CPSI (CPSI) Extends $30M Share Buyback

CPSI (NASDAQ: CPSI), a healthcare solutions company (the “Company”), today announced that its Board of Directors extended the expiration date of its existing $30 million stock repurchase program to September 4, 2024. The repurchase program was originally approved by the Company’s Board of Directors on September 4, 2020, and was set to expire on September 4, 2022, prior to this extension. Under this program, the Company has repurchased 146,200 shares of common stock as of August 2, 2022, with an aggregate value of $4.4 million, and $25.6 million remains authorized for future repurchases.

The Company has funded, and will continue to fund, the stock repurchase program from a combination of cash on hand and cash provided by operating activities. Stock repurchases may be made through open market purchases, privately negotiated transactions, or otherwise in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended. The program does not obligate the Company to acquire any specific number of shares of common stock and the program may be modified or suspended at any time. The total number and value of the shares to be repurchased will depend on the performance of the Company’s stock price and other market conditions.

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