LivaNova

LivaNova, plc
Company type	Public
Traded as	Nasdaq: LIVN; S&P 400 Component
ISIN	GB00BYMT0J19
Industry	Medical Devices
Founded	1987; 37 years ago
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
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".

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]