CHINA —Danish life sciences investor Novo Holdings has secured a strategic minority stake in Huizhou ForYou Medical Devices Co., Ltd., targeting the expanding international market for advanced wound care solutions. Majority shareholder GL Capital will maintain its controlling stake in the Chinese contract development and manufacturing organization (CDMO).
Founded in 2005 and based in Huizhou, Guangdong Province, ForYou Medical specializes in the research, regulatory approval, and mass production of advanced wound dressings, hemostatic products, and bioabsorbable materials. Copenhagen-headquartered Novo Holdings serves as the holding company for the Novo Nordisk Foundation and manages assets focused on long-term healthcare investment. Founded in 2010 by former Novartis China President Li Zhenfu, Beijing-based GL Capital manages over RMB 22 billion in healthcare-focused private equity funds.
This capital injection highlights the growing strategic importance of specialized healthcare manufacturing outsourcing. As global demographic shifts elevate the prevalence of chronic wounds, medical technology firms are increasingly leaning on specialized CDMO partners to manage regulatory pathways, optimize supply chains, and accelerate commercial production.
The deal reinforces China's positioning as an essential hub for high-tech medical device manufacturing and export. By leveraging Novo Holdings' global network alongside GL Capital's regional dominance, ForYou Medical aims to deepen its market footprint across Europe, North America, and Asia.
