Concord Medical Services Holdings Ltd. plans to buy back up to $20 million of its American depositary shares.
The company, which operates radiation treatment and medical imaging centers in China, said Friday that the repurchase program will be funded with available working capital.
Concord Medical had about 47.5 million outstanding ADSs and approximately $64.7 million in cash as of June 30.
Last month the company announced that its second-quarter earnings climbed 11 percent, as patient volumes grew, and it saw a gain from a new cancer center.
Shares of the company closed Thursday at $3.40. Over the past year, they have traded between $3.14 and $7.99.