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Medix sole purpose is to find the perfect balance between instant death and being revivable. Without a wounding system you're missing out on the whole aspect of dragging wounded soldiers out of immediate danger, secure the area and hope your wounded brother hangs in there until the medical crew arrives.
This wounding system is entirely based on the players actual ingame health. That means that, if a soldier gets hit fatally he will die just like you'd expect in regular Arma. On the other hand, if the hit is non-fatal the soldier may fall unconscious.
Other soldiers(possibly the enemy?) may find you and check your pulse to see if you're alive. An enemy may take you as a POV or execute you right on the spot. But if you're lucky it's a fellow teammate willing to help you out.
Any unconscious soldier can be given emergency first aid which gives you valuable time for proper medical attention to arrive.
If the situation is dire, the helping soldier may decide to put direct pressure onto your critical wounds to give you that little extra time.
At this stage you have hopefully been dragged to a safer location, away from the line of fire. Which is crucial for the medical teams safety.
The medical team arrives and perform a long but effective medical treatment, that brings you up to your feet again.