LivaNova

Last updated

LivaNova, PLC
Company type Public
Nasdaq:  LIVN
S&P 400 Component
ISIN GB00BYMT0J19
Industry Medical Devices
Founded1987;37 years ago (1987)
Headquarters
  • Legal headquarters: 20 Eastbourne Terrace, London
  • Operational headquarters, North America): 100 Cyberonics Blvd Ste 600, Houston, Texas
Key people
  • Vladimir Makatsaria (CEO)
  • Alex Shvartsburg (CFO)
Products Medical devices for neuromodulation and cardiac surgery
Number of employees
2,900 [1]
Website www.livanova.com

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".

Contents

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]

Related Research Articles

<span class="mw-page-title-main">Heart</span> Organ found inside most animals

The heart is a muscular organ found in most animals. This organ pumps blood through the blood vessels of the circulatory system. The pumped blood carries oxygen and nutrients to the body, while carrying metabolic waste such as carbon dioxide to the lungs. In humans, the heart is approximately the size of a closed fist and is located between the lungs, in the middle compartment of the chest, called the mediastinum.

<span class="mw-page-title-main">Artificial cardiac pacemaker</span> Medical device

An artificial cardiac pacemaker, commonly referred to as simply a pacemaker, is an implanted medical device that generates electrical pulses delivered by electrodes to one or more of the chambers of the heart. Each pulse causes the targeted chamber(s) to contract and pump blood, thus regulating the function of the electrical conduction system of the heart.

<span class="mw-page-title-main">Defibrillation</span> Treatment for life-threatening cardiac arrhythmias

Defibrillation is a treatment for life-threatening cardiac arrhythmias, specifically ventricular fibrillation (V-Fib) and non-perfusing ventricular tachycardia (V-Tach). A defibrillator delivers a dose of electric current to the heart. Although not fully understood, this process depolarizes a large amount of the heart muscle, ending the arrhythmia. Subsequently, the body's natural pacemaker in the sinoatrial node of the heart is able to re-establish normal sinus rhythm. A heart which is in asystole (flatline) cannot be restarted by a defibrillator; it would be treated only by cardiopulmonary resuscitation (CPR) and medication, and then by cardioversion or defibrillation if it converts into a shockable rhythm.

<span class="mw-page-title-main">Artificial heart</span> Mechanical device which replaces the heart

An artificial heart is an artificial organ device that replaces the heart. Artificial hearts are typically used to bridge the time to complete heart transplantation surgery, but research is ongoing to develop a device that could permanently replace the heart in the case that a heart transplant is unavailable or not viable. As of December 2023, there are two commercially available full artificial heart devices; in both cases, they are for temporary use, of less than a year, for total heart failure patients awaiting a human heart to be transplanted into their bodies.

<span class="mw-page-title-main">Automated external defibrillator</span> Portable electronic medical device

An automated external defibrillator or automatic electronic defibrillator (AED) is a portable electronic device that automatically diagnoses the life-threatening cardiac arrhythmias of ventricular fibrillation (VF) and pulseless ventricular tachycardia, and is able to treat them through defibrillation, the application of electricity which stops the arrhythmia, allowing the heart to re-establish an effective rhythm.

<span class="mw-page-title-main">Baylor College of Medicine</span> Medical school in Houston, Texas

Baylor College of Medicine (BCM) is a medical school and research center in Houston, Texas, within the Texas Medical Center, the world's largest medical center. BCM is composed of four academic components: the School of Medicine, the Graduate School of Biomedical Sciences; the School of Health Professions, and the National School of Tropical Medicine.

Abbott Laboratories is an American multinational medical devices and health care company with headquarters in Green Oaks, Illinois, United States. The company was founded by Chicago physician Wallace Calvin Abbott in 1888 to formulate known drugs; today, it sells medical devices, diagnostics, branded generic medicines and nutritional products. It split off its research-based pharmaceuticals business into AbbVie in 2013.

<span class="mw-page-title-main">Medtronic</span> Irish tax-registered medical device company

Medtronic plc is an Irish medical device company. The company's operational and executive headquarters are in Minneapolis, Minnesota, and its legal headquarters are in Ireland due to its acquisition of Irish-based Covidien in 2015. While it primarily operates in the United States, it operates in more than 150 countries and employs over 90,000 people. It develops and manufactures healthcare technologies and therapies.

<span class="mw-page-title-main">Boston Scientific</span> U.S.-based medical device company

Boston Scientific Corporation ("BSC"), headquartered in Watertown, Massachusetts and incorporated in Delaware, is a biomedical/biotechnology engineering firm and multinational manufacturer of medical devices used in interventional medical specialties, including interventional radiology, interventional cardiology, peripheral interventions, neuromodulation, neurovascular intervention, electrophysiology, cardiac surgery, vascular surgery, endoscopy, oncology, urology and gynecology. Boston Scientific is widely known for the development of the Taxus Stent, a drug-eluting stent which is used to open clogged arteries. With the full acquisition of Cameron Health in June 2012, the company also became notable for offering a minimally invasive implantable cardioverter-defibrillator (ICD) which they call the EMBLEM subcutaneous implantable defibrillator (S-ICD).

Guidant Corporation, part of Boston Scientific and Abbott Labs, designs and manufactures artificial cardiac pacemakers, implantable cardioverter-defibrillators, stents, and other cardiovascular medical products. Their company headquarters is located in Indianapolis, Indiana. Their main competitors are Medtronic, St. Jude Medical, and Johnson and Johnson.

St. Jude Medical, Inc. was an American global medical device company headquartered in Little Canada, Minnesota, U.S., a suburb of Saint Paul. The company had more than 20 principal operations and manufacturing facilities worldwide with products sold in more than 100 countries. Its major markets include the United States, Europe, Latin America and Asia-Pacific. The company was named after Jude the Apostle, the patron saint of lost causes.

<span class="mw-page-title-main">Houston Methodist Hospital</span> Hospital in Houston, Texas, USA

Houston Methodist Hospital is the flagship quaternary care hospital of Houston Methodist academic medical center. Located in the Texas Medical Center in Houston, Texas, Houston Methodist Hospital was established in 1919 during the height of the Spanish influenza epidemic as an outreach ministry of Methodist Episcopal Church. Houston Methodist comprises eight hospitals, an academic institute, a primary care group, and more than 300 locations throughout greater Houston.

Cordis is an American international medical company that develops and manufactures medical devices for diagnostics and interventional procedures to treat coronary and peripheral vascular diseases. The company operates in the North America, Europe, Middle East, Africa, Asia-Pacific, and Latin America markets.

The Sorin Group was a medical products group based in Italy, with significant operations in France, the United States, and Japan, specializing in cardiac devices. Its product lines include replacement heart valves, oxygenators, perfusion tubing sets, cardiothoracic surgery accessories, data monitoring, heart-lung machines, autotransfusion systems, and cannulae, and a line of blood management products.

Alois A. Langer is an American biomedical engineer best known as one of the co-inventors of the Implantable Cardioverter Defibrillator (ICD).

<span class="mw-page-title-main">Artivion</span>

Artivion, Inc. is a distributor of cryogenically preserved human tissues for cardiac and vascular transplant applications and develops medical devices. Among its products are human heart valves, which are treated to remove excess cellular material and antigens, and BioGlue surgical adhesive.

CLARIO formerly ERT and Bioclinica is a contract research organization specializing in clinical services and customizable medical devices to biopharmaceutical and healthcare organizations. It offers centralized cardiac safety and respiratory efficacy services in drug development and also collects, analyzes and distributes electronic patient-reported outcomes (ePRO) in multiple modalities across all phases of clinical research.

DiaSorin is an Italian multinational biotechnology company that produces and markets in vitro diagnostics reagent kits used in immunodiagnostics and molecular diagnostics and since July 2021, it is also active in the Life Science business. The group was founded in 2000 and is headquartered in Saluggia, Italy. Its production is at several plants located in Europe and the United States: Saluggia and Gerenzano (Italy), Dietzenbach (Germany), Stillwater, Minnesota (US), Dartford (UK). Following the acquisition of Luminex, the company acquired five additional production plants located in the United States and in Canada (Toronto). The company is a constituent of the FTSE MIB index.

<span class="mw-page-title-main">Fiat Chrysler Automobiles</span> Multinational automotive manufacturing conglomerate

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MicroPort is a multinational medical technology developer and manufacturer that is primarily headquartered in Shanghai, China. It mainly designs and produces medical devices for a range of fields including cardiology, interventional radiology, orthopedics, electrophysiology, and surgical management. MicroPort is considered one of the global Medtech Big 100 and has been consistently known as the leading spender in research and development by percentage of revenue.

References

  1. "Company about page".
  2. 1 2 "Merged Houston company begins trading under new name". Houston Business Journal. 19 October 2015. Retrieved 19 October 2015.
  3. "From Fiat to heart valves". INSEAD. 26 April 2012. Retrieved 19 October 2015.
  4. "Houston's Top Workplaces - 2012" (PDF). Houston Chronicle. 11 November 2012. Retrieved 19 October 2015.
  5. 1 2 "Deal of the Week: Houston's Cyberonics teams up with Italian firm for $2.7B". Houston Chronicle. 6 May 2015. Retrieved 19 October 2015.
  6. "BRIEF-Livanova To Acquire Imthera Medical". Reuters. 5 December 2017. Retrieved 5 December 2017.
  7. 1 2 "LivaNova closes $190 CRM sale to MicroPort". Mass Device. 30 April 2018.
  8. "LivaNova reaches agreement to sell its heart valve business". Cardiovascular News. 3 December 2020.
  9. "London-based LivaNova is picking up another Pittsburgh biotech firm". Pittsburgh Post-Gazette. 6 May 2022. Retrieved 9 May 2022.
  10. Peter Green (17 April 2023). "LivaNova CEO quits as firm announces higher-than-expected preliminary earnings". MedTech Dive.
  11. "LivaNova Announces Vladimir A. Makatsaria as CEO and Board Director". MedTech Dive. 1 March 2024.
  12. "LivaNova 2021 UK Annual Report" . Retrieved 28 March 2023.
  13. Conor Hale (3 December 2020). "LivaNova to exit heart valve business via €60M carve-out deal". Fierce Biotech.
  14. "Therapeutic Areas for the Head and Heart | LivaNova". www.livanova.com. Retrieved 16 November 2023.
  15. Reif-Leonhard, C.; Reif, A.; Baune, B. T.; Kavakbasi, E. (1 September 2022). "Vagusnervstimulation bei schwer zu behandelnden Depressionen". Der Nervenarzt (in German). 93 (9): 921–930. doi:10.1007/s00115-022-01282-6. ISSN   1433-0407. PMC   9452433 . PMID   35380222.