Top 10 Healthcare companies in Australia 2026

Australia’s healthcare sector used to be known for its hospitals and local chemist shops. That picture is no longer true.

Today, an Australian company makes plasma therapies used in more than 100 countries. Another runs pathology labs across Europe and the USA. A Melbourne software firm signs ten-year imaging contracts with US health systems. And a pharmacy merger has created a retailer with annual revenue above A$10 billion.

Look at how much money flows through the sector and its weight becomes clear. Total health spending in 2023-24 was A$270.5 billion, according to the Australian Institute of Health and Welfare (AIHW). That’s 10.1% of GDP. The 2026 reporting season showed how differently the big players are faring. Some posted record profits. CSL booked its first loss since listing in 1994. Ramsay is preparing to separate its French arm.

Also Read: Top 10 FMCG Companies in Australia 2026

This matters if you are an investor, partner, supplier or job seeker in Australian healthcare. We looked at each company’s size, its 2025-2026 financial results, its presence in Australia and abroad, and the products and services it offers. This guide looks at the top 10 healthcare companies in Australia for 2026, from biotech and medical devices to pharmacy, hospitals, diagnostics and health insurance.

Why Australia’s Healthcare Sector Matters in 2026

Healthcare is one of the few sectors where Australian companies compete, and often lead, on the world stage. Here is why it deserves attention.

Steady, Long-Term Demand

An aging population and rising rates of chronic disease keep demand for medicines, devices and care services growing. Australians spent an average of A$10,037 per person on health in 2023-24, according to the AIHW.

Global Reach From a Local Base

Several of the largest healthcare companies in Australia earn much of their revenue overseas. CSL, ResMed, Cochlear and Pro Medicus all sell into North America and Europe, giving Australian shareholders access to global health markets through the ASX.

Innovation You Can Measure

Cochlear implants that can be upgraded. A gene therapy for hemophilia B. Connected sleep apnea machines and software that streams medical images faster. All of these are sold by Australian companies, and they bring in real revenue.

A Tightly Regulated Market

Medicines and medical devices are regulated by the Therapeutic Goods Administration (TGA). Pathology labs must be accredited to claim Medicare benefits, and private health insurers are prudentially regulated. Strong rules reward companies that invest in quality and compliance.

Top 10 Healthcare Companies in Australia at a Glance

Top 10 Healthcare Companies in Australia (2026)

Below is our ranked list, with the latest verified facts on each company.

1. CSL Limited

CSL began in 1916 as a government-owned business called Commonwealth Serum Laboratories. It is now one of the largest companies listed on the ASX, headquartered in the Parkville biomedical precinct in Melbourne. Its medicines and vaccines are available in more than 100 countries. CSL is made up of three businesses: CSL Behring (plasma-derived and rare disease therapies), CSL Seqirus (influenza vaccines) and CSL Vifor (iron deficiency and nephrology).

CSL described FY26 as a year of reset. Revenue fell 1% to US$15.8 billion, and underlying NPATA was US$3.1 billion. After US$7.1 billion in pre-tax impairments and US$799 million in restructuring costs, it recorded a statutory net loss of US$2.6 billion, its first loss since listing on the ASX in 1994. Gordon Naylor returned as interim CEO in February 2026 after Paul McKenzie stepped down. CSL also announced a US$1.1 billion share buyback and expects underlying NPAT to grow about 5% in FY27, helped by newer therapies such as HEMGENIX and ANDEMBRY.

Key Healthcare Solutions
✔ Immunoglobulins and plasma-derived therapies
✔ Influenza vaccines through CSL Seqirus
✔ Gene therapy for hemophilia B (HEMGENIX)
✔ Iron deficiency and kidney care through CSL Vifor

Best for: Investors and partners looking for Australia’s largest biotech, with global scale in plasma and vaccines.

2. ResMed

ResMed was founded in Australia in 1989 by Peter Farrell to commercialize CPAP treatment for sleep apnea. The company is now headquartered in San Diego, operates in more than 140 countries and trades on the ASX under the code RMD. CEO Mick Farrell has led it since 2013. Its products include the AirSense 11 range of CPAP devices, masks and the myAir app, which connects patients with their care teams.

ResMed performed strongly in FY26, with revenue up 10% to US$5.7 billion. Non-GAAP operating margin was 36.1% and free cash flow was US$1.6 billion. It raised its quarterly dividend by 10% to US$0.66 per share. ResMed completed its acquisition of Noctrix Health, a wearable therapy company for restless legs syndrome. It plans to sell its MatrixCare residential care software business and expects the sale to close in the first quarter of FY27. It also launched its AirCurve 11 ST/ST-A devices in the US.

Key Healthcare Solutions
✔ CPAP and bilevel devices for sleep apnea
✔ Masks and accessories
✔ Ventilators for respiratory care
✔ Connected care through the myAir app

Best for: Sleep and respiratory care providers that want proven, connected devices.

3. Sigma Healthcare

Sigma Healthcare traces its roots to 1912 in Melbourne and is now based in Preston, Victoria. Its merger with Chemist Warehouse, completed in February 2025, created a pharmacy group with retail, wholesale and distribution operations. Its brands include Chemist Warehouse, Amcal and Discount Drug Stores. Sigma also provides hospital pharmacy services and contract logistics.

FY26 was the first full year after the merger, and the numbers were strong. Revenue rose 15.5% to A$10.8 billion and normalized NPAT increased 22.3% to A$732.3 million. Chemist Warehouse added 24 stores in Australia, bringing the total to 561, and opened 20 international outlets. Own and exclusive-label products bring in close to A$1 billion a year in sales. CEO Vikesh Ramsunder plans 13 new Chemist Warehouse stores in Australia and 19 overseas in the first half of FY27, including an entry into the UK.

Key Healthcare Solutions
✔ Chemist Warehouse discount pharmacy network
✔ Pharmaceutical wholesale and distribution
✔ Amcal and Discount Drug Stores franchise brands
✔ Private-label and generic medicines

Best for: Suppliers and brands that want the widest pharmacy reach in Australia.

4. Ramsay Health Care

Ramsay Health Care was founded by Paul Ramsay in Sydney in 1964 and is still based there. It is a major private hospital operator, with hospitals and clinics in Australia, the UK and Europe, where it owns a 52.8% stake in Ramsay Santé. The current CEO is Natalie Davis.

Ramsay grew revenue 4.2% in constant currency to A$18.6 billion in FY26. Underlying NPAT rose 22.9% to A$364.1 million and underlying EBIT increased 11.8% to A$1,162 million. Both the Australian and UK businesses were net cash flow positive. The proposed demerger of Ramsay Santé is heading for a shareholder vote in late November 2026, and Ramsay expects further EBIT growth and better margins in FY27.

Key Healthcare Solutions
✔ Private hospitals and day surgery
✔ Acute and day surgery hospitals in Australia
✔ Hospital services in the UK
✔ European healthcare through Ramsay Santé

Best for: Patients, clinicians and partners looking for a large, established private hospital network.

5. Sonic Healthcare

Sonic Healthcare has been listed on the ASX since 1987 and is based in Sydney. It is a global medical diagnostics company, with pathology, radiology and primary care operations in Australia, New Zealand, Germany, Switzerland, Belgium, the UK, Ireland and the USA. Dr Jim Newcombe took over as CEO in 2025, replacing long-serving Dr Colin Goldschmidt.

Sonic’s revenue rose 13% in FY26 to A$10,867 million. Underlying EBITDA was up 11% to A$1,933 million and underlying NPAT increased 17% to A$621 million. Organic revenue growth was 5%. The acquisition of German laboratory provider LADR is paying off, with more than 40% of expected synergies realized in year one. Sonic also plans to spend about A$30 million a year over the next three years to modernize its finance, supply chain and HR systems.

Key Healthcare Solutions
✔ Pathology and laboratory medicine
✔ Diagnostic imaging and radiology
✔ Primary care services
✔ International lab networks in Europe and the USA

Best for: Doctors and health systems that need large-scale, accredited diagnostic services.

6. Pro Medicus

Pro Medicus was started in 1983 by Dr Sam Hupert and Anthony Hall and is based in Richmond, Melbourne. It began with radiology practice management software and acquired Visage Imaging in 2009. That deal gave it the Visage 7 platform, which streams high-resolution medical images to nearly any device and is now used by major health systems in North America.

Growth has been rapid. In FY26, revenue grew 22.9% to A$261.7 million and underlying net profit increased 24.1% to A$144.7 million. Pro Medicus secured ten new contracts worth at least A$407 million in total. One is a ten-year, A$170 million contract with UCHealth in Colorado. Another is a seven-year, A$90 million contract with Beth Israel Lahey Health. Because it charges per transaction, revenue grows as clients scan more patients.

Key Healthcare Solutions
✔ Visage 7 enterprise imaging platform
✔ Cloud-based image viewing and archiving
✔ Radiology workflow software
✔ RIS practice management in Australia

Best for: Hospitals and radiology groups that need fast, scalable imaging software.

7. Cochlear

Cochlear was founded in 1981 and is located on the Macquarie University campus in Sydney. It makes implantable hearing solutions and has a presence in more than 180 countries, with over 650,000 implantable devices provided. Its products include Nucleus cochlear implants and sound processors.

FY26 was not as strong for profit, but product momentum was good. Sales revenue was A$2,343.4 million, up 2% in constant currency. Underlying net profit fell 22% to A$322.4 million, at the upper end of revised guidance. Operating cash flow rose to A$368.0 million. The Nucleus Nexa System, described as the first smart cochlear implant with upgradeable firmware, made up over 95% of implant sales in developed markets. Cochlear expects underlying net profit of A$330-350 million in FY27.

Key Healthcare Solutions
✔ Nucleus Nexa smart cochlear implant system
✔ Sound processors and accessories
✔ Support and upgrade services for recipients

Best for: Hearing specialists and patients who want the most established implant technology.

8. Medibank

Medibank was established by the Australian Government in 1976 and listed on the ASX in 2014. Six million people trust Medibank and ahm as their health insurance brands. The company is also growing its health services business through Medibank Health and Amplar Health. The current CEO is David Koczkar.

Group NPAT attributable to shareholders rose 27.5% to A$638.7 million in FY26, and underlying NPAT was up 2.9% to A$636.8 million. Revenue from external customers was A$9,115.2 million, and total claims paid reached A$6.9 billion. Medibank Health was the standout, with revenue up 30.8% to A$634.8 million. Amplar Health had 5.3 million patient interactions, including 4.1 million GP consults, across its 169 clinics.

Key Healthcare Solutions
✔ Private health insurance through Medibank and ahm
✔ GP and primary care clinics through Amplar Health
✔ Health and wellbeing programs, including Live Better
✔ Health cover for overseas visitors and students

Best for: Households and employers looking for health cover tied to a growing care network.

9. Ansell

Ansell‘s origins date back to 1893 in Melbourne, and the Ansell Rubber Company was founded by Eric Ansell in 1905. Based in Richmond, Victoria, it makes protective gloves and other safety products for hospitals and industry, and it has more than 15,000 employees. Its Healthcare division includes Gammex, a surgical glove brand.

FY26 was a record year for Ansell sales. They reached US$2,140.2 million, up 6.8%. Adjusted EBIT was up 14.1% to US$321.9 million, and adjusted EPS rose 17.8% to US148.6 cents. Operating cash flow increased 156.3% to US$270.1 million, and the full-year dividend went up 35.7%. CEO Nathalie Ahlström reported growth in both the Healthcare and Industrial divisions. Ansell expects FY27 adjusted EPS of US158 to 170 cents.

Key Healthcare Solutions
✔ Surgical gloves, including Gammex
✔ Healthcare protective products
✔ Industrial hand protection
✔ Protective gear for workplaces

Best for: Hospitals, labs and manufacturers that need certified protective equipment at scale.

10. Telix Pharmaceuticals

Telix Pharmaceuticals was founded in 2015 and is based in North Melbourne. It develops and sells radiopharmaceuticals that combine diagnosis and therapy for cancer and rare diseases, with commercial operations in the US, Europe and Japan. Dr Christian Behrenbruch is Managing Director and Group CEO.

Telix met its FY2025 guidance with revenue of about US$804 million (A$1.2 billion), unaudited. Its prostate cancer imaging agent Illuccix holds about 55% of the PSMA-PET market in Australia and has marketing authorizations in 19 European countries. Its newer FDA-approved imaging agent, Gozellix, launched in the US after reimbursement took effect on October 1, 2025. There have been setbacks too. Pixclara and Zircaix both received Complete Response Letters from the FDA, and Telix is working on resubmissions.

Key Healthcare Solutions
✔ Illuccix and Gozellix for prostate cancer imaging
✔ Theranostic pipeline for cancer and rare diseases
✔ Radiopharmaceutical manufacturing
✔ Pixclara and Zircaix imaging candidates, being prepared for FDA resubmission

Best for: Oncology clinics and partners interested in precision cancer diagnostics.

How to Choose the Right Healthcare Partner in Australia

Maybe you’re a hospital buying equipment, a brand looking for distribution or an investor choosing stocks. Either way, the right partner depends on your goals. Here are a few things to consider.

Check Regulatory Approvals

Medicines and devices must meet TGA requirements, and implantable devices must be included in the Australian Register of Therapeutic Goods (ARTG) before they can be legally supplied. Before you sign, ask to see the ARTG entries and any overseas approvals, such as FDA clearance.

Look for Accreditation

For diagnostics, NATA accreditation and approved pathology status are needed to claim Medicare benefits. Ask to see current accreditation and quality and safety data.

Review Recent Financial Results

A partner’s financial health affects supply, pricing and support. Read the latest annual results. 2026 proved that even the biggest companies can face impairments, leadership changes or restructuring.

Match Specialty to Need

Not all companies do the same thing. A diagnostics specialist is not going to sell you devices, and a pharmacy group is not a hospital operator. Find the company whose core business best suits your needs.

Assess Digital and Data Capability

Connected devices, cloud imaging and virtual care are now part of everyday healthcare. Check how a partner’s systems will work with yours and how patient data is protected.

Frequently Asked Questions About Healthcare Companies in Australia

What is the largest healthcare company in Australia?

It depends on what you measure. By revenue, CSL is the highest on this list, with US$15.8 billion in FY26. Among companies that report in Australian dollars, Ramsay Health Care (A$18.6 billion) and Sonic Healthcare (A$10.87 billion) lead. Rankings by profit or market value can look different.

Are these healthcare companies listed on the ASX?

Yes. All ten companies in this guide have shares listed on the ASX: CSL, ResMed, Sigma Healthcare, Ramsay Health Care, Sonic Healthcare, Pro Medicus, Cochlear, Medibank, Ansell and Telix Pharmaceuticals.

Who regulates healthcare products in Australia?

The Therapeutic Goods Administration (TGA) oversees medicines and medical devices. Pathology labs need accreditation to claim Medicare benefits, and private health insurers are subject to prudential regulation.

Which company is best?

No company ticks every box, so there is no single best healthcare company for everyone. It comes down to your needs. If you’re looking for cochlear implants, you would approach Cochlear. If you need imaging software for a hospital radiology department, look at Pro Medicus. A consumer brand would talk to Sigma Healthcare.

Conclusion

The top 10 healthcare companies in Australia cover almost every part of the system, from plasma therapies and sleep devices to pharmacy, hospitals, pathology and insurance. Many of them compete and win overseas, carrying Australian know-how around the world.

2026 also showed that size alone does not guarantee results. CSL went through a reset and Cochlear’s profit fell, while Sigma Healthcare, Pro Medicus and Sonic Healthcare grew strongly. Know what you’re looking for when choosing between healthcare companies in Australia, because the latest results and the right fit matter more than reputation.

Related Reading:

• Top 10 Healthcare Companies in the UK 2026
• Top 10 Healthcare Companies in USA 2024
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