ROCHESTER HILLS, Mich. – InfuSystem Holdings, Inc. (NYSE American: INFU), a prominent national health care service provider, today announced the launch of a new stock repurchase initiative. The company’s Board of Directors has authorized a plan to buy back up to $20 million of its outstanding common stock, with the program set to continue through June 30, 2026.
This new authorization replaces the previous buyback plan that was due to expire on June 30, 2024. Under the prior program, InfuSystem repurchased about 550 thousand shares, totaling approximately $6.2 million. The repurchases will be conducted in compliance with federal securities laws, primarily through open market transactions, but also potentially through private deals.
InfuSystem’s CEO, Richard DiIorio, expressed that the authorization reaffirms the company’s commitment to its buyback policy and is indicative of the Board’s confidence in the company’s operational stability and financial health.
DiIorio highlighted the stock repurchase program as a testament to the company’s solid operations and robust balance sheet, as well as its positive outlook for the future. He mentioned that while strategic investments for growth remain the primary use of capital, the program offers flexibility to repurchase shares under favorable market conditions.
The company operates under a two-platform model. The first platform, Patient Services, offers solutions for clinic-to-home healthcare involving complex durable medical equipment, focusing on Oncology, Pain Management, and Wound Therapy.
The second platform, Device Solutions, complements Patient Services by providing direct payer rentals, sales of pumps and consumables, and biomedical services and repairs. InfuSystem is headquartered in Michigan and maintains a local presence across the United States and Canada.
The announcement contains forward-looking statements, which include expectations about the share repurchase program and the company’s strategic plans. These statements are subject to various risks and uncertainties that could cause actual results to differ materially from current projections.
This news article is based on a press release statement from InfuSystem Holdings, Inc.
InvestingPro Insights
As InfuSystem Holdings, Inc. (NYSE American: INFU) embarks on its new stock repurchase program, a glance at the company’s financials through InvestingPro reveals several key metrics that may interest investors.
With a Price/Earnings (P/E) Ratio of 218.29,…
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