A Medical Device Daily
LCA-Vision (Cincinnati), a provider of laser vision correction services under the LasikPlus brand, reported that it has completed its existing share repurchase plan. Under the plan, the company repurchased a total of 1 million shares between May 17, 2005 and Nov. 21, 2006 for about $38.5 million at an average price per share of $38.52.
The company's board of directors also authorized a new share repurchase plan last week, under which up to $50 million of LCA-Vision common shares may be repurchased.
Under this new authorization, the company may purchase shares from time to time at prevailing prices in the open market, subject to market conditions, and as permitted by securities laws and other legal requirements.
As of Sept. 30, the company had about 20.8 million shares outstanding, and cash equivalents and short-term investments of about $130 million.
Odyssey HealthCare (Dallas), one of the largest providers of hospice care in the U.S., reported that it intends to repurchase up to $10 million of its common stock.
The company said that it will conduct the stock repurchase program in the open market over the next twelve months. The timing and the amount of any repurchase of shares during the twelve-month period will be determined by company management based on its evaluation of market conditions and other factors. Odyssey said it had about 34.3 million shares outstanding as of Sept. 30.
Odyssey has 82 Medicare-certified hospice programs in 30 states.