Holland & Knight represented Global Resources International, Inc. (GRI), a Georgia-based global medical consumables and industrial protective equipment company, in connection with a transaction in which Winner Medical Co., Ltd., a publicly-traded leading manufacturer of disposable medical products based in China, acquired a 75.2 percent ownership interest in the GRI business. The net equity value of the transaction, which closed on September 20, was approximately $120 million.
The transaction represents Winner Medical’s first international equity acquisition project and marks an important step in its global strategy. 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. The acquisition will strengthen global production and logistics, expand product lines, enhance research and development innovation, and establish operational structures in the United States and Europe for the combined enterprise.
GRI’s products include surgical kits, drapes, sheets, containers, surgical gowns and industrial protective clothing.
Winner Medical is the leading manufacturer of disposable medical products, including wound care and surgical supplies, in China.
The Holland & Knight team for the GRI transaction was led by Partner Roddy Bailey. He was assisted by Partner Matt Bryson and Associates Davidson Lentz, Carson Heyer, Abigail Page and Jared Adams. Partner Robert A. Friedman and Senior Counsel Cynthia Liu provided guidance on the CFIUS aspects of the deal, and Associate Mark Lennon provided counsel on executive compensation aspects of the deal.
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