Medical device investors know the big names: Philips Healthcare, Johnson & Johnson (NYSE:JNJ), Medtronic (NYSE:MDT), GE Healthcare (NYSE:GE) and Siemens (OTC:SIEGY). Many of these major manufacturers are based in the United States, while a few operate out of Europe. But another continent away, more companies are at work on potentially groundbreaking medical devices.
Today, we look at some medical device manufacturers trading on the ASX. These companies are engaged in a wide range of compelling research around everything from respiratory devices and inflatable tissue to disappearing stents.
As every investor knows, it’s critical to study what’s going on in the market as a whole before making any decisions, regardless of the exchange you’re trading on. With that in mind, we’re taking a look at a few ASX medical device stocks you may not have heard of before. Read on!
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REVA Medical (ASX:RVA)
Market cap: AUD$429.9 million
Have you heard of stents? These are temporary supports placed inside blood vessels or ducts when an obstruction is present. They’ve been around for a while … but bioresorbable ones? That’s a new thing.
Called “scaffolds,” these are temporary stents that the body naturally eliminates over time. They’re what Reva Medical is focused on.
Nanosonics (ASX:NAN)
Market cap: AUD$905.11 million
Nanosonics works in the infection control market, developing devices meant to protect patients from getting an infection while receiving medical care for another condition. Healthcare Acquired Infections are actually the fourth largest cause of fatalities in the United States—so there would seem to be significant need for these sorts of products.
ImpediMed (ASX:IPD)
Market cap: AUD$300.01 million
ImpediMed used bioimpedance technology—in other words, their products send an electric current through the body. The goal? To measure a patient’s fat mass and fluid levels, statistics which can be very useful in a clinical setting. ImpediMed’s L-Dex U400, for example, can be used to detect early signs of lymphedema.
AirXpanders (ASX:AXP)
Market cap: AUD$235.24 million
AirXpanders has developed the AeroForm tissue expander, which is used in breast reconstruction post-mastectomy. It’s needle-free and wireless—in fact, the patient can use it independently, and in her own home. The company believes the product offers a superior approach to saline implants, which can involve painful surgery and take longer to recover from.
SomnoMed (ASX:SOM)
Market cap: AUD$209.76 million
SomnoMed calls itself “the worldwide leader in Continuous Open Airway Therapy.” To back up that claim, the company has operations in Asia, North America and Europe—and of course, in Australia as well!
Their primary product, the SomnoDent COAT device, treats sleep apnea by moving the lower jaw forward during sleep. SomnoMed also has products designed to prevent teeth grinding and treat bruxism.
Cochlear (ASX:COH)
Market cap: $AUD7.31 billion
The last company on our list is also the biggest of the five, at least in terms of market cap. As Cochlear’s name suggests, they’re in the business of making cochlear implants, miniature devices that can help deaf people to hear.
In June 2016, Cochlear introduced two new bone conduction sound processors, the Baha 5 Power and Baha 5 SuperPower, to Europe, the United States, Australia and New Zealand.
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Securities Disclosure: I, Chelsea Pratt, hold no direct investment interest in any company mentioned in this article.
“Could the continued issues with cybersecurity ruin the medical device industry?”
Find out what this trend means for investors in an exclusive INN guide to medical device investing – Download now for FREE
Get My Free Report
Click here to download for free
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