Sensus Healthcare Announces New $3 Million Share Repurchase Program
08 August 2023 - 2:30PM
Sensus Healthcare, Inc. (Nasdaq: SRTS), a medical device company
specializing in highly effective, non-invasive, minimally-invasive
and cost-effective treatments for oncological and non-oncological
conditions, announces that its Board of Directors has authorized a
new share repurchase program under which the Company may repurchase
up to $3.0 million of its common stock.
“Given our optimism about the future of Sensus,
we believe repurchasing our own stock is one of the best uses of
our cash,” said Joe Sardano, chairman and chief executive officer
of Sensus Healthcare. “We will continue to deploy cash
judiciously to fund initiatives that will provide the highest
returns, and are fortunate to have a balance sheet that allows for
multiple avenues for capital allocation.”
The timing and amount of any share repurchases
under this program will be determined by Sensus Healthcare’s
management at its discretion based upon its ongoing assessments of
the capital needs of the business, the market price of Sensus’
common stock and general market conditions. Share repurchases under
this program may be made through a variety of methods including
open-market purchases, block trades, exchange transactions or any
combination thereof. The program does not obligate Sensus to
acquire any particular amount of its common stock, and the share
repurchase program may be suspended or discontinued at any time at
the company’s discretion.
About Sensus Healthcare
Sensus Healthcare, Inc. is a medical device
company specializing in highly effective, non-invasive, minimally
invasive and cost-effective treatments for both oncological and
non-oncological conditions. Sensus offers its proprietary
low-energy X-ray technology known as superficial radiation therapy
(SRT), which is the culmination of more than a decade of research
and development, to treat non-melanoma skin cancers and keloids
with its SRT-100™, SRT-100+™ and SRT-100 Vision™ systems. With its
portfolio of innovative medical device products, including
aesthetic lasers and its needleless TransDermal Infusion System™,
Sensus provides revolutionary treatment options to enhance the
quality of life of patients around the world.
For more information, visit
www.sensushealthcare.com.
Forward-Looking Statements
This press release includes statements that are,
or may be deemed, ''forward-looking statements.'' In some cases,
these statements can be identified by the use of forward-looking
terminology such as "believes," "estimates," "anticipates,"
"expects," "plans," "intends," "may," "could," "might," "will,"
"should," “approximately,” "potential" or negative or other
variations of those terms or comparable terminology, although not
all forward-looking statements contain these words.
Forward-looking statements involve risks and
uncertainties because they relate to events, developments, and
circumstances relating to Sensus, our industry, and/or general
economic or other conditions that may or may not occur in the
future or may occur on longer or shorter timelines or to a greater
or lesser degree than anticipated. Although we believe that we have
a reasonable basis for each forward-looking statement contained in
this press release, forward-looking statements are not guarantees
of future performance, and our actual results of operations,
financial condition and liquidity, and the development of the
industry in which we operate may differ materially from the forward
looking statements contained in this press release, as a result of
the following factors, among others: our ability to return to
profitability; our ability to sell the number of SRT units we
anticipate for the balance of 2023; the possibility that
inflationary pressures continue to impact our sales; the level and
availability of government and/or third party payor reimbursement
for clinical procedures using our products, and the willingness of
healthcare providers to purchase our products if the level of
reimbursement declines; the regulatory requirements applicable to
us and our competitors; our ability to efficiently manage our
manufacturing processes and costs; the risks arising from doing
business in China and other foreign countries; legislation,
regulation, or other governmental action that affects our products,
taxes, international trade regulation, or other aspects of our
business; concentration of our customers in the U.S. and China,
including the concentration of sales to one particular customer in
the U.S.; our ability to obtain and maintain the intellectual
property needed to adequately protect our products, and our ability
to avoid infringing or otherwise violating the intellectual
property rights of third parties; and other risks described from
time to time in our filings with the Securities and Exchange
Commission, including our Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q.
To date, we do not expect that the Russian
invasion of Ukraine and global geopolitical uncertainty have had
any particular impact on our business, but we continue to monitor
developments and will address them in future disclosures, if
applicable.
In addition, even if future events,
developments, and circumstances are consistent with the
forward-looking statements contained in this press release, they
may not be predictive of results or developments in future periods.
Any forward-looking statements that we make in this press release
speak only as of the date of such statement, and we undertake no
obligation to update such statements to reflect events or
circumstances after the date of this press release, except as may
be required by applicable law. You should read carefully our
"Introductory Note Regarding Forward-Looking Information" and the
factors described in the "Risk Factors" section of our periodic
reports filed with the Securities and Exchange Commission to better
understand the risks and uncertainties inherent in our
business.
Contact: LHA Investor
RelationsKim Sutton Golodetz212-838-3777kgolodetz@lhai.com
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