Medical device companies have left drug developers and the Small Ordinaries Index for dead over the past two years

Medical device companies have left drug developers and the Small Ordinaries Index for dead over the past two years. The 18 pure-play device companies have delivered an average gain of 117% since 1st Jan 2013, and 45% since 1st Jan 2014. Top of the list is ImpediMed (IPD), a spectacular turnaround story which has delivered share price gains of more than 1,000% over the past two years, and 285% in the past year. The board brought in highly experienced management, removing many of the barriers to commercial uptake, gaining approvals increasing the addressable market five-fold. Nanosonics (NAN) is up 265% over the past two years and 111% over the past year as sales momentum builds for its unique, point-of-care system for disinfecting ultrasound probes. The company has attracted the attention of big league partners including GE Healthcare, Toshiba and Miele. The next company likely to join these high performers is Osprey Medical (OSP). OSP is commercialising an easy-to-use system for reducing the amount of X-ray dye that is used during cardiac procedures. SmartInvestor story here: (VIEW LINK)