Cerner launches share repurchase program

Cerner has announced a stock repurchase program, authorizing the repurchase of up to $245 million of its common stock.

The program was authorized Sept. 4. Based on that date's closing price, 4.1 million shares — equal to 1.2 percent of the company's outstanding shares — could be repurchased.

The repurchase will be funded from working capital and is intended to offset some of the dilution created by future equity grants.

"At current prices, we believe the repurchase of our stock is a good use of funds," said Neal Patterson, chairman, CEO and co-founder of Cerner. "This program reflects our commitment to enhancing long-term shareholder value and our confidence in Cerner's prospects as a leader in the growing healthcare industry."

More articles on Cerner:

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