01:31 PM EDT, 06/03/2024 (MT Newswires) -- Health care stocks were edging higher Monday afternoon, with the NYSE Health Care Index rising 0.1% and the Health Care Select Sector SPDR Fund (XLV) up 0.4%.

The iShares Biotechnology ETF (IBB) rose 0.7%.

In corporate news, Waste Management (WM) agreed to buy medical waste disposal company Stericycle ( SRCL ) in a $7.2 billion deal, including $1.4 billion in debt. Stericycle ( SRCL ) shares soared nearly 15% and Waste Management was falling nearly 5%.