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Bring your portfolio to life with these stellar ASX healthcare shares

ASX healthcare shares

If you’re looking for buy and hold investment options, then I think the healthcare sector is a great place to start.

This is because in this sector there are a number of companies with the potential to grow materially over the next decade.

With that in mind, here are three top ASX healthcare shares I would buy right now:

CSL Limited (ASX: CSL)

I think the leading biotherapeutics company is a healthcare share to buy. This is because of its high quality businesses and their portfolio of life-saving therapies and vaccines. The good news is that management never rests on its laurels. Each year it invests hundreds of millions of dollars into its research and development. This means CSL has a large number of therapies in its pipeline that have the potential to save lives and generate significant sales over the next decade. Overall, I believe this should underpin strong earnings growth in the coming years and send the CSL share price higher.

Nanosonics Ltd (ASX: NAN)

Another ASX healthcare share to consider buying is this infection prevention company. I’m a big fan of Nanosonics due to its industry-leading trophon EPR disinfection system for ultrasound probes. I think this product alone could drive strong earnings growth over the next decade thanks to its sizeable market opportunity and growing recurring revenues. However, with the company aiming to release a number of new products targeting other unmet needs in the coming years, Nanosonics’ growth could go up a level in the near future. In light of this, I think now would be a good time to buy and hold Nanosonics shares.

Pro Medicus Limited (ASX: PME)

A final healthcare share to consider buying is Pro Medicus. It is a healthcare technology company which provides radiology IT software and services to hospitals, imaging centres, and healthcare groups. Its popular Visage 7 Enterprise Imaging Platform delivers fast, multi-dimensional images which are streamed via an intelligent thin-client viewer. A number of major healthcare institutions are using Visage 7, including the Northwestern Memorial HealthCare. Last month Pro Medicus signed major new contract worth $22 million with the Chicago-based healthcare company. It also revealed that it has a number of sales opportunities in its pipeline that it is working on. I believe this bodes well for its future growth and could be the key to driving the Pro Medicus share price notably higher over the coming years.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of June 30th

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. and Nanosonics Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. recommends Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Pro Medicus Ltd. The Motley Fool Australia has recommended Nanosonics Limited. 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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