The Troy medical device maker Somanetics Corp. (NASDAQ: SMTS) Tuesday announced that its board had authorized the company to repurchase up to an additional $15 million of its common shares.

The move brings the company's total share repurchase plan to $45 million.

Since April 3, when the initial share repurchase program commenced, through June 30,  Somanetics has spent approximately $27.7 million to purchase 1,631,329 shares at an average purchase price of $16.97 per share.

As of June 30, Somanetics had 12,014,124 shares outstanding. The company expects to fund its repurchase program with existing cash and cash equivalents on hand.

More at www.somanetics.com.