LivaNova, plc is an Italian-American medical device manufacturer based in the UK. The company develops devices used for cardiac surgery and neuromodulation. The company was formed in 2015 by a $2.7B merger between Houston, Texas-based Cyberonics, Inc. and Milan, Italy-based Sorin S.p.a.[2] The company trades on the NASDAQ stock exchange under the ticker symbol "LIVN".
 | |
| Company type | Public |
|---|---|
| Nasdaq: LIVN S&P 400 Component | |
| ISIN | GB00BYMT0J19 |
| Industry | Medical Devices |
| Founded | 1987 |
| Headquarters | |
Key people | |
| Products | Medical devices for neuromodulation and cardiac surgery |
Number of employees | 2,900[1] |
| Website | www |
History
In 1956, Sorin Biomedica was founded by Italy's two largest industrial groups at that time: Fiat and Montedison (now under Edison). The name 'Sorin' is an acronym for Società Ricerche Impianti Nucleari (Company for Nuclear Plant Research).[3] Later the company became known as Sorin Group.
In 1987, Cyberonics, Inc. was founded in Houston, United States.[4]
In March 2015, the two companies announced they would be merging in a $2.7B transaction.[5] The transaction closed and the company began trading under the new stock symbol on Oct. 19. 2015.[2] In December 2017, LivaNova announced it would acquire Imthera Medical for approximately $224M.[6]
In 2018, LivaNova sold its cardiac rhythm management business unit to MicroPort for $190M.[7]
In 2020, LivaNova announced the sale of its heart valve (HV) business[8]
In May 2022, Livanova announced the acquisition of Pittsburgh based biotechnology company ALung Technologies Inc. LivaNova PLC will acquire the 97% interest in privately held ALung that it doesn’t currently own for the $10 million deal.[9]
In April 2023, CEO Damien McDonald resigned.[10]
On March 1, 2024, Vladimir Makatsaria was appointed LivaNova's new CEO and Board Director.[11]
Business units
The new combined company announced in May 2015 that it was focused on three product categories and will operate as three business units. The three units are: neuromodulation, with its operating HQ in Houston;[5] cardiac surgery, with its operating HQ in Italy; cardiac rhythm management, with its operating HQ in France.
In 2018, the cardiac rhythm management business unit was sold to focus on the remaining two.[7]
In March 2020, LivaNova established Epsy Health, a digital health unit aimed at empowering patients, caregivers and healthcare providers in their journey for the treatment of epilepsy.[12]
In December 2020, LivaNova announced the disposal of its heart valve (HV) business.[13]
LivaNova provides vagus nerve stimulation products.[14][15]
References
External links
- Business data for LivaNova: