Global Healthcare Low Leverage High Rewards

WIN-Partners

Market Cap: JP¥34.1b

Through its subsidiaries, distributes medical devices to medical institutions primarily in Japan.

Japan Lifeline

Market Cap: JP¥93.2b

A medical device company, engages in manufacturing and sale of medical device in Japan.

Universal Vision Biotechnology

Market Cap: NT$12.0b

A biotech company, provides vision care services in Taiwan and China.

Enseval Putera Megatrading

Market Cap: Rp6.5t

Engages in the distribution and supply of pharmaceutical products, consumer products, medical equipment, cosmetics, and other trading products in Indonesia.

Tibet Rhodiola Pharmaceutical Holding

Market Cap: CN¥12.3b

Tibet Rhodiola Pharmaceutical Holding Co.

Revenio Group Oyj

Market Cap: €333.6m

Provides ophthalmological devices and software solutions for the diagnosis of glaucoma, macular degeneration, and diabetic retinopathy in Finland, the United States, and internationally.

China National Medicines

Market Cap: CN¥20.3b

Engages in pharmaceutical equipment circulation in China.

Huadong Medicine

Market Cap: CN¥52.7b

Engages in the wholesale and retail of pharmaceutical products in China and internationally.

Shandong Pharmaceutical GlassLtd

Market Cap: CN¥12.4b

Engages in research and development, production, and sale of various pharmaceutical glass packaging products in China.

Equasens Société anonyme

Market Cap: €526.1m

Provides healthcare IT solutions in Europe.

Edan Instruments

Market Cap: CN¥7.3b

Engages in the research, development, manufacture, and service of medical electronic equipment and in vitro diagnostic products in China and internationally.

Yagami

Market Cap: JP¥25.7b

Operates as a specialized trading company in the educational market Japan, China, and internationally.

Suzuken

Market Cap: JP¥334.8b

Primarily engages in the distribution of pharmaceuticals in Japan and internationally.

Nihon Kohden

Market Cap: JP¥234.5b

Engages in research and development, production, sales, and repair and maintenance of medical electronic equipment in Japan, North America, Latin America, Europe, Asia, and internationally.

Ship Healthcare Holdings

Market Cap: JP¥207.5b

Engages in the medical, healthcare, welfare, and nursing care businesses in Japan and internationally.

Bioteque

Market Cap: NT$8.1b

Manufactures and sells medical devices in Asia, South America, North America, and internationally.

Jiangxi Sanxin MedtecLtd

Market Cap: CN¥5.0b

Engages in the research and development, manufacture, sale, and service of medical devices.

BML

Market Cap: JP¥136.1b

Provides contract clinical testing and related services in Japan.

Vital KSK Holdings

Market Cap: JP¥73.8b

Engages in the wholesale and retail sale of pharmaceutical products in Japan.

Create Medic

Market Cap: JP¥9.4b

Engages in the research, manufacturing, and sale of medical appliances in Japan, China, Vietnam, and internationally.

Pacific Hospital Supply

Market Cap: NT$5.9b

Manufactures, processes, and sells medical devices in Taiwan.

MediPal Holdings

Market Cap: JP¥541.5b

Medipal Holdings Corporation engages in the prescription pharmaceutical wholesale business in Japan.

Hi-Clearance

Market Cap: NT$5.8b

Supplies medical devices for the renal, cardiac, radiation, dentistry, oral surgery, thoracic, respiratory, and metabolism markets in Taiwan.

Aier Eye Hospital Group

Market Cap: CN¥79.5b

Operates as an ophthalmic medical company in China, Hong Kong, Europe, the United States, Europe, and Southeast Asia.

OLBA HEALTHCARE HOLDINGS

Market Cap: JP¥11.3b

Operates as a distributor of medical equipment and pharmaceuticals in Japan.

Mouwasat Medical Services

Market Cap: ر.س12.6b

Engages in the acquisition, management, operation, and maintenance of hospitals, medical centers, drug stores, and pharmacies in the Kingdom of Saudi Arabia.

Advantage Risk Management

Market Cap: JP¥8.1b

Provides mental health management and disability support services in Japan.

Nagaileben

Market Cap: JP¥51.8b

Manufactures and sells medical clothing in Japan.

Rion

Market Cap: JP¥46.2b

Develops, manufactures, sells, and services particle counters, medical equipment, and environmental equipment in Japan.

Shofu

Market Cap: JP¥74.5b

Manufactures and sells dental materials and equipment worldwide.

Toho Holdings

Market Cap: JP¥251.3b

Engages in the wholesale distribution of pharmaceutical products in Japan.

Shenzhen Mindray Bio-Medical Electronics

Market Cap: CN¥169.3b

Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

FALCO HOLDINGS

Market Cap: JP¥26.2b

A medical service company, provides clinical testing and dispensing pharmacy services to medical institutions and companies in Japan.

Fukuda Denshi

Market Cap: JP¥309.9b

Engages in the manufacture and sale of medical instruments in Japan and internationally.

Médica Sur. de

Market Cap: Mex$6.6b

Operates as a healthcare hospital in Mexico.

UMP Healthcare Holdings

Market Cap: HK$361.3m

An investment holding company, provides a range of medical and healthcare services in Hong Kong, Macau, and Mainland China.