ASX healthcare shares are higher in early trading on Tuesday, with the S&P/ASX 200 Health Care Index (ASX: XHJ) up 0.34% while the broader S&P/ASX All Ordinaries Index (ASX: XAO) is down 0.18%.
These 3 ASX healthcare shares are among the strongest performers within the sector today.
Let's find out why.
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Why are these ASX healthcare shares ripping today?
Clarity Pharmaceuticals Ltd (ASX: CU6)
The Clarity Pharmaceuticals share price surged at the market open to reach an intraday high of $6.20, up 7.6%.
The ASX healthcare share has since retreated to be trading at $5.83, up 1.22%.
This follows news that two trial participants have been dosed and imaged days after the commencement of the Co-PSMA Investigator-Initiated Trial.
The trial seeks to evaluate the performance of Clarity's diagnostic product, 64Cu-SAR-bisPSMA, in comparison to standard-of-care 68Ga-PSMA-11 in detecting prostate cancer recurrence.
The ASX healthcare share has screamed 343% higher over the past 12 months.
Regis Healthcare Ltd (ASX: REG)
Regis Healthcare shares rose 2.6% to a high of $6.65 shortly after the market opened.
They have since fallen back to $6.55, up 1.08%.
One of Australia's largest aged care operators, Regis held its annual general meeting (AGM) this morning.
In a speech, Dr Linda Mellors, Managing Director and CEO, provided a first-quarter update and noted "a positive shift in sentiment within and about the aged care sector".
She said the shift was due to significant worker pay increases and bipartisan support for the Federal Government's proposed new Aged Care Act.
Dr Mellors said challenges remained. These included a bed shortage and uncertainty regarding future staff levels required to cater for the aging baby boomer population.
She commented that Regis was investing in greenfield development projects and looking for acquisition opportunities to expand its network of aged care homes.
She said the company had "a sizeable war chest available" to fund a new three-year strategic plan.
Dr Mellors also provided a first-quarter update.
She said Regis was tracking modestly ahead of its internal profit target, adding:
Our average occupancy improved from 94.9% in Q4 FY24 to 95.5% in Q1 FY25, with spot occupancy on 31 October 2024 at 96.0% tracking ahead of budget.
Aged care Government revenue per occupied bed day increased to $299.30 in Q1 FY25.
Regis' average actual care minutes per resident per day were 210.1 in Q1 FY25 against a target
of 212.9.
Dr Mellors said she anticipates future benefits for Regis from rising demand, better worker availability, increased government funding and ongoing acquisitions and developments.
The ASX healthcare share is up 141% over the past 12 months.
Respiri Ltd (ASX: RSH)
The Respiri share price shot 7.5% higher to 8.6 cents after coming out of a two-day trading halt.
The ASX healthcare stock has now retreated to be trading at 8.3 cents, up 3.75%.
Respiri announced the acquisition of the business and assets of Orb Health Inc.
The company will pay an initial purchase price of US$9 million via the issuance of new shares.
If Orb Health meets its financial targets in CY25, an additional payment, also via new shares, may be payable.
Orb Health will also invest US$700,000 in new shares.
Respiri said the deal accelerates its market access and business development in the US market.
Orb Health is expected to record about US$4.2 million in annual recurring revenue (ARR) in CY24.
Respiri said the acquisition was expected to generate synergies worth about A$3.5 million.
It will also generate cross-selling opportunities worth more than A$2 million during the first year of operations.
The ASX healthcare share is up 183% over the past 12 months.
