Medical Equipment Stock Skyrockets on Takeover Deal

Pyng Medical Corp. (TSXV: PYT), a medical equipment stock, shot sharply higher after agreeing to be acquired by Teleflex

Sean Mason | February 6, 2017 | SmallCapPower

A big takeover premium was great news for investors in a medical equipment stock Monday. Here’s some small stocks making big moves on Monday, February 6, 2017 (as of 4 pm EST):

Medical equipment stock Pyng Medical Corp. (TSXV: PYT) soared 372% to $0.38 on Monday after the maker of trauma and resuscitation products for front-line critical care and emergency medical personnel announced that it has agreed to be acquired by Teleflex Incorporated for US$0.30203 per share in cash.

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As well, shares of Ithaca Energy Inc. (TSX: IAE) jumped 12% to $1.94 as the North Sea oil and gas operator said it has agreed to be acquired by Delek Group Ltd. for C$1.95 per share in cash.

Quantum International Income Corp. (TSXV: QIC), meanwhile, reported that it has agreed to sell its healthcare business, Centers for Special Surgery, LLC, for US$3 million. Quantum International stock popped 8% to $0.07 following the announcement.

Finally, Immunovaccine Inc. (TSX: IMV) shares climbed 20% to $1.07 after the clinical stage immuno-oncology company announced that the UHN’s Princess Margaret Cancer Centre will conduct a Phase 2 clinical trial to evaluate the use of a combination of immunotherapies from Immunovaccine and Merck for the treatment of ovarian cancer.

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