One area of the market that I think is a good place to look for buy and hold options is the small end of the healthcare sector.
I think here you’ll find a number of companies that have the potential to grow significantly in the future thanks to favourable tailwinds and new technologies.
Three small cap healthcare shares I am watching closely are listed below. Here’s why I like them:
Medadvisor Ltd (ASX: MDR)
The first small cap healthcare share to watch is Medadvisor. It is a growing software systems developer which is addressing gaps in personal medication adherence. The company’s app connects to pharmacy dispensing systems to automatically retrieve medication records and drive an intelligent training, information, and reminder system to ensure correct and reliable medication use. In addition, Medadvisor is also rolling out a medicine delivery service and a telehealth solution.
Telix Pharmaceuticals Ltd (ASX: TLX)
Telix Pharmaceuticals is a clinical-stage biopharmaceutical company focused on the development of diagnostic and therapeutic products based on targeted radiopharmaceuticals or molecularly-targeted radiation. It is developing a portfolio of clinical-stage oncology products that address significant unmet medical need in renal, prostate, and brain cancer. I believe the company has a lot of potential and could prove to be a great long term investment.
Volpara Health Technologies Ltd (ASX: VHT)
Volpara is healthcare technology company. It provides software that uses artificial intelligence imaging algorithms to assist with the early detection of breast cancer. It has been a very strong performer in recent years due to the growing popularity of its software with radiologists. And thanks to the quality of the software, recent acquisitions, and its growing North American footprint, I expect the company to deliver further strong growth in FY 2021 and for many years to come.
And don’t miss this fourth share which has been tipped as a must buy this month.
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Returns as of 6/5/2020
More reading
- 3 exciting small cap ASX shares to invest $3,000 into right now
- 3 small cap ASX healthcare shares with enormous potential
- How to make money whilst you sleep with ASX shares
- 3 small cap ASX shares that could be stars of the future
- Why Beach, Newcrest, Volpara, & Westpac shares are dropping lower
James Mickleboro owns shares of TELIXPHARM DEF SET. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of MedAdvisor. The Motley Fool Australia owns shares of and has recommended VOLPARA FPO NZ. The Motley Fool Australia has recommended MedAdvisor. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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