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3 exciting small cap healthcare shares to watch

One area of the share market that I think has bright long-term growth prospects is the healthcare sector.

Listed below are three high quality up and coming healthcare companies at the small-end of the market that I think investors should be better acquainted with.

Here’s why I like them:

Ellex Medical Lasers Ltd (ASX: ELX)

Ellex Medical Lasers is a medical device company focused on the development, manufacture and sale of lasers and diagnostic equipment for the treatment of eye diseases. The company’s performance has been a touch mixed over the last 18 months, but I remain confident that the work it has done behind the scenes will lead to a return to form in the near future. Management estimates that the minimally invasive glaucoma surgery market will grow from approximately US$200 million today to US$1 billion by 2021, giving Ellex Medical Lasers a significant market opportunity.

Pro Medicus Limited (ASX: PME)

Pro Medicus is the health imaging IT provider behind the increasingly popular Visage 7 technology. This software delivers fast server-side rendered images streamed via an intelligent thin-client viewer. This allows radiologists and referring physicians to have a customised protocol-driven workflow to natively view multi-dimensional imagery and a patient’s complete imaging history. I think this invaluable resource has enormous potential and was not surprised to see Yale New Haven Health roll it out across all its radiology departments last year.

Zenitas Healthcare Ltd (ASX: ZNT)

I think that this home care and health services company is well worth a closer look thanks to favourable reforms in the healthcare sector. These reforms aim to push the burden of healthcare services from hospitals into primary care providers like Zenitas. The company recently provided a trading update which revealed that it is on course to achieve its FY 2018 EBITDA guidance of between $13 million and $13.5 million.

Lastly, if you like small cap shares then you won't want to miss out on these stars of the future.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended PRO Medicus Ltd. The Motley Fool Australia owns shares of Ellex Medical Lasers Limited. The Motley Fool Australia has recommended Zenitas Healthcare 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 Scott Phillips.

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