Integrated Health Services Inc., an Owings Mill-based company that revamped nursing homes nationwide to care for sicker patients, said yesterday that its stock will begin trading Monday on the New York Stock Exchange. The ticker symbol will IHS.
The stock had been traded on Nasdaq, but Robert N. Elkins, IHS chairman and chief executive, said the New York exchange would make the company more visible to investors, particularly international investors.
"The NYSE will provide a broader market for company shares by increasing IHS' visibility to investors, security analysts and the press," he said. "It will also help IHS achieve greater international recognition by enhancing accessibility to the global capital markets."
Michael A. Martorelli, health care analyst with the Pennsylvania Merchant Group, an investment firm in Radnor, Pa., said it was unclear whether the new listing would help its stock price.
"The advantage [of the New York listing] is that it is listed in every newspaper in the world," he said.
But whether that would help boost its market value remained unclear. More important, Mr. Martorelli said, was the impact of health reform and the quality and price of Integrated's product.
IHS, which operates 67 facilities with more than 8,700 beds, specializes in upgraded medical units within its nursing homes for patients too sick to live at home. The company's prices are typically 30 percent to 60 percent below hospitals' rates.