Although healthcare shares such as Monash IVF Group Ltd (ASX: MVF) and Healthscope Ltd (ASX: HSO) are finding growth hard to come by, this certainly isn't the case for all shares in the sector.
The three shares listed below are growing at a very strong rate at present. I believe this could make them worth a closer look. Here's why:
Nanosonics Ltd (ASX: NAN)
In FY 2017 this infection control specialist posted a 56% increase in gross profit thanks largely to strong demand for its trophon EPR system in the United States. As of the end of FY 2017 the trophon product's installed base had grown to 14,100 units globally. This equates to just under 12% of its estimated global market opportunity of 120,000 units. I think this is a sign that there's still plenty more growth left in the tank for Nanosonics.
National Veterinary Care Ltd (ASX: NVL)
Thanks to the combination of the acquisition and integration of 14 veterinary services and solid organic growth, in FY 2017 this fast-growing veterinary company reported an impressive 51% increase in revenue to $66.9 million. With pet ownership at high levels and the company continuing to grow its footprint, I expect more of the same in FY 2018.
Zenitas Healthcare Ltd (ASX: ZNT)
In FY 2017 this home care and health services company delivered underlying earnings before interest, tax, depreciation, and amortisation of $7 million. This was 27% higher than in FY 2016 and 6.1% higher than its prospectus forecast of $6.6 million. In FY 2018 management expects to deliver organic earnings growth of between 7.5% and 10%, but recent acquisitions will likely lead to much stronger overall growth.
