Haemonetics to buy back up to $40 million of common stock

By Elaine Rigoli

Tampa, Fla., Aug. 10 - Haemonetics Corp. said its board of directors has authorized the repurchase of up to $40 million of the company's common stock. Repurchases will occur under a 10b5-1 plan.

"Haemonetics remains committed to its strategy of expanding the business. With our strong cash balance and anticipated future cash flows, we can continue to create shareholder value by both investing in the business as well as returning cash to our shareholders," chairman Ronald A. Matricaria said in a news release.

Haemonetics, based in Braintree, Mass., designs, manufactures and markets automated blood- processing systems.

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