Markets

Sector Update: Healthcare

Healthcare stocks are higher, with the NYSE Healthcare Sector Index advancing 0.3% and shares of healthcare companies in the S&P 500 gaining 0.5% as a group.

In company news, Dehaier Medical Systems Ltd. ( DHRM ) rose to some of its best levels in more than a month, last up more than 12% after Chinese authorities approved the company's second-generation DHR998 Sleep Diagnostic Device.

DHRM said the new device has several improvements on its predecessor for sleep study diagnosis, measuring variables such as lung size, oxygen saturation and heart rate while taking in account patient snoring and body position to identify sleep apnea and other breathing problems.

Company officials said they expect to soon start advertising and selling its expanded product portfolio following the recent Chinese State Food and Drug Administration decision.

Shares added nearly 8% in early trade to climb within 5 cents of its 52-week high of $4.85 a share. Apparent profit-taking then briefly dragged the stock into the red before bouncing back to its recent range around $4.65 a share, up nearly 5%.

In other sector news,

(+) CRDC, (+31.5%) Receives U.S. Food and Drug Administration 510(k) clearance for its MicroCutter XCHANGE 30 device and blue staple cartridge for medium thickness tissue for use in multiple open or minimally invasive surgical procedures.

(-) AEZS, (-19.5%) Prices sale of 11.0 million equity units at $1.20 each, producing $12.2 mln in net proceeds after offering costs were deducted. Each unit consists of one common share and a five-year warrant to buy 0.8 of a share at $1.25 per share.

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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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