Health Care Sector Update for 02/19/2016: SEM,KND,OGEN,GBSN

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Top Health Care Stocks

JNJ +0.97%

PZE -0.32%

MRK +0.34%

ABT -0.27%

AMGN +0.62%

Health care stocks were edging lower, with the NYSE Health Care Index declining about 0.1% while shares of health care companies in the S&P 500 were down less than 0.1% as a group.

In company news, Select Medical Holdings Corp ( SEM ) was slipping during Friday trade after the hospital company late yesterday announced an agreement to exchange five of its long-term acute care facilities in three states for four hospitals now operated by Kindred Healthcare Inc. ( KND ) plus $800,000 in cash.

Under the deal, Select will get a combined 287 beds at a pair of Cleveland-area hospitals in addition to facilities in Atlanta and Mishawaka, Ind., from Kindred, which will receive a total of 233 beds at hospitals in Indianapolis, Houston, San Antonio, Denver and Colorado Springs, Colo.

The transactions are expected to be completed this summer or early autumn, subject to customary closing conditions, including licensing and other regulatory approvals.

SEM shares recently were down more than 1% at $8.29 apiece after earlier sliding to a session low of $8.11 a share. KND also was lower at $8.89 a share, dropping about 1%.

In other sector news,

(+) OGEN, (+17.7%) Federal agency issues U.S patent for the company's SMaRT Replacement Therapy, which is used to prevent of tooth decay and can be formulated in a variety of composiions, including mouthwash, toothpaste, chewing gum, floss, chewable tablet, food, and beverages.

(-) GBSN, (-10.5%) Prices $6.3 mln public offering of 39.2 mln units public offering at 16 cents each, a 27% discount to Thursday's closing price. Each unit consisted of one share of common stock and 1.5 Series E warrants exercisable at 25 cents per share..

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , US Markets
Referenced Symbols: SEM , OGEN ,

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