ST. PAUL, Minn.--(BUSINESS WIRE)--Synovis Life Technologies, Inc. (Nasdaq: SYNO), a manufacturer of implantable biomaterials and other surgical products, today announced that its board of directors has approved a program for the company to repurchase up to one million shares of its common stock. 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 April 30, 2008, the company had $68.9 million in cash and cash equivalents, as well as $2.9 million in restricted cash and $10.3 million in auction rate securities classified as long-term investments.
