Sector Update: Health Care Stocks Finish Lower; HealthSouth Sinks on Plans for $175 Mln Senior Notes Offering

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Healthcare stocks were ending lower Thursday with the NYSE Healthcare Sector Index slipping about 0.6% and shares of healthcare companies in the S&P 500 also falling about 0.6% as a group.

In company news, HealthSouth ( HLS ) declined Thursday after the owner and operator of inpatient rehabilitation hospitals disclosed plans for a $175 million public offering of its 5.75% senior notes due 2024.

The company intends to use the net proceeds from the offering, along with borrowings under its secured credit facility, to redeem all $271 million of its 7.25% senior notes due 2018 next month.

HLS shares were down about 1.8% at $38.54 apiece in late trade, climbing slightly above its intra-day low at $34.49 a share.

In other sector news,

(+) STXS, Receives 510(k) clearance from FDA to market its Vdrive robotic navigation system with V-Loop variable loop catheter manipulator in the U.S. Agency approval follows completion of 120-patient, multi-center clinical study.

(-) KMDA, Said it is still seeking EU approval for drug candidate to treat Alpha-1 Antitrypsin deficiency despite failing to produce statistically significant difference from placebo in primary and secondary endpoints during Phase II/III testing.



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This article appears in: Investing , Commodities

Referenced Stocks: HLS

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