Several healthcare companies are included in the new SmallCap 600 Index by Standard & Poor's Corp., which is designed to track the stock performance of companies with small market capitalizations.
The New York-based financial services and information company began distributing the index late last month. The median market capitalization of stocks in the index is $267 million. That compares with a median of $3.6 billion for stocks in the S&P 500.
Stocks included in the S&P SmallCap 600 were chosen for their market size, liquidity and industry group representation.
Among the healthcare service companies selected for inclusion are Genesis Health Ventures, Kennett Square, Pa.; GranCare, Culver City, Calif.; Hillhaven Corp., Tacoma, Wash.; Integrated Health Services, Owings Mills, Md.; Living Centers of America, Houston; Phycor, Nashville, Tenn.; Sierra Health Services, Las Vegas; Universal Health Services, King of Prussia, Pa.; and Vencor, Louisville, Ky.
Genesis Health Ventures, which provides eldercare services in five market areas, said inclusion in the index provides greater visibility, wider coverage by securities analysts and increased trading in the stock.