PLEASANTON, Calif.—The Cooper Companies Inc., (NYSE:COO) a leading vision care company, announced earlier this week that its board of directors has approved a $500 million increase in the company’s share repurchase program.

The share repurchase program now totals $1 billion and has approximately $618.5 million of remaining availability. There is no expiration date on the program, according to the announcement.

Cooper, a global medical device company, operates through two business units, CooperVision, which is committed to developing a wide range of high-quality products for contact lens wearers and providing focused practitioner support, and CooperSurgical, which offers a diversified portfolio of products and services focusing on women’s health, fertility and diagnostics, according to its announcement.