Few ASX 200 stocks are facing severe selling pressure during this market turmoil. However, as astute investors love deep sea fishing to maximise gains, it would be timely to look for best growth stocks to buy now.
Pro Medicus Limited (PME)
Pro Medicus Limited (ASX: PME) recently signed a major 7-year, AUD $40 million contract with LucidHealth, a U.S.-based provider of radiology services. This contract will implement the company’s cloud-based Visage 7 Enterprise Imaging Platform, which includes Visage 7 Viewer, replacing LucidHealth’s existing legacy PACS. The platform will be rolled out across LucidHealth’s network of 140 care sites, providing enhanced diagnostic imaging and teleradiology capabilities. This transaction is a key development in PME's North American expansion in private healthcare networks with a transactional licensing structure to provide future potential revenue expansion.
For the first half of the 2025 fiscal year, PME delivered outstanding financial growth. The company’s after-tax profit rose by 42.7%, reaching $51.74 million, while revenue increased by 31.1%, totaling $97.20 million. Strong growth was seen across PME’s North American market, including significant contract wins with leading hospitals and health networks. The company also extended key agreements, such as a five-year contract renewal with Mercy Health and a new contract for Visage 7 Open Archive at major institutions like NYU Langone. This strong financial performance highlights PME’s continued success and increasing market share in key international markets.
PME is among top growth stocks as it continues to invest in growth and innovation, investing heavily in research and development to maintain its competitive edge. The company’s Australian business grew by 10.8%, largely driven by a contract extension with a large radiology network. Moreover, PME’s European operations showed steady performance, and cash reserves increased by 17.7%, reaching $182.33 million by the end of 2024.
The company is in a strong financial position, debt-free, and continues to prioritize reinvestment into product development and customer-driven innovations to fuel long-term success.
CSL Limited (ASX: CSL)
CSL Limited (ASX: CSL) delivered strong financial performance for the first half of the 2025 financial year, with a net profit after tax of $2.01 billion, a 6% increase compared to last year. This growth was driven by strong performance from CSL Behring, particularly in its immunoglobulin (Ig) therapies. CSL's revenue reached $8.48 billion, a 5% increase at constant currency, while NPATA, which reflects earnings after tax and amortisation, grew 3% to $2.07 billion. The company also declared an interim dividend of $1.30 per share, up 16% from the previous year, highlighting its solid financial position.
The company's plasma collection business continues to grow, with costs decreasing as the rollout of advanced plasmapheresis devices progresses. This is expected to enhance efficiency by mid-2025. In CSL Seqirus, however, the flu vaccine segment faced challenges, especially in the United States, where immunisation rates were significantly low. As a result, overall revenue for CSL Seqirus dropped 9%. Despite this, CSL Seqirus maintained its leadership in pandemic preparedness and secured tenders for the current H5 avian flu outbreak, which will bring revenue in the second half of FY25.
CSL Vifor saw a 6% revenue increase, driven by strong growth in iron product sales and successful market uptake of nephrology products. The company experienced continued demand in Europe, despite competition from generic products. CSL remains confident about its forecasts for FY25, expecting revenue growth of around 5-7% and NPATA between $3.2 billion and $3.3 billion. Through continued investment in enhancing gross margins and growth of its core businesses in nephrology, iron treatments, and immunology, CSL is well prepared to continue growing, even in the face of exogenous challenges such as influenza vaccine market conditions.
(Source: Company's Report)
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