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Highlights
- Products, services, and solutions used in the medical field are known as medical technologies
- Pregnancy tests and X-rays are one of the widely used medical technologies
- The rapid advancement of technology has resulted in sophisticated devices and software in the healthcare sector.
Medical technologies are products, services and solutions used in the medical sector. The most common examples of medical technology are pregnancy tests and X-rays. However, with the rapid advancement of technology, the healthcare sector has been blessed with sophisticated devices and software to improve lives of humans.
In this article, we will talk about three penny stocks from the ASX that specialises in medical technology.
Data source: ASX data as of 06 April 2022
Micro-X is a hi-tech company serving the global health and security market. The company develops and commercialises products based on the proprietary cold cathode, carbon nanotube-emitter technology.
This week, MX1 implemented a collaboration and supply agreement with DMS Imaging SA (DMS Imaging), a top French diagnostic medical imaging company. Under the deal, DMS Imaging will buy imaging chain sub-systems from Micro-X.
Last month, the Australian Stroke Alliance (ASA) clinical review team accepted Micro-X data submission that demonstrated that CT design elements can generate images to best practice clinical standards for stroke detection. This was a significant milestone for the company.
Image source: © Njkenw | Megapixl.com
MedAdvisor is a global-level medication management platform. It encourages patients to manage their medication and improve adherence more simply. The company helps in connecting patients to their preferred pharmacy. MedAdvisor works with 25,000 pharmacies in the U.S. and more than 70% of Australian pharmacies.
Since the company’s maximum revenues and earnings are sourced in the U.S., it has been decided new group CEO would be based in the US In the half-year ended 31 December 2021, the company’s revenue surged by 199%, and patients in Australia increased by 35.7%.
The company signed three major deals with Australian Pharmaceutical Industries, Walmart in the US, and the COVID-19 awareness pilot program during the same period.
Do read: NSB, FRE, MDR: Latest updates from 3 ASX healthcare penny stocks
Osteopore is a medical technology company based in Australia and Singapore. It commercialises a variety of customised products, particularly made to facilitate bone healing across multiple therapeutic areas. The company’s patented technology fabricates specific micro-structured scaffolds for bone regeneration through 3D printing and bioresorbable material.
Image source: © 2022 Kalkine Media®
Also read: How have REG, CSL share prices fared after budget’s healthcare boost?
