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3 shares helping people get better and richer

Investing in the right company can help advancements in health and technology that improves the lives of many.

And some companies have the added bonus of providing shareholders with solid returns.

Here are three companies making a difference in a good way.

Cochlear Limited (ASX: COH)

The Cochlear Limited share price has been sinking lately, going from more than $185 in November to its current price of $164.59.

But, despite the recent dip, Cochlear shareholders have still enjoyed returns exceeding 30 per cent over the past year.

Cochlear provides implantable hearing solutions and it’s estimated 37 million people around the world could benefit from the company’s products.

Cochlear is definitely a share to keep an eye on and if its share price continues to drop it could present a great opportunity for those looking to get on board.

Impedimed Limited (ASX: IPD)

The Impedimed Limited share price has gained about 14 per cent over the past year and its shares are now trading for around 93 cents.

Impedimed Limited has a developed a range of products that use electric currents to measure a person’s fat mass, fat free mass, and fluid levels. It allows both patients and medical professionals to better understand the conditions of those tested.

The company says its mission is to improve people’s lives by “providing solutions that allow a deeper understanding of the human body and the importance of fluid status”.

Impedimed Limited last month announced it had received US FDA approval to market one of its fluid monitoring products, SOZO.

Impedimed is looking well positioned for 2018, particularly if its SOZO device takes off.

CSL Limited (ASX: CSL)

When talking about ASX shares that help improve lives of those requiring medical attention whilst delivering shareholders with solid returns it’s hard to look past CSL.

The biotech company’s share price has gained more than 40 per cent over the past year.

In financial year (FY) 2017 CSL reported a net profit after tax on a constant currency basis of about US$1.4 billion on total operating revenue of around US$7 billion.

For FY 2018 CSL is forecasting its net profit after tax to be in the range of approximately $1.48 billion and $1.55 billion at constant currency.

Although the CSL share price is up to $142.38 I still think the company represents a solid investment.

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Motley Fool contributor Steve Holland has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Cochlear Ltd. 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 Bruce Jackson.