LifePoint Hospitals, Brentwood, Tenn., said its board of directors has approved a $150 million share-repurchase program for the next 12 months. If LifePoint spends the full amount in the repurchase program, it could take about 9% of the companys shares out of circulation at its current stock price of around $30.
The company may pay for the program with its available cash, cash from operations and its credit facility, according to LifePoint. The company operates 49 hospitals in 18 states. -- by Vince Galloro
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