Agiliti Announces Share Repurchase Plan
August 21 2023 - 4:05PM
Business Wire
Agiliti Inc. (NYSE: AGTI) (“Agiliti”), a nationwide provider of
healthcare technology management and service solutions to the
United States healthcare industry, today announced that its board
of directors approved a share repurchase program that grants the
Company authority to repurchase up to $50 million of shares of the
Company’s common stock (exclusive of any fees, commissions or other
expenses related to such repurchases), over a 12-month period.
“The Board’s authorization of a share repurchase program
reflects confidence in the Company’s long-term strategy and the
value we see in our shares relative to our future outlook. We
remain committed to driving value for our customers, employees and
shareholders and executing on our critical mission of ensuring that
healthcare providers have access to the essential medical equipment
needed for quality patient care,” said Tom Boehning, Chief
Executive Officer.
Repurchases may be made at management’s discretion from time to
time on the open market, through privately negotiated transactions,
or through an accelerated share repurchase, or in any other manner
permitted by applicable federal and state securities laws and
regulations. There is no minimum number of shares, if any, that the
Company is required to repurchase and the Repurchase Plan may be
suspended or discontinued at any time without prior notice.
Repurchases by the Company are subject to available liquidity,
general market and economic conditions, alternate uses for the
capital and other factors.
About Agiliti
Agiliti is an essential service provider to the U.S. healthcare
industry with solutions that help support a more efficient, safe
and sustainable healthcare delivery system. Agiliti serves more
than 10,000 national, regional and local acute care and alternate
site providers across the U.S. For more than eight decades, Agiliti
has delivered medical equipment management and service solutions
that help healthcare providers reduce costs, increase operating
efficiencies and support optimal patient outcomes.
Forward-Looking Statements
Certain statements in this press release are forward-looking in
time, including the Company’s long-term strategy and outlook, the
amount, timing and method of the Company’s potential share
repurchases, and the duration, suspension or cancellation of the
Repurchase Plan, and involve risks and uncertainties. The following
factors, among others, could adversely affect our forward-looking
statements, causing our actual results to differ materially from
those expressed in any forward-looking statements: the possibility
that the Repurchase Plan may be suspended or discontinued; economic
factors and market conditions and their impact on the Company’s
ability to effect share repurchases; negative reaction of our
investors, our suppliers, our customers or our employees to the
announcement of the Repurchase Plan; market volatility of our
common stock as a result of the Repurchase Plan; our history of net
losses and substantial interest expense; our need for substantial
cash to operate and expand our business as planned; our substantial
outstanding debt and debt service obligations; restrictions imposed
by the terms of our debt; and other Risk Factors as detailed in our
most recent annual report on Form 10-K and our other filings with
the Securities and Exchange Commission.
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Solebury Strategic Communications ir@agilitihealth.com
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