Medical Waste firm Sharps Compliance Corp. has agreed to repurchase up to $3 million of its common stock.

The Houston-based Sharps said in a news release it will buy outstanding stock during the next two years. Sharps will fund the purchases using the company’s available cash balance and cash generated from operations. The company said it is not planning to acquire any specific amount.

"The board's decision for a stock repurchase program affirms the confidence we have in the company's strategic direction and market opportunities,” said David Tusa, Sharps president and CEO. “With our solid balance sheet, this repurchase authorization offers an opportunity to return value to shareholders while retaining the flexibility to fund our growth."