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 advancements in technology, the healthcare industry has been blessed with sophisticated devices and software to improve the lives of humans.
In this article, we’ll talk about three ASX penny stocks that specialize in medical technology.
Data source: ASX data from 0April 6, 2022
Micro-X Limited (ASX: MX1)
Micro-X is a high-tech company serving the global health and safety market. The company develops and markets products based on proprietary cold cathode and carbon nanotube emitter technology.
This week, MX1 set up a collaboration and supply agreement with DMS Imaging SA (DMS Imaging), one of France’s leading diagnostic medical imaging companies. As part of the agreement, DMS Imaging will purchase imaging chain subsystems from Micro-X.
Last month, the Australian Stroke Alliance (ASA) clinical review team accepted the submission of Micro-X data which demonstrated that CT design elements can generate images that meet best practice clinical standards for the detection of cerebrovascular accidents. This was an important step for the company.
Medadvisor Limited (ASX: MDR)
Image source: © Njkenw | Megapixl.com
MedAdvisor is a global medication management platform. It encourages patients to manage their medication and improves compliance more simply. The company helps connect patients to their preferred pharmacy. MedAdvisor works with 25,000 pharmacies in the United States and over 70% of Australian pharmacies.
Since the company’s maximum revenues and profits come from the United States, it was decided that the new CEO of the group would be based in the United States. In the six months ended December 31, 2021, the company’s revenue jumped 199% and patients in Australia increased 35.7%.
The company signed three major agreements with Australian Pharmaceutical Industries, Walmart in the United States and the COVID-19 Awareness Pilot Program during the same period.
Read: NSB, FRE, MDR: Latest Updates From ASX Healthcare 3 Penny Stocks
Osteopore Limited (ASX:OSX)
Osteopore is a medical technology company based in Australia and Singapore. It markets a variety of personalized products, specially designed to facilitate bone healing in multiple therapeutic areas. The company’s patented technology manufactures specific micro-structured scaffolds for bone regeneration by 3D printing and bioresorbable material.
Image source: © 2022 Kalkine Media®
Also Read: How Did REG and CSL Stock Prices Perform After Health Care Budget Increase?