Dr. Mundo ult... just an in-combat Warmog's heart?
That's pretty much the gist of it, not to mention Mundo's main weakness is Grievous Wounds (and being kited and lack of utility/scaling). Really hope that HE gets an update/rework soon. At least apply a new "true healing" buff. Much like how "true" damage isn't mitigated (armor mitigates phys, MR vs magic), "true healing" could perhaps be unmitigated healing (unaffected by GW/ignite). Either way, lackluster ult on a lackluster champion. Shoot make his passive scale like
. His passive just isn't unique enough anymore. If a team gets an Ocean Drake buff, they essentially have Mundo passive (albeit needs to be OoC).
Actually...I can imagine a neat mini-game with his passive called "Adrenaline Rush", where if he takes X dmg in Y seconds (burst basically), he goes berserk and gains ms+atk speed. OR he would have a "resource bar" (think
) that builds up every time he takes damage, maxed out bar = berserk mode. Perhaps give him old Maokai ult where he stores damage taken and deals it right back when resource bar is full (or just replace his ult with old Mao ult). I mean, being THE madman of Zaun, abilities called sadism, masochism and [burning] agony, it makes sense to go enraged. I know the MR stacks on E works similar to this way but at least he will have an interesting passive than just HP regen that's a weaker version of Garen's.

have healing in their kits but they bring teamfight utility, though the reason is they are Vanguards hence the Tank update. Maybe I just don't know what Mundo's role is lol. Many tanks do % health damage, max hp vs Mundo's current hp % but just not as spammable, unless you're shen ;) I'm no Mundo expert but that's my 2 cents
/
work like
does, only applying GW when below a certain health threshold.