3 ASX Healthcare Stocks Showing Strong Growth Potential

These healthcare companies are focused on stable growth, supported by stronger operations, digital transformation, innovation, technology investment and expanding long term healthcare opportunities.

Sonic Healthcare Limited (ASX: SHL)

Announced on 20 August 2026 that FY2026 revenue reached A$10,867m, improved by 13% through 5% organic growth and the guidance of underlying EBITDA was achieved. The LADR acquisition integration is going successfully, achieving over 40% of expected synergies in its first year. Advanced diagnostics also recorded strong growth, while the US operating review continued.

Australian Pathology delivered 5% organic growth, supported by specialist referrals and private billing. Sonic Genetics grew 15% and Biovis 12%, while Australian specialist referrals increased 7%. Mein Direktlabor recorded over 60% growth. Digital transformation began, with around A$30m planned annually for three years to modernise systems and support AI use.

For FY2027, EBITDA guidance is A$1,950–A$2,030m, excluding about A$30m of back-office IT transformation costs. Depreciation is forecast at A$810–A$825m, amortisation at A$90–A$95m, interest expense about 6% higher, and tax around 27%. The final dividend is 60% franked, with payment on 17 September 2026.

Resmed Inc. (ASX: RMD) 

On 6 August 2026, reported Q4 FY2026 revenue of US$1.5 billion, improved 9% with non-GAAP EPS rising 16% to US$2.95. The revenue for the entire year raised 10% to US$5.7 billion with free cash flow amounting to US$1.6 billion. Over US$1 billion were returned to shareholders via dividends and stock buybacks.

ResMed keeps growing its sleep apnea product range with new smaller, quieter, comfortable and connected products. AI and machine learning are being used to improve therapy and user experience. NightOwl and VirtuOx help simplify diagnosis, while Noctrix expands the company’s clinical sleep health portfolio.

Digital health remains an important part of the strategy. AirView and myAir enable connected, data-based care, with more than 35 million patients using cloud-connected devices and over 12 million registered on myAir. The OURA partnership expands sleep health education and care access. ResMed also agreed to sell MatrixCare, keeping its focus on sleep, breathing and connected home healthcare.

Cochlear Limited (ASX: COH)

On 18 August 2026, announced its FY26 results.  The company reported sales revenue growth of 2% in constant currency terms to $2.3 billion, along with an underlying net profit of $322 million. COL implant revenue was flat, affected by lower gross margin, transitional costs and currency movements. The company also launched the Nucleus Nexa System and increased R&D investment.

Cochlear said it would reduce fixed costs and create $25 million for additional FY27 growth investment. The company is improving adult referral pathways and medical engagement across the US, Germany, UK and Australia. Early results included over 15% growth in Australian private hospitals and nearly doubled quality referrals in the UK over four years.

Cochlear forecast low single-digit constant-currency sales growth and underlying net profit of $330–350 million for FY27. Gross margin is expected at 70–71%, with R&D around 13% of sales and capital expenditure of $100–110 million.

(Source: Company Report)