PRNewswire
Singapore, September 10: Novo Holdings, a leading global healthcare and life sciences investor, today announced a strategic minority investment in Huizhou ForYou Medical Devices Co., Ltd. ("ForYou Medical"), a China-based contract development and manufacturing organisation (CDMO) specialising in advanced wound care products. GL Capital, one of China's leading healthcare-focused private equity firms, will remain the company's majority shareholder.
The investment reflects Novo Holdings' conviction in the long-term growth of advanced wound care, increasing global demand for specialised healthcare manufacturing, and China's important role in delivering high-quality medical technologies to healthcare companies around the world.
Headquartered in Huizhou, Guangdong Province, ForYou Medical is a development and manufacturing partner with a comprehensive portfolio of advanced wound care technologies and products. Since its founding in 2005, continuous innovation has been at the core of the company's growth, driving the development of an integrated platform spanning polymer materials and biomaterial research, product development, regulatory affairs and large-scale manufacturing. Supported by this innovation ecosystem, together with deep regulatory expertise and manufacturing excellence, ForYou Medical enables customers to accelerate innovation across the entire product lifecycle – from concept development and product registration to commercial production. Today, its advanced wound care portfolio serves leading healthcare companies across Europe, North America and Asia.
Advanced wound care is a structurally growing healthcare segment, supported by ageing populations, increasing prevalence of chronic wounds and continued adoption of advanced treatment solutions. As healthcare companies increasingly partner with specialist manufacturers to accelerate innovation, broaden product portfolios and improve operational efficiency, demand for high-quality CDMO partners continues to grow.
Amit Kakar, Managing Partner and Head of Asia at Novo Holdings, said:
"China continues to strengthen its position as a global centre for healthcare innovation and advanced manufacturing. At Novo Holdings, we are committed to partnering with exceptional companies that combine strong technological capabilities with international competitiveness and long-term growth potential. ForYou Medical exemplifies these qualities, and this investment reflects our confidence in the continued evolution of China's life sciences ecosystem."
Sean He, Partner and Head of China at Novo Holdings, added:
"ForYou Medical has established itself as a trusted manufacturing partner to many leading wound care companies through its strong product capabilities, regulatory expertise and consistent focus on quality. We look forward to working alongside the management team and GL Capital to support the company's continued international growth, strengthen its innovation capabilities and help expand its global customer partnerships."
Zhenfu Li, CEO, GL Capital, said:
"Since partnering with ForYou Medical, we have worked closely with management to strengthen the company's capabilities and accelerate its growth. We are delighted to welcome Novo Holdings as a like-minded long-term investor whose global healthcare expertise and international network will further support the company's next stage of development."
Jinwen Mo, CEO, ForYou Medical, said:
"We are pleased to welcome Novo Holdings as a strategic investor. Their deep experience across the global healthcare ecosystem, long-term investment approach and international network make them an excellent partner as we continue expanding our innovation capabilities and serving customers around the world. Together with GL Capital, we look forward to building on our strong foundation and creating long-term value for our customers, employees and partners."
About ForYou Medical
Founded in 2005 and headquartered in Huizhou, Guangdong Province, China, ForYou Medical is a contract development and manufacturing organisation specialising in advanced wound care products. The company develops and manufactures a broad portfolio of advanced wound dressings, haemostatic products and bioabsorbable materials, serving healthcare companies across major international markets. ForYou Medical combines advanced manufacturing capabilities with strong regulatory expertise and a continued focus on product innovation and quality. https://en.foryoumedical.com/
About Novo Holdings
Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people's health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation. Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk and Novonesis and manages an investment portfolio with a long-term return perspective. In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure and private equity assets, Novo Holdings is a world-leading life sciences investor. As of year-end 2025, Novo Holdings had total assets of €93 billion. https://novoholdings.dk/
About GL Capital
GL Capital is an investment firm focusing on controlling-stake projects and growth-stage enterprises in China's healthcare industry. Founded in 2010 by Mr. Li Zhenfu, the former President of Novartis China, the firm manages U.S. dollar-denominated and RMB-denominated private equity funds as well as hedge funds, with total assets under management (AUM) exceeding RMB 22 billion.
GL Capital is committed to becoming the most trustworthy partner for leading enterprises in the industry, continuously delivering excellent returns to its investors, and jointly promoting the sound development of China's healthcare industry. As the world's second-largest healthcare market, China, driven by factors such as structural reforms, population aging, and improved medical conditions, provides us with a steady stream of investment opportunities. GL Capital focuses on investing in outstanding enterprises with long-term sustainable competitive advantages. We aim to collaborate with like-minded, visionary management teams to pursue excellence and create value together.
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Novo Holdings invests in ForYou Medical to support global growth in advanced wound care manufacturing
