Nanosonics is a single-product company and its trophon device provides high-level disinfection, or HLD, of ultrasound probes used in semi-critical procedures. The patented technology uses low temperature sonically activated hydrogen peroxide mist that is suitable for probes sensitive to damage. Automated HLD is increasingly being adopted as the standard of care globally as it is superior in preventing cross-infection across patients. Nanosonics' revenue is made up of capital sales of trophon units, ongoing consumables sales, and service revenue. At December 2020, there were 25,100 trophon units installed globally. Market penetration rates range from over 75% in Australia and New Zealand, roughly 55% in the United States to low-single-digit penetration in EMEA and elsewhere in Asia-Pacific.