After suffering a hit to its profits from a shift in its North American sales model, Nanosonics is embarking on a bigger and brighter new chapter, according to CEO Michael Kavanagh.

The $1.4 billion company manufactures a microwave-sized device called Trophon, which sterilises ultrasound probes without chemicals. As well as selling the units, it has a revenue stream from the consumable part of the device, which contains a patented hydrogen peroxide solution that is vapourised in the disinfection process.