ST. PAUL, Minn.--(BUSINESS WIRE)--Synovis Life Technologies, Inc. (Nasdaq: SYNO), a leading biomaterial and surgical products company, today announced that its board of directors has approved a program for the company to repurchase up to 1 million shares of its common stock, in addition to the approximately 66,000 shares remaining to be purchased under an existing share repurchase program approved by the board in September 2009. Synovis plans to make purchases in either the open market or through private transactions from time to time, in accordance with Securities and Exchange Commission regulations. The timing and extent to which the company buys back shares will depend on market conditions and other corporate considerations. The repurchase program does not have an expiration date. As of Jan. 31, 2010, the company had $56.5 million in cash, cash equivalents and investments. This represents the third stock buyback Synovis has announced in less than two years.
