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Sector Update: Healthcare
Sector Update: Healthcare
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Sector Update: Healthcare
Healthcare shares are mixed this morning. But two stocks are seeing heady gains pre-bell. Kindred Healthcare (KND) soar 28.49% to $25.03 at last look, breaking past the 52-week high of $20.97. The company posted 2010 Q4 sales of $1.14 bln and earnings per share of $0.54. The Thomson Reuters mean was for $1.12 bln in sales and $0.44 per share. The healthcare services provider also announced plans to acquire RehabCare Group (RHB) and suspended its fiscal 2011 earnings guidance. Each RHB share will be exchanged for $26 per share in cash and 0.471 of a share of KND common stock. KND expects to issue approximately 12 mln shares in connection with the pending transaction. The aggregate value of the pending transaction of about $1.3 bln, including approximately $400 mln of existing indebtedness. Shares of Oculus Innovative Sciences (OCLS) have also shot up 27.72% pre-bell, helped by the company’s announcement that it had received a new FDA 510(k) clearance for its Microcyn-based Epicyn HydroGel, which manages and relieves the burning, itching and pain experienced with various types of dermatoses, including atopic dermatitis and radiation dermatitis. Epicyn HydroGel, a shelf-stable hypochlorous acid formulation based on the company's proprietary Microcyn Technology platform, can also be used to relieve the pain of first- and second-degree burns and can help to relieve dry waxy skin by maintaining a moist wound and skin environment, according to the company.
Channel: Voxant Newsroom
Category: Science
Video Length: 0
Date Found: February 22, 2011
Date Produced: February 22, 2011
View Count: 2
 
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