Although Tristel (LON:TSTL) has undoubtedly been one of Aim’s more successful companies, it has underwhelmed of late.
The share price peaked at 640p in 2021 amid optimism for its expansion into the US. In 2023, the required regulatory approval came through, providing another surge of demand for the shares. But as 2024 comes to a close, Tristel still hasn’t quite managed to crack the biggest of global healthcare markets.
Tristel is a global leader in infection prevention in hospitals. It is the creator and owner of the chlorine dioxide infection prevention cleaner, which it has used to create products to disinfect medical devices. More recently, the chemical medley has also been used in a new suite of products for surface disinfection sold under the brand name Cache.
Tristel’s chlorine dioxide is the gold standard for device decontamination in the UK and, as such, the company has nearly 100% market share. Still, UK sales rose 31% in the 2024 financial year to £16.2m, driven largely by price rises.
In total, the company generates sales from 61 countries. It operates its own subsidiaries in 16 countries and sells via...
