Amicas authorizes stock repurchase plan

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The board of directors for Amicas has authorized the repurchase of up to $25 million of the company's common stock from time to time in open market or privately negotiated transactions.

Stephen Kahane, MD, CEO and chairman of Amicas, said the company chose to repurchase under Rule 10b5-1 because a 10b5-1 plan allows it to focus on the business and provides flexibility to repurchase shares when the company may otherwise be precluded from doing so under insider trading laws.

At this time, the Boston-based company believes that the next update regarding the stock repurchase program will be at its regularly scheduled year-end earnings call.