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 – KRMN

+6.44%

9 alerts

+6.44% Session close to close

+8.6% Peak in 23 hr 49 min

$6.63B Market Cap

0.5x Rel. Volume

In the Jul 15 session, KRMN gained 6.44%, reflecting a notable positive market reaction. Argus tracked a peak move of +8.6% during that session. Our momentum scanner triggered 9 alerts that day, indicating moderate trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock moved +6.4% in the session following this news. If a strong upside move followed this S&P ...

Analysis

The stock moved +6.4% in the session following this news. If a strong upside move followed this S&P SmallCap 600 inclusion, it would fit Karman’s history of news-aligned reactions and occur against low reported short positioning. However, the effective S-3ASR shelf and recent resale activity keep dilution and supply overhang risks in focus.

Key Figures

Index change effective date: July 17, 2026 Acquisition expected close date: July 16, 2026

2 metrics

Index change effective date July 17, 2026 Effective prior to the opening of trading

Acquisition expected close date July 16, 2026 Baker Hughes acquisition of Chart Industries pending final conditions

Historical Context

6 past events · Latest: Jul 14 (Positive)

Pattern 6 events

Date	Event	Sentiment	24h Move	Catalyst
Jul 14	Facility expansion	Positive	+1.4%	Announced $2.7M Pennsylvania facility expansion and new advanced manufacturing jobs.
Jun 02	Leadership appointment	Positive	+1.9%	Named first Chief Information and Artificial Intelligence Officer and AI partnership.
Jun 02	Leadership appointment	Positive	+1.9%	Named first Chief Information and Artificial Intelligence Officer and AI partnership.
May 28	Secondary offering pricing	Negative	-12.7%	Selling stockholders priced upsized secondary share offering with no proceeds to company.
May 28	Operational data update	Negative	-12.7%	Provided large active pipeline update in connection with secondary share offering.
May 28	Secondary offering launch	Negative	-12.7%	Launched underwritten secondary public offering by existing stockholders, no proceeds to issuer.

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

Pattern Detected

Recent news reactions have consistently aligned with the positive or negative tone of Karman’s announcements, including secondary offerings and growth investments.

Key Terms

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

4 terms

s&p midcap 400 financial

"BrightSpring Health Services Inc. (NASD: BTSG) will replace Chart Industries Inc. (NYSE: GTLS) 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

"Karman Holdings Inc. (NYSE: KRMN) 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.