ASX Health Stocks: Medical imaging player Resonance Health leads the pack with FY21 revenue increase

Leader of the health stocks today was non-invasive medical imaging company Resonance Health (ASX:RHT), up 5.83% off the back of a 3% revenue increase for FY21.

This was despite lockdowns and accessibility issues for patients to scanning centres during the global pandemic.

Around 31% of the company’s sales for the year was from the US and Canada, with the UK contributing 21% and the balance spread across Europe, Australia and Asia.

RHT also achieved regulatory clearance from the US Food and Drug Administration (FDA) and the Australia Thereapeutic Goods Administration (TGA) for its HepaFat-AI – an automated AI-based liver fat quantification tool.

And the company continued development of its Alert-PE tool for the AI identification of pulmonary embolism using computer tomography pulmonary angiogram (CTPA) scans.

RHT is now focused on organic revenue growth from its existing regulatory-approved product suite, pursuing strategic alliances to accelerate product distribution and progressing its R&D portfolio toward clinical validation and regulatory approval.

Other ASX listed health stocks with news out today

Exopharm (ASX:EX1) +5.68%

Despite reporting revenues dropped 88.4% for the FY20 to $7049, the company jumped 5.68% today.

The loss for the group was $8,468,046 – an increase from last year of $5,278,803.

However, the company did demonstrate the safety of is manufacturing process and LEAP exosome isolation technology during its clinical trial – and launched a preclinical pipeline of customised exosome medicines during the period.

Exopharm also filed two new patens and was granted patents for its core LEAP (Russia) and EVPS (US) technologies.

Notably, exosomes made with EVPS can be directed to specified cell types and deliver the cargo into cells of a certain type (e.g. neurons) and this targeted delivery is important for nucleic acid medicines.

And the company secured a $22 million capital raising to accelerate the commercialisation of the company’s technology platforms and products

ECS Botanics (ASX:ECS) +2.94%

ECS jumped 2.94% after announcing a four-year agreement to supply $1.75m million worth of GMP manufactured medicinal cannabis products to MW Pharma – one of New Zealands largest cannabis distribution companies.

“There is strong underlying demand for medicinal cannabis across the country and a favourable competitive landscape for our product suite, so we anticipate our high quality products will be well received,” managing director Alex Keach said.

The company sees New Zealand as a growth market – give its long history of medicinal cannabis use dating back to GP’s in the country prescribing cannabis tinctures for migraines up until 1955.

“We expect additional opportunities to arise in the jurisdiction,” ECS executive director Nan-Maree Schoerie said.

Healius (ASX:HLS) -5.26%

Despite announcing revenue of $1.9bn for FY21, pathology and imaging provider Helius dropped 5.15% due to the lockdown impacts on hospitals.

The company said its pathology busines delivered growth at $1.45bn revenue from community and commercial COVID-19 testing, undertaking 5.75 million tests to-date. Non-COVID revenues also grew demonstrating the resilience of core healthcare services.

However, while imaging grew to $406.7m revenue with expansion at the Northern Beaches Hospital in Sydney – it was impacted by lockdowns in the states where it operates especially in Victoria, where the division has a large hospital portfolio and a strong presence in metropolitan areas.

Oneview Healthcare (ASX:ONE) -6.85%

The healthcare software provider dropped 6.85% today after reporting just a slight revenue increase for Hy21 of 1% to €2,601,317 – a €33,242 jump from HY20.

At the end of the half, the Oneview system was live in 9,121 beds (30 June 2020: 9,068) with a further 2,357 beds contracted but not yet installed (30 June 2020: 1,796).

But like most healthcare companies, the company said Covid-19 has impacted its abilities to deploy its software in several hospitals that remain inaccessible to healthcare IT vendors.

Although on a positive note, the company launched its CXP Cloud Enterprise product in March – which is the world’s first and only cloud-based inpatient care experience platform. Essentially, it gives patients and their families the ability to communicate virtually with healthcare teams, along with access to education and health information.