InMode (INMD) announced that its Board has approved a share repurchase program of up to 7.68 million ordinary shares. The ordinary share repurchases will be funded with available cash.
Yair Malca, CFO, said: "Based on discussions with tax advisors, the company believes that there will be no tax implications as a result of the existing program. Our strong cash position and the current low valuation triggered the decision of the board to authorize another buyback plan shortly after the previous one ended."
InMode is a global provider of medical technologies. It develops, manufactures, and markets devices harnessing radiofrequency technology.
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