The Troy medical device maker Somanetics Corp. (NASDAQ: SMTS) said Friday that its board has authorized the company has authorized another $15 million share repurchase.

The repurchase comes on top of the already authorized $15 million.

The company said it would make purchases on the open market or in privately negotiated deals at its discretion.

From April 3, the date its initial share repurchase program started, through Thursday, May 8, the company reported it had spent about $12.6 million to buy back 787,061 of its shares at an average price of $15.97 per share.

As of May 8, Somanetics had 12,856,392 shares outstanding.

The company said it will fund its newest repurchases with existing cash it already has on hand.