01:54 PM EDT, 04/03/2024 (MT Newswires) -- Health care stocks were advancing Wednesday afternoon, with the NYSE Health Care Index adding 0.3% and the Health Care Select Sector SPDR Fund (XLV) up 0.2%.

The iShares Biotechnology ETF (IBB) decreased 0.1%.

In corporate news, Arca Biopharma ( ABIO ) and Oruka Therapeutics said Wednesday that they have agreed to merge in an all-stock deal. Arca shares surged more than 77%.

Asensus Surgical ( ASXC ) shares soared 27% after the company said Wednesday that it has entered into a non-binding letter of intent with medical technology company Karl Storz for a potential acquisition of Asensus.

Glaukos ( GKOS ) said Wednesday that its iDose TR has received a permanent Healthcare Common Procedure Coding System J-code from the US Centers for Medicare and Medicaid Services, starting July 1. Its shares popped 4.3%.