The Nanosonics Ltd (ASX: NAN) share price lifted 4% today despite the fast-growing ultra sound disinfectant business releasing no specific news to the market.
On February 25 2019 Nanosonics reported a net profit of $7.1 million on revenue of $40.7 million for the six-month period ending December 31 2019. The profit and revenue were up 221% and 36% respectively over the prior corresponding half.
The group now has an installed base of its disinfectant machines across 19,310 different hospitals or healthcare facilities around the world, with the vast majority being in the U.S.
Much of the success over the half-year period was attributed to the launch of the company's flagship new Trophon 2 disinfectant device that was released across the US, Europe, and Australia by the end of September 2018.
The group has an excellent balance sheet with a net cash balance of $71.3 million and a decent outlook based on its large addressable healthcare markets and the likelihood for continued sales growth for its Trophon 2 devices.
Another high-flying junior healthcare business on the local market to take a look at is Pro Medicus Limited (ASX: PME). Its shares hit a record high of $17.20 today.
