LivaNova, PLC is an American medical device manufacturer domiciled in the UK. The company develops devices used for cardiac surgery and
neuromodulation
Neuromodulation is the physiological process by which a given neuron uses one or more chemicals to regulate diverse populations of neurons. Neuromodulators typically bind to metabotropic, G-protein coupled receptors (GPCRs) to initiate a second ...
. The company was formed in 2015 by a $2.7B merger between
Houston, Texas
Houston (; ) is the most populous city in Texas, the most populous city in the Southern United States, the fourth-most populous city in the United States, and the sixth-most populous city in North America, with a population of 2,304,580 in ...
-based Cyberonics, Inc. and
Milan, Italy
Milan ( , , Lombard language, Lombard: ; it, Milano ) is a city in northern Italy, capital of Lombardy, and the List of cities in Italy, second-most populous city proper in Italy after Rome. The city proper has a population of about 1.4 ...
-based
Sorin S.p.a. 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
Fiat Automobiles S.p.A. (, , ; originally FIAT, it, Fabbrica Italiana Automobili di Torino, lit=Italian Automobiles Factory of Turin) is an Italian automobile manufacturer, formerly part of Fiat Chrysler Automobiles, and since 2021 a subsidiary ...
and Montedison (now under
Edison). The name 'Sorin' is an acronym for Società Ricerche Impianti Nucleari (Company for Nuclear Plant Research). Later the company became known as Sorin Group.
In 1987, Cyberonics, Inc. was founded in Houston, United States.
In March 2015, the two companies announced they would be merging in a $2.7B transaction.
The transaction closed and the company began trading under the new stock symbol on Oct. 19. 2015.
In December 2017, LivaNova announced it would acquire Imthera Medical for approximately $224M.
In 2018, LivaNova sold its cardiac rhythm management business unit to
MicroPort
MicroPort is a global medical device developer and manufacturer that is headquartered in Shanghai, China. It designs and produces products for a range of medical fields including cardiology, interventional radiology, orthopedics, electrophysiolog ...
for $190M.
In 2020, LivaNova announced the sale of its heart valve (HV) business
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.
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,
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.
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.
In December 2020, LivaNova announced the disposal of its heart valve (HV) business.
References
External links
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{{Finance links
, name = LivaNova
, symbol = LIVN
, sec_cik = LIVN
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, google = LIVN
Manufacturing companies based in London
Medical technology companies of the United Kingdom
2015 establishments in England
Companies listed on the Nasdaq