First-of-its-kind joint venture combines the two companies' wound care portfolios to deliver a broader wound care offering in China
Commercial reach spans nearly 10,000 hospitals, 200,000 pharmacies and a powerful eCommerce set-up across China
Positioned to capture opportunities in China's fast-growing advanced wound care market

GOTHENBURG, Sweden and SHANGHAI, May 21, 2026 /PRNewswire/ -- Mölnlycke Health Care ("Mölnlycke^®"), a global leader in MedTech and advanced wound care solutions, and Zhende Medical, a leading supplier of medical care and protection in China, today announce the formation of a new joint venture company in China to accelerate growth in one of the world's fastest-growing wound care markets. The joint venture, majority-owned by Mölnlycke, will integrate the two companies' wound care portfolios and commercial capabilities to offer healthcare providers, patients and the public expanded access to advanced treatments, improved care delivery and better patient outcomes across China.

China's wound care market continues to expand, with the advanced wound dressing segment valued at approximately EUR 380 million (RMB 3 billion), driven by rising chronic disease prevalence, an ageing population and increasing demand for advanced treatment solutions.¹ As a first mover in establishing a joint venture of this kind in the Chinese wound care market, Mölnlycke and Zhende Medical see this strategic collaboration as an opportunity to help accelerate the evolution of China's wound care landscape toward more advanced standards of treatment.

By combining product strengths, distribution reach and deep clinical know-how, the joint venture -- to be named Mölnlycke Zhende (Shanghai) Medical Technology Co Ltd ("Mölnlycke Zhende") -- unites two complementary organisations with a shared ambition: to build a stronger, more competitive market access model and drive long-term growth. More specifically, it brings together:

Mölnlycke's advanced wound care portfolio, built on more than 175 years of innovation and featuring its proprietary Safetac® technology in solutions such as leading scar care dressing, Mepiform^®
Zhende Medical's advanced wound care portfolio, including an epidermal cell separator and innovative solutions for therapeutic areas such as burns and vitiligo, as well as products addressing chronic wound care needs
Established nationwide presence across 10,000 hospitals, 200,000 pharmacies and eCommerce channels in China

For Mölnlycke, the joint venture advances its localisation strategy by combining global expertise with local capabilities, accelerating access to advanced wound care solutions, more effectively addressing customer needs in China and capturing long-term growth opportunities in a rapidly evolving market.

Guillaume Joucla, Interim CEO, Mölnlycke Health Care, says, "This joint venture represents an important milestone in the growth journey of both Mölnlycke and Zhende Medical. By joining forces, we are strengthening our presence in China, expanding our wound care portfolio and significantly enhancing our go-to-market capabilities to better serve more customers and patients."

For Zhende Medical, the joint venture represents an opportunity to deepen collaboration with a global provider of premium wound care solutions and advance its product portfolio to ensure relevance and value for current and future market needs.

Dasheng Xu, Board Director, Executive Deputy General Manager and Executive President of Zhende Medical, says, "This partnership demonstrates the strength, resilience and long-term ambition of both companies. By combining our complementary capabilities and deep market knowledge, we are well positioned to meet the growing demand for advanced wound care solutions in China."

Operating as a standalone entity, Mölnlycke Zhende will be majority owned by Mölnlycke, with headquarters in Shanghai. It is expected to be operational during Q3 2026 and will initially focus on the sales and distribution of both companies' advanced wound care products, with potential to expand into co-development of products over time. Manufacturing will be supported through both companies' existing sites. The joint venture is committed to be compliant with Mölnlycke's and Zhende Medical's global sustainability commitments, setting the standard for operations and business conduct.

For more information, please contact:
Mölnlycke
Jamie Smith
Media Relations Manager
E-mail jamie.smith@molnlycke.com

Brunswick Group
E-mail molnlyckemedia@brunswickgroup.com

Zhende Medical
Wang Zhihong
Product Strategy & Branding Director
E-mail wzh@zhende.com

About Mölnlycke

Mölnlycke Health Care is a world-leading MedTech company that specialises in innovative solutions for wound care and surgical procedures. Mölnlycke products and solutions are used daily by hospitals, health care providers and patients in over 100 countries around the world. Founded in 1849, Mölnlycke is owned by Investor AB and headquartered in Sweden. www.molnlycke.com

About Zhende Medical

Established in1994, Zhende Medical Co., Ltd. a Chinese A-share listed company ("Zhende Medical", stock code: 603301.SH), is a leading supplier of medical supplies and protective equipment from China.

We make healthy life within reach. Our product lines cover various usage scenarios and provide one-stop product solutions. Currently, the products and solutions are used daily by hospitals, medical institutions and patients specialized markets such as OR, protective products, and pressure treatment.

¹ Grand View Research. China Wound Dressing Market Size & Outlook, 2023-2030. Retrieved from https://www.grandviewresearch.com/horizon/outlook/wound-dressing-market/china

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