Updated from 2:05 p.m. EDT
were among the best-performing health and pharmaceutical stocks Monday after the company agreed to be acquired by
for about $1.7 billion, or $22.66 a share, in cash and stock, representing a 66% premium over Friday's closing price.
LifePoint will pay $565.4 million in cash and issue some 17.1 million shares to Province shareholders. The deal is expected to be immediately accretive to LifePoint's earnings. Shares of Province Healthcare traded up $5.64, or 41.4%, to $19.25. Shares of LifePoint traded down $5.04, or 15.4%, to $27.70.
( CIPH) rose after a study showed that Ciphergen's ProteinChip system was able to detect three protein biomarkers that could possibly lead to a test that would allow for early detection of ovarian cancer. The study was performed in collaboration with Johns Hopkins School of Medicine. Approximately 23,000 new cases of ovarian cancer are detected each year in the United States. Ciphergen said that it has licensed the test from Johns Hopkins in preparation for commercialization. Shares of Ciphergen Biosystems traded up 58 cents, or 21.4%, to $3.29.
rose after the company swung to a second-quarter profit. The health care products and medical services company posted a profit of 5 cents a share on sales of $26.7 million. A year ago the company posted a loss of 36 cents a share on sales of $20.4 million. Shares of Chindex traded up 74 cents, or 11.1%, to $7.39.
rose ahead of its second-quarter earnings release, due after the market close. The company delayed its earnings release last week, saying that it needed time to "complete certain accounting reviews." The accounting reviews, the company said, were not related to the allegations related to billing discrepancies at its care center in West Hempstead, N.Y. Analysts polled by Thomson First Call are expecting Hanger Orthopedic to post a profit of 34 cents a share on sales of $145.9 million. Shares of Hanger traded up 78 cents, or 17.7%, to $5.20.
Other health care volume movers included
, up 25 cents to $31.40;
, up $1.41 to $55.77;
, up 94 cents to $27.39;
, up $1.10 to $21.11; and
( SGP), up 30 cents to $18.16.