The healthcare industry is one of the fastest-growing sectors in the U.S. economy; it has grown by an average of 5% annually over the past few years, according to Statista. The demand for healthcare services is growing faster than providers can expand their capacity, which has driven up operating costs and left many hospitals with old and inefficient equipment that needs replacing. However, new technologies such as telemedicine, remote patient monitoring, and wireless monitoring systems have widened the scope of what industrial health care equipment can do. Newer technologies can help reduce cost while increasing operational efficiency and patient outcomes simultaneously. In this article, we will discuss several top industrial health care equipment stocks you can buy today in more detail.
Ascension is a healthcare services company that operates across the continuum of care. The company provides care for patients in their homes, in facilities such as hospitals and physician offices, and through an expanding network of retail health clinics. Ascension’s flagship product is care management for hospital patients. Once a patient is admitted to a hospital, a care manager from Ascension visits the patient and his or her treating physician to assess what medical services the patient requires, how long they will take to perform, and the cost of providing those services. The care manager then follows the patient throughout their stay and ensures that the patient receives all the services for which he or she is entitled. Ascension’s management services provided include home health care, skilled nursing, hospice and other services provided in patients’ homes. Ascension Health is a non-profit health services organization. The company operates as a subsidiary of holding company, Healthcare Services Corporation. It is an integrated provider of healthcare services in the U.S. Its operations include acute care, post-acute care, sub-acute care, outpatient services, and home care services.
The B. Brown Company is a manufacturer of air-fluidized bed therapy equipment. B. Brown’s air-fluidized beds are used to treat a variety of conditions, including stroke, pulmonary diseases, and pressure ulcers. B. Brown has a large share of the industrial health care equipment market, which has helped it remain profitable. B. Brown’s top product line is the Monarch air-fluidized bed, which can be used for treating wounds and for hyperbaric oxygen therapy (HBOT). The Monarch is one of the most widely used air-fluidized beds in the world. It is also one of the most widely used HBOT devices. B. Brown’s other products include an air-fluidized knee cushion, a gravity boots system, and a vibration platform.
Cardio’s core products are cardio-pulmonary diagnostic imaging equipment, such as cardiac and pulmonary CT scanners. Cardio’s products are used to scan patients for cardiovascular diseases such as coronary artery disease and pulmonary diseases such as COPD and interstitial lung disease. Cardio’s top product is the ProCreo CT system, which is used for coronary CT angiography. The ProCreo is integrated with diagnostic software that supports advanced image post-processing, image acquisition and real-time image guidance. Cardio’s customers include hospitals, clinics, and medical imaging centers. The company also sells its products through distributors.
CareFusion is a developer and manufacturer of healthcare products and services. The company provides products and services for clinical and critical care operations, surgical care, infection prevention and control, and neonatal care. CareFusion’s core products include patient monitoring, surgical solutions, infection prevention and control solutions, critical care solutions, and neonatal products. Its core technologies are real-time cardiac assessment, and sensors that can be integrated with artificial intelligence (AI) and machine learning. The company employs more than 7,800 people and has more than 1,200 customers.
Hologic is a medical technology company that specializes in biopsy devices and imaging equipment for breast and other medical imaging, genetic testing, and surgical tools. Hologic’s core products include the Genius breast biopsy system, the Comet ix breast biopsy system, the Sentio breast biopsy system, the Genius ix DNA breast biopsy system, the Discover genetic testing system, the Gendia breast biopsy system, and the GeneScreen DNA test for hereditary breast and ovarian cancer. The Genius and Comet systems are used for core biopsies, which are the most common type of biopsy in breast cancer. The Genius ix is used to perform a combination of core biopsy and targeted biopsy, and the GeneScreen test screens patients with high risk of breast or ovarian cancer.
Hill-Rom, a Berkshire Hathaway company, is a provider of patient care equipment and related services. The company has three business segments: Patient Care, Diagnostic Imaging, and Surgical. HMR’s Patient Care segment designs, manufactures, and sells equipment, including bed products, diagnostic imaging systems, and related supplies, to acute care hospitals and other healthcare facilities. The Diagnostic Imaging segment provides equipment, services, and software for use in medical imaging, including mammography, computed tomography, fluoroscopy, digital radiography, and magnetic resonance imaging. The Surgical segment sells medical equipment and services used in surgical procedures and related procedures, such as cryosurgery, endoscopy, hyperthermia, and others.
Investors can consider investing in any one of the three industrial health care equipment stocks listed above. Each of them has a strong product portfolio and is expected to grow in the coming years. However, before investing, you should conduct extensive research on each company to ensure that you are investing in a strong company.