01:33 PM EST, 12/11/2024 (MT Newswires) -- Health care stocks declined Wednesday afternoon, with the NYSE Health Care Index falling 1% and the Health Care Select Sector SPDR Fund (XLV) dropping 1.1%.

The iShares Biotechnology ETF (IBB) eased 0.1%.

In corporate news, Patterson (PDCO) agreed to be acquired and taken private by health care investment firm Patient Square Capital in a deal worth $4.1 billion, including the refinancing of the dental and animal health equipment distributor's receivables facilities. Patterson shares surged past 34%.