This month we highlight Nanosonics Limited (NAN.ASX) as a shariah-compliant investment.
Nanosonics, founded in 2001 and listed on ASX in 2007, is an Australian infection prevention company that has successfully developed and commercialised a unique high-level disinfection technology called the Trophon.
The Trophon is a medical device for the disinfection of ultrasound probes, which are commonly used for intra-cavity and abdominal prenatal examinations, and currently used in the examination of approximately 20 million patients per year.
Nanosonic’s Trophon device – the new gold standard in ultrasound probe disinfection
The Trophon has been transformational in automating what was previously a manual time-consuming process requiring probes to be soaked in highly toxic chemicals for up to 24 hours, into an automated one-step system taking around 30 minutes. This has revolutionised the process for ultrasound probe disinfection and workflow, reducing the potential for patient cross-contamination and infections like Hepatitis B and Human Papilloma Virus (HPV) which can cause serious illness and cervical and other cancers.
It provides a fail-safe preventative solution that improves patient and clinical safety allowing for tracking and tracing of probes and removing the need for manual record keeping which is time consuming and error prone.
The replacement of traditional disinfection and decontamination processes with the Trophon device has the benefit of also providing a more sustainable and environmentally friendly solution, avoiding the use and need to dispose of thousands of litres of water and toxic chemicals annually.
The Trophon technology is being rolled worldwide and increasingly being adopted as the best practice standard of care for ultrasound probes by regulators and healthcare providers. In many countries, the introduction of the Trophon has increased the awareness of infection prevention in the medical setting and is helping transform the way infection prevention practices are more generally understood and conducted.
Preventable infections are one of the most frequently recorded adverse events in healthcare, and are exactly that – preventable. But many medical institutions are forced to spend the time and cost of dealing with outbreaks of preventable infections. These infections diminish a patient’s quality of care and undermine a healthcare professional’s capacity to provide this care.
Nanosonics’s strategy and focus extends beyond the Trophon, and it is working more broadly on developing and looking to commercialise other innovative disinfection technologies that deliver improved standards of care in the healthcare setting. Whilst it has not provided specifics around further new products, Nanosonics is working on a number of new technologies and indicated it is reasonably advanced in the development of a second product, which we expect to hear more about over the next twelve months. We see the prospects as exciting not only from an investment perspective, but in providing further new breakthroughs in helping transform infection prevention and improve clinical safety and patient lives. For more stock highlights check out our Ummah Reads blog.
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Chief Investment Officer
Strategic leader with 19 years of industry experience and over 7 years in executive and senior management positions leading small to medium sized multi-functional operations in the funds management and superannuation industry. A record of delivering outstanding investment outcomes for members and a proven track record in driving member engagement through investment education and insights.