COVID has clearly provided a strong tailwind for vaccine producers overseas while pathology operators locally have seen a huge boost in demand which has flowed through to strong profits, Healius (HLS) and Sonic (SHL) are examples here. Private hospital operators have struggled with delays in elective surgeries due to lockdowns while this has been a benefit for the health insurers who pay the bills. Medical product suppliers such as Fisher & Paykel (FPH) have seen very strong demand while there have been other influences impacting our largest healthcare stocks in CSL (CSL), Cochlear (COH) & Resmed (RMD). Ultimately, picking the winners from here will be more of a challenge, however the obvious conclusion is Ramsay Healthcare (RHC) will likely have a better year in FY22 than they did in FY21 due to pent up demand for elective surgery.
MM is becoming interested in RHC
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