China Medical Announces $30 Million Share Buyback

China Medical Technologies (中国医疗技术公司) announced a $30 million share buyback program. The program will begin on October 1 and run for one year. Don’t worry about whether China Medical can afford the $30 million. At the end of its June quarter, the company reported a cash balance of $227 million, and its current market capitalization is $512 million, so the buyback represents only about 6% of the outstanding shares. More details... Stock Symbol: (NSDQ: CMED)