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InfuSystem Holdings board approves $5M stock buyback program

InfuSystem Holdings Inc. said its board of directors approved a $5 million stock repurchase program.

The program allows the Madison Heights, Mich.-based company to buy back up to $5 million of its outstanding common stock through 2020.

The repurchase program is subject to market conditions, capital needs and satisfaction of covenants under InfuSystem's existing credit agreement.

The company's CEO, Rich DiIorio, said the approval reflects the board's confidence in InfuSystem's business.

InfuSystem Holdings provides infusion pumps, and related products and services.