BrightSpring Health Services Set to Join S&P MidCap 400 and Karman Holdings to Join S&P SmallCap 600

Rhea-AI Summary

S&P Dow Jones Indices announced that BrightSpring Health Services (NASD: BTSG) will move from the S&P SmallCap 600 to the S&P MidCap 400, replacing Chart Industries (NYSE: GTLS), effective before the market opens on July 17, 2026. Karman Holdings (NYSE: KRMN) will join the S&P SmallCap 600, replacing BrightSpring on the same date. These index changes follow Baker Hughes (NASD: BKR) agreeing to acquire Chart Industries in a transaction expected to close on July 16, 2026, subject to final closing conditions.

Positive

• BrightSpring added to S&P MidCap 400 effective July 17, 2026
• Karman Holdings added to S&P SmallCap 600 effective July 17, 2026
• Baker Hughes to acquire Chart Industries with closing expected July 16, 2026

Negative

• Chart Industries removed from S&P MidCap 400 as it is acquired by Baker Hughes
• BrightSpring removed from S&P SmallCap 600 as it moves into the MidCap 400

News Market Reaction – BTSG

-2.02%

1 alert

-2.02% Session close to close

$13.67B Market Cap

0.0x Rel. Volume

In the Jul 15 session, BTSG declined 2.02%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

Set against a backdrop of low reported short positioning and recent net insider selling, BrightSprin...

Analysis

Set against a backdrop of low reported short positioning and recent net insider selling, BrightSpring’s move from the S&P SmallCap 600 into the S&P MidCap 400 highlights evolving ownership dynamics; investors may watch how index-related flows interact with those insider trends.

Key Figures

Effective date: July 17, 2026 Acquisition expected close date: July 16, 2026 Index: S&P MidCap 400 +3 more

6 metrics

Effective date July 17, 2026 Index changes effective prior to market open

Acquisition expected close date July 16, 2026 Baker Hughes–Chart Industries deal expected closing

Index S&P MidCap 400 BrightSpring to be added, replacing Chart Industries

Index S&P SmallCap 600 BrightSpring to be deleted, replaced by Karman Holdings

Index S&P 500 Current index of acquirer Baker Hughes

First index year 1884 Year Charles Dow invented the first index

Historical Context

5 past events · Latest: Jul 08 (Neutral)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jul 08	Earnings call scheduling	Neutral	+1.5%	Set Q2 2026 results release and earnings call date and time.
Jun 12	Board appointment	Neutral	-1.0%	Appointed AI-focused Stanford professor to Board and Quality & Compliance Committee.
Jun 03	Secondary offering pricing	Negative	-5.7%	Priced 15M-share secondary resale at $58.75 with concurrent 1,026,694-share repurchase.
Jun 03	Secondary offering launch	Negative	-5.7%	Announced 15M-share secondary resale by existing holders and up to $60M buyback.
May 01	Q1 2026 earnings	Positive	+9.6%	Reported strong Q1 growth and raised 2026 revenue and EBITDA guidance with lower leverage.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Historically, BrightSpring has reacted strongly to fundamental earnings and guidance news while secondary resale offerings and buybacks have coincided with sharp declines.

Key Terms

s&p midcap 400, s&p smallcap 600, s&p 500, gics sector

4 terms

s&p midcap 400 financial

"S&P SmallCap 600 constituent BrightSpring Health Services Inc. ... will replace Chart Industries Inc. ... in the S&P MidCap 400"

The S&P MidCap 400 is a group of 400 companies that are smaller than the big, well-known corporations but larger than tiny startups. It helps investors see how medium-sized companies are performing in the stock market, acting like a barometer for this middle-sized group of businesses.

s&p smallcap 600 financial

"S&P SmallCap 600 constituent BrightSpring Health Services Inc. ... and Karman Holdings Inc. ... will replace BrightSpring Health Services in the S&P SmallCap 600"

A stock market index made up of 600 small-cap U.S. companies chosen to represent the performance of smaller publicly traded firms. It matters to investors because it acts like a temperature gauge for the small-company segment of the market, serving as a benchmark for fund managers, a basis for index funds and ETFs, and a way to compare returns and risk when building a diversified portfolio.

s&p 500 financial

"S&P 500 constituent Baker Hughes Co. (NASD: BKR) is to acquire Chart Industries"

The S&P 500 is a broad stock market index that tracks the performance of 500 large U.S. companies, weighted so bigger firms have a larger impact. Investors use it like a thermometer or benchmark to judge how the overall U.S. stock market or a portfolio is doing; movements in the index influence investor sentiment, fund performance, and many passive investment products that aim to match its returns.

View in glossary

gics sector financial

"Effective Date | Index Name | Action | Company Name | Ticker | GICS Sector"

GICS sector is one of the major industry groupings from the Global Industry Classification Standard, a system that sorts companies into consistent categories (like Technology or Health Care) based on the primary business they do. Investors use these sectors like folders in a filing cabinet to compare companies, build diversified portfolios, and track how whole parts of the market are performing rather than focusing on single stocks.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NEW YORK, July 14, 2026 /PRNewswire/ -- S&P SmallCap 600 constituent BrightSpring Health Services Inc. (NASD: BTSG) will replace Chart Industries Inc. (NYSE: GTLS) in the S&P MidCap 400, and Karman Holdings Inc. (NYSE: KRMN) will replace BrightSpring Health Services in the S&P SmallCap 600 effective prior to the opening of trading on Friday, July 17. S&P 500 constituent Baker Hughes Co. (NASD: BKR) is to acquire Chart Industries in a deal expected to close July 16, pending final closing conditions.

Following is a summary of the changes that will take place prior to the open of trading on the effective date:

Effective Date	Index Name		Action	Company Name	Ticker	GICS Sector
July 17, 2026	S&P MidCap 400	Addition		BrightSpring Health Services	BTSG	Health Care
July 17, 2026	S&P MidCap 400	Deletion		Chart Industries	GTLS	Industrials
July 17, 2026	S&P SmallCap 600	Addition		Karman Holdings	KRMN	Industrials
July 17, 2026	S&P SmallCap 600	Deletion		BrightSpring Health Services	BTSG	Health Care

ABOUT S&P DOW JONES INDICES

S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.

S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spglobal.com/spdji/en/. 

FOR MORE INFORMATION:

S&P Dow Jones Indices
index_services@spglobal.com

Media Inquiries
spdji.comms@spglobal.com

View original content:https://www.prnewswire.com/news-releases/brightspring-health-services-set-to-join-sp-midcap-400-and-karman-holdings-to-join-sp-smallcap-600-302825665.html

SOURCE S&P Dow Jones Indices

FAQ

What index change involves Baker Hughes (BKR) and Chart Industries (GTLS) on July 17, 2026?

Baker Hughes (BKR) is acquiring Chart Industries (GTLS), leading to Chart’s removal from the S&P MidCap 400 on July 17, 2026. According to S&P Dow Jones Indices, BrightSpring Health Services will replace Chart in the index.

Why is BrightSpring Health Services (BTSG) moving to the S&P MidCap 400 in July 2026?

BrightSpring Health Services (BTSG) will join the S&P MidCap 400 to replace Chart Industries following Chart’s acquisition by Baker Hughes. According to S&P Dow Jones Indices, the change is effective before the market opens on July 17, 2026.

When will Karman Holdings (KRMN) be added to the S&P SmallCap 600 index?

Karman Holdings (KRMN) will be added to the S&P SmallCap 600 on July 17, 2026. According to S&P Dow Jones Indices, Karman will replace BrightSpring Health Services, which is moving from the SmallCap 600 to the MidCap 400.

What does the Baker Hughes (BKR) acquisition of Chart Industries (GTLS) mean for index membership?

The Baker Hughes (BKR) acquisition of Chart Industries (GTLS) will remove Chart from the S&P MidCap 400. According to S&P Dow Jones Indices, BrightSpring will replace Chart in the MidCap 400, while Karman Holdings joins the SmallCap 600.

On what date will the S&P index changes for BTSG, GTLS and KRMN take effect?

The index changes for BrightSpring (BTSG), Chart Industries (GTLS) and Karman Holdings (KRMN) take effect July 17, 2026. According to S&P Dow Jones Indices, all actions occur before the opening of trading on that date.

Is the Baker Hughes (BKR) acquisition of Chart Industries (GTLS) already completed?

The Baker Hughes (BKR) acquisition of Chart Industries (GTLS) is not yet completed but is expected to close July 16, 2026. According to S&P Dow Jones Indices, the deal remains subject to final closing conditions.