ROCHESTER HILLS, Michigan—InfuSystem Holdings, Inc. (InfuSystem or the company), a national health care service provider, facilitating outpatient care for durable medical equipment (DME) manufacturers and health care providers, announced that the company’s Board of Directors has approved a stock repurchase program authorizing the company to repurchase up to $20 million of the company’s outstanding common stock through June 30, 2026.
The program supersedes the previous authorization which was set to expire on June 30, 2024. Under the previous authorization, the company repurchased approximately 550 thousand shares of stock for approximately $6.2 million. Repurchases will be made through open market purchases, private transactions, or otherwise in accordance with applicable federal securities laws, including Rule 10b-18 under the Securities Exchange Act of 1934 (Exchange Act).
“This authorization will continue the company’s long-standing buyback policy and reauthorize the programs that we have used when appropriate to enhance shareholder value," Richard DiIorio, chief executive officer of InfuSystem, said. "I believe the stock repurchase program highlights confidence in the company’s continued solid operations, the strength of our balance sheet and our outlook and guidance for the rest of 2024 and beyond. Our top priority for use of capital remains to make strategic investments that position the company for sustainable growth, although this program provides us with the flexibility to be opportunistic in repurchasing shares when valuations become attractive.”
