Emerging Canadian Tech Leaders to Invest in for Long-Term Gains

Written by Chris MacDonald at The Motley Fool Canada

Investing in the emerging tech leaders of Canada is a strategy many may be looking to implement. Of course, the Canadian market is much smaller than the U.S. in terms of providing the kind of breadth of options investors are typically used to seeing. However, that’s not to say there aren’t great opportunities out there — quite the opposite. In fact, I think many emerging tech leaders may be better long-term picks for many investors due to the fact that they’re simply more overlooked.

In my view, the following two companies are among the best potential growth stocks, and investors may want to do some research on them heading into 2025. These are companies I think have the potential to outperform over the long term, and here’s why.

WELL Health Technologies (TSX:WELL) is Canada’s leading digital health services and technology solutions provider. The company focuses on enhancing patient care through its innovative healthcare platforms through the integration of telehealth, electronic medical records (EMR), and patient engagement tools.

With increasing demand for accessible healthcare solutions in Canada, WELL is perfectly positioned to grab a major share in the growing telehealth market. The company focuses on digital solutions to align with the broader trend of healthcare digitization. In addition, WELL has achieved impressive financial performance in the third quarter of 2024, reaching a record revenue of $251.7 million. Notably, this number came in 23% higher than the same quarter the year prior, driven by massive organic growth.

Investing in WELL stock provides investors with exposure to a rapidly evolving healthcare landscape. As demand for telehealth and digital health solutions continues to rise, WELL’s innovative approach positions it as a leader in this space. Its commitment to improving healthcare accessibility through technology makes this company a compelling investment opportunity for those looking to capitalize on long-term trends in health tech.

Celestica (TSX:CLS) presents another compelling opportunity for investors seeking long-term gains, driven by the company’s strategic positioning in the rapidly evolving technology and manufacturing sectors. The company has demonstrated robust financial growth, with revenues increasing significantly over recent years. In 2023, the company reported revenues of approximately $9.24 billion, marking a notable rise from previous years.

Celestica operates through two main segments: Advanced Technology Solutions and Connectivity & Cloud Solutions. The company is well-positioned to benefit from the increasing demand for advanced manufacturing solutions, particularly as industries pivot towards automation and smart technologies. Celestica’s focus on sectors such as artificial intelligence (AI) and cloud computing aligns with broader market trends, positioning it favourably for future growth.

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