distributor with significant medical consumables and surgical product lines. Comparable to Winner Medical in wholesale distribution of medical dressings, surgical gowns, drapes, and PPE to U.S. hospitals and pharmacy chains.
• Medline Industries: Privately held U.S. medical supplies manufacturer and distributor with broad portfolio in surgical gowns, drapes, wound care, exam gloves, and PPE. Comparable to Winner Medical across surgical consumables, PPE, and wound care; the U.S. medical supply scale leader with which Winner competes in tenders.
• 3M Health Care: U.S. diversified conglomerate with a major Health Care division spanning wound care, surgical supplies, oral care, and infection prevention. A broad incumbent comparable to Winner Medical in advanced wound dressings, surgical drapes, and sterilization products; significant scale and global brand recognition.
• Owens & Minor: U.S. medical supply distribution and product company (including legacy Halyard Health surgical gowns, drapes, and PPE). Comparable to Winner Medical in OR/surgical consumables and wound care; an established incumbent in U.S. hospital supply channels where Winner is positioning via the GRI acquisition.
• Smith+Nephew: UK-listed global medical technology company with significant Advanced Wound Management and Sports Medicine franchises. A broad incumbent comparable to Winner Medical's wound care and surgical portfolios, with deeper clinical evidence and global hospital reach.

Direct peers

• Ansell: Australia-listed global leader in surgical and examination gloves and protective apparel. Comparable to Winner Medical's surgical glove, surgical gown, and isolation gown segments, with overlapping hospital and industrial safety customers.
• Mölnlycke Health Care: Swedish global leader in wound care (Mepilex foam/silicicone dressings) and surgical single-use solutions. Closely comparable to Winner Medical in advanced wound dressings, surgical drapes and gowns, and proprietary foam/silicone technology platforms serving hospitals worldwide.
• Paul Hartmann AG: German medical and hygiene products manufacturer with strong wound care, incontinence, and surgical/OR consumables businesses. Directly comparable to Winner Medical in cotton-based wound dressings, OR drapes, surgical gowns, and consumer hygiene products.
• Coloplast: Danish medical device company with strong wound care and ostomy/incontinence franchises. Comparable to Winner Medical in advanced wound dressings, skin care, and personal consumer care (ostomy, continence care), with similar B2B hospital sales motions and direct-to-consumer brand.
• ConvaTec: UK-listed medical products company focused on advanced wound care, ostomy, continence, and infusion devices. Directly comparable to Winner Medical in foam and gelling fiber wound dressings, and a peer of the acquired Zhejiang Longterm Medical franchise in advanced wound care.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks2 records

Key highlights7 records

Customer concentration

• Xtwitter.com/WinnerMedical
• YouTubeyoutube.com/channel/UCzJdXrA8hD_5tLnCLII6NQA
• LinkedInlinkedin.com/company/winner-medical

Compliance15 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Winner Medical