Are these 2 impressive ASX shares buys in January 2022?

There are some ASX shares that are managing to demonstrate high levels of growth right now, despite the high levels of disruption of COVID-19.

Businesses that are producing a higher level of revenue growth may be able to achieve more earnings growth over the longer-term. Lots of investors do like to focus on the profit as a way to value a share price.

With that in mind, here are two ASX shares that are seeing growth:

Sonic Healthcare Ltd (ASX: SHL)

Sonic Healthcare is a large pathology business that is currently involved in processing COVID-19 PCR tests. It has operations in Australia, New Zealand, Europe and North America.

In the first four months of FY22 to 31 October 2021, before Omicron's huge surge occurred, Sonic's revenue was up 5% to $3.1 billion and earnings before interest, tax, depreciation and amortisation (EBITDA) had increased 16% to $991 million.

Morgans currently rates Sonic Healthcare as a buy, with a price target of $50.72. It recently increased the price target to above $50 after the high levels of Omicron testing that the ASX share is seemingly doing.

The broker currently rates the Sonic share price as a buy and values it at 16x FY22's estimated earnings.

Morgans also notes the recent ProPath acquisition, which was described as a high-quality, medically-led anatomical pathology company based in Dallas, Texas. It has annual revenue of around US$110 million. This is a "very significant additional step" in the ongoing development of Sonic's anatomical pathology and clinical laboratory operations in the US.

Pointsbet Holdings Ltd (ASX: PBH)

For readers that haven't heard of Pointsbet before, it's a corporate bookmaker with operations in Australia, the US, Canada and Ireland.

Pointsbet has developed a wagering platform where it can give clients sports and racing wagering products, advance deposit wagering on racing (ADW) and iGaming.

It's seeing rapid growth, particularly in the US. In the first quarter of FY22, it saw overall turnover growth of 42% to $979.9 million, with US turnover growth of 112% to $348.6 million.

The ASX share is seeing rapid growth of its 'net win'. In the first quarter of FY22, the overall net win increased 76% to $67.3 million and the US net win soared 307% to $12.5 million. New Jersey and Illinois were predominately responsible for the US net win figure.

Both the US and Australian divisions of the business are seeing high growth of the number of cash active clients (being someone who has placed a cash bet in the last 12 months). At 30 September 2021, Australian clients were up 79% year on year to 222,682 and US clients were up 367% to 185,880.

Credit Suisse currently rates Pointsbet as a buy, with a price target of $12.80. That's more than 80% higher than where it is right now.

The ASX share continues to expand geographically in the US. The company's online offering and mobile sports betting is now live in Virginia.