March 9, 2010 (FinancialWire) — Synovis Life Technologies, Inc. (NASDAQ: SYNO), a biomaterial and surgical products firm, said that its board of directors has approved a program for the company to repurchase up to one million shares of its common stock, in addition to the roughly 66,000 shares remaining to be purchased under an existing share repurchase program approved by the board in September 2009.

The repurchase program does not have an expiration date. As of Jan. 31, 2010, the company had $56.5 million in cash, cash equivalents and investments. This represents the third stock buyback Synovis has announced in less than two years.

Minnesota-based Synovis Life Technologies is a medical device company that develops, manufactures and markets mechanical and biological products used by several surgical specialties to facilitate the repair and reconstruction of soft tissue damaged or destroyed by disease or injury.

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