This is the error, which you get:
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(Cannot contact the database server)
This error definitely is not output by MediaWiki. According to the HTTP header it seems to be output by the server:
HTTP/1.0 500 Internal Server Error =>
Date => Tue, 23 Jun 2015 11:52:29 GMT
Server => LiteSpeed
Is it possible that together with the PHP upgrade the host also changed something with the MySQL server? E.g. that they changed the server and it now is available under a different IP address? That would be relevant for the value of $wgDBserver. Please also double check the MySQL username and password, which you have provided in LocalSettings.php. A mistake there can also cause this problem.