5 ASX MedTech shares PNV, RAP, PCK, VHT, OSL

5 ASX MedTech shares PNV, RAP, PCK, VHT, OSL

In the era of modern world, everything is backed by strong technology or innovation. Each development in technology is aimed to further reduce the human efforts. Innovation is not limited to any sector rather the effects can be felt into every aspect of economic growth such as defense, artificial intelligence, financial technology, healthcare etc. Technology development has completely changed the way businesses were done and have made people try new things and achieve their goals much before they thought they will. During past couple of years, Medical technology industry has come a long way and expanded its footstep. Constant advances in treatments have been able to save the life of millions and improved for even more.   

Medical technology development is generally described by the products for diagnosis, prevention, management and treatment of disease without any reaction of Chemical outside or inside the body. These products could be X-Ray machine, CT-Scan machine, Dental treatment products, etc. In the following article, we will deep dive into five ASX-listed MedTech companies:

PolyNovo Limited

PolyNovo Limited (ASX: PNV) is engaged in the development and commercialisation of innovative medical devices by using its NovoSorb technology in the treatment of burns, surgical wound etc.

PNV has recently announced that it has wrapped up CP-002 feasibility study and the results for the same are scheduled to be submitted in April 2020 to US FDA along with its Pivotal IDE package. The CP-002 feasibility study has examined the effectiveness and safety of the NovoSorb® BTM in the treatment of patients with full thickness burn injuries.

Least Impact from Coronavirus: PNV has multiple supplier redundancy built into its supply chain and it does not source raw materials from China. Hence, it does not expect any significant supply chain disruption. The Company has enough inventory for finished product on shelf in New Zealand, the US, and Melbourne and it possesses adequate stocks in the UK/EU in order to address expected sales for a significant period. The company also expects surgeries to continue in the virus effective world as most of them are used in emergency or trauma cases. Resultantly, it expects a little impact from COVID-19.

The stock of PNV closed the day’s trading session at $1.685 per share on 30th March 2020, indicating a rise of 9.416% against its previous closing price. The market capitalisation of PolyNovo stood at $1.02 billion. As on same date, the total outstanding shares stand at 661.09 million.

ResApp Health Limited

ResApp Health Limited (ASX: RAP) is involved in providing digital healthcare solutions through research and development for the treatment of respiratory disease. The Company is developing smartphone applications for the management of the disease.

Approval from UK Health Research Authority: ResApp recently announced that it has received approval for a multi-site health economic evaluation of ResAppDx-EU from UK Health Research Authority (HRA) when it was applied to adults in accident and emergency (A&E) departments. Also, RAP reported significant interest in triaging COVID-19 patients using ResAppDx-EU. The Company has been in detailed discussions with several healthcare systems for the same, to prioritise patient access to over-burdened clinics and triage patients with respiratory signs.

Completion of Capital Raising:

  • ResApp Health Limited has recently wrapped the capital raising of $5 million by issuing 25,000,000 new ordinary shares at an issue price of 20 cps
  • The company would use the funds raised to fast-track European commercialisation as well as for general working capital.

The stock of RAP closed the day’s trading session at $0.205 per share on 30th March 2020, indicating a rise of 46.429% against its previous closing price. The market capitalisation of ResApp stood at $101.64 million. As on same date, the total outstanding shares stood at 726.03 million.

PainChek Ltd

PainChek Ltd (ASX: PCK) is in the engaged in the development of pain assessment technologies. A short video of the patient face is created using the smartphone camera and analysed using facial identification. PainChek® recognises the facial muscle movements, that indicates the pain and records the information.

On 19th March 2020, the company through a release announced that under the $5 million grant agreement with the Federal Government it has been able to meet an important 25,000 licensed bed milestone. In addition to this, the company has received an amount of $1.25 million from the Australian Federal Government that would be recognized as revenue in March 2020.

As of now, the company did not find any adverse impact on its sales cycle as well as ability to implement PainChek® in new residential aged care (RAC) customers, or in the use of PainChek® by existing customers from the rising uncertainties from COVID-19. As it’s a software and deployed in the cloud, its not limited to territories that can have an impact on the supply. The technology can be used through easily available equipment’s such as smart phones having Apple store or Google play store and being a cloud-based company, the workforce can easily work remotely for example the care staff can access the pain of the residents from upto 3 meters distance.

The stock of PCK closed the day’s trading session at $0.076 per share on 30th March 2020, indicating a fall of 3.797% against its previous closing price. The market capitalisation stood at $81.81 million. As on same date, the total outstanding shares stood at 1.04 billion.

Volpara Health Technologies Limited

Volpara Health Technologies Limited (ASX: VHT) develops digital health solutions in order to enable personalized breast cancer screening.

As per the key personnel, the company is running a decent Q4 and it is currently on track to meet the upgraded annual recurring revenue guidance. The company has been developing a solid pipeline of leads and interest in Transpara over the span of last 9 months. The company has licensed the Transpara computer-aided detection product from ScreenPoint Medical during last year with an objective of increasing ARPU and sales productivity.

The Company’s now holds about 8% market of lung cancer screening in the USA though its recent acquisition of MRS. Mostly lung cancer are found randomly while getting yourself getting checked for something else, therefore, VHT’s lung computer tomography (CTs)  will be used to screen the patients to know the extend of coronavirus.

The stock of VHT closed the day’s trading session at $0.970 per share on 30th March 2020, indicating a fall of 1.523% against its previous closing price. The market capitalisation of Volpara stood at $215.2 million. As on same date, the total outstanding shares stood at 218.48 million.

OncoSil Medical Ltd

OncoSil Medical Ltd (ASX: OSL) is in engaged in the oncology research and development. It officially got listed on Australian Stock Exchange in 2005. The company recently announced that US FDA has awarded Breakthrough Device Designation to OncoSil™. This device is used for treatment of unresectable locally advanced pancreatic cancer together with systemic chemotherapy.

In order to ensure that the proposed premarket approval (PMA) evidence development and clinical trial design captures clinically meaningful data, which is required in the post market setting, OSL would now be working closely with the US FDA

The stock of OSL closed the day’s trading session at $0.130 per share on 30th March 2020, indicating a rise of 4% against its previous closing price. The market capitalisation of OncoSil stood at $78.84 million. As on same date, the total outstanding shares stood at 630.71 million.


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