The Nanosonics Ltd (ASX: NAN) share price hit a record high of $4.54 on Friday lunchtime as healthcare and technology shares help send the S&P/ ASX200 (ASX: XJO) around 0.7% higher.
Nanosonics has been on a tear ever since February 25 when it revealed that its net profit for the half year ending December 31 2019 had more than tripled to $7.1 million, compared to $2.2 million in the prior corresponding period.
It also grew revenue from contracts with customers 36% to $40.7 million thanks largely to the launch of its new flagship ultrasound disinfectant medical device the 'Trophon 2'.
According to its latest regulatory filing, Nanosonics has 299.9 million shares on issue to give it a market value of $1.36 billion. Although management has not provided any specific financial guidance, it has outlined a number of reasons why it expects to keep growing sales globally over the second half of fiscal 2019 and into 2020.
Interestingly, some of the senior management at Nanosonics used to work at hearing aid success story Cochlear Ltd (ASX: COH). As such they should have plenty of experience in growing a successful multi-national global healthcare business.
