How Are NZ Healthcare Sector And Related Companies Coping Amid COVID-19 Crisis?

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How Are NZ Healthcare Sector And Related Companies Coping Amid COVID-19 Crisis?

 How Are NZ Healthcare Sector And Related Companies Coping Amid COVID-19 Crisis?

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Healthcare is one of the fastest developing industries across the world. With people becoming aware and conscious about the health, the focus on quality living as increased manifolds.

Moreover, with the emergence of COVID-19, the importance of pharma and biotech companies has reached its zenith. It is estimated that global spending on healthcare might climb to $10 trillion by 2022.

On New Zealand’s front, its healthcare sector comprises of both public and private healthcare services.  NZ boasts of high-quality healthcare services with the US being its biggest source of healthcare products.

The country’s healthcare industry generated a GDP of NZ$14.8 billion, as on 31 March 2020.

There are about 220 hospitals, including both privately owned and government owned across NZ. Moreover, the Country was marked with an aging population (more than 65 years) of more than one million people, last year. As a result, there are several operators offering quality retirement villages and aged healthcare facilities across the country.

Source: Copyright © 2021 Kalkine Media Pty Ltd

With this backdrop, let us glance at the 6 NZX healthcare stocks brimming with latest announcements.

Summerset Group Holdings Limited

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Summerset Group Holdings Limited (NZX:SUM) is one of the leading developer of retirement villages and hospitals for the aged across New Zealand. The present Finance Head, Tania Smith, has been appointed as the Acting Chief Financial Officer w.e.f. 29 March 2021. Moreover, its current CFO and Dy. CEO, Scott Scoullar, has also assumed the role of the Company’s Chief Executive from 29 March 2021.

On 30 March 2021, at the end of the trading session, SUM was up by 1.18% at $12.

TruScreen Group Limited

TruScreen Group Limited (NZX:TRU) announced a breakthrough with regards to the suitability of its Truscreen Cervical Cancer Screening Device.

Earlier, as per the research conducted in China, the above mentioned TRU’s device was found to be ineffective in the absence of colposcopy and PAP facilities in the already overburdened hospitals amid the present COVID-19 scenario.

However, researchers are of the opinion that the device can be used to identify the cervical lesions and can be easily used for the screening of HPV+ women even where cytology and colposcopy facilities are non-existent.

On 30 March 2021, at the end of the trading session, TRU was unchanged at $0.099.

Fisher & Paykel Healthcare Corporation Limited

Fisher & Paykel Healthcare Corporation Limited (NZX:FPH) lately, published its trading guidance for FY21. With the inundation of patients in the hospitals for want of respiratory treatment amid COVID 19, requirement for hospital hardware has gone up manifolds.

As a result, FPH’s operating revenue increased significantly, up 73% for the 9-months ended 31 December 2020 on pcp. Moreover, its hospital hardware climbed magnificently at 446% and hospital consumables jumped at 54% during the said period.

With the rollout of vaccines and the ease on restrictions, the Company anticipates increased levels of revenues and NPAT for FY21.

On 30 March 2021, at the end of the trading session, FPH was down by 1.17% at $32.12.

Pacific Edge Limited

Pacific Edge Limited (NZX:PEB) is a cancer diagnostic company of New Zealand. The Company recently, announced the appointment of Anna Stove as its independent director w.e.f. 15 Match 2021.

Stove is presently working as a Director in Rua Bioscience and TAB NZ. Also, she was involved with GlaxoSmithKline, NZ as its GM and had held varied senior level positions in healthcare sector companies.

On 30 March 2021, at the end of the trading session, PEB was flat at $0.99.

Arvida Group Limited

Arvida Group Limited (NZX:ARV) is one of the NZ’s leading operators of retirement villages and offering aged healthcare facilities. The Company had recently declared the retirement of Peter Wilson, the Chair of ARV. Hence, the management has now appointed Anthony Beverley as Chair who will assume the office when vacated by Wilson.

It is pointed out that Arvida’s Board shall now consists of 5 independent directors following the retirement of Wilson.

On 30 March 2021, at the end of the trading session, ARV was up by 0.60% at $1.67.

Rua Bioscience Limited

Rua Bioscience Limited (NZX:RUA) focusses on the cultivation and expansion of its high- quality medicinal products. In its dry run, the Company recently exported a sample of its medicinal cannabis flower to Germany’s Nimbus Health.

Source: Copyright © 2021 Kalkine Media Pty Ltd

Later, as per the agreement, RUA will export large quantities of similar products to Nimbus, which will be used to treat the terminally ill patients across Germany.

With this business operation, the Company is now concentrating on getting hold of the export market, with prime focus on Germany.

On 30 March 2021, at the end of the trading session, RUA remained unchanged at $0.420.

(NOTE: Currency is reported in NZ Dollar unless stated otherwise)

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