LivaNova

LivaNova, PLC is an American-Italian, British Domiciled medical device manufacturer. 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.[1] The company trades on the NASDAQ stock exchange under the ticker symbol "LIVN".

LivaNova, PLC
TypePublic
NASDAQ: LIVN
S&P 400 Component
ISINGB00BYMT0J19
IndustryMedical Devices
FoundedLondon, England, UK (2015)
HeadquartersLondon
Key people
Damien McDonald, CEO
ProductsMedical devices for cardiac surgery and neuromodulation
Websitewww.livanova.com

History

Cyberonics, Inc. was founded in Houston, United States in 1987.[2] Sorin, originally known as Sorin Biomedica and later Sorin Group, was founded in 1956 by Fiat and Montedison, Italy's two largest industrial groups at that time. The name is an acronym for Società Ricerche Impianti Nucleari (Company for Nuclear Plant Research).[3] In March 2015, the companies announced they would be merging in a $2.7B transaction.[4] The transaction closed and the company began trading under the new stock symbol on Oct. 19. 2015.[1] In December 2017, LivaNova announced it would acquire Imthera Medical for approximately $224M.[5] In 2018, LivaNova sold its cardiac rhythm management business unit to MicroPort for $190M.[6]

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 cardiac surgery, with its operating HQ in Italy, cardiac rhythm management, with its operating HQ in France, and neuromodulation, with its operating HQ in Houston.[4] In 2018 the cardiac rhythm management business unit was sold to focus on the remaining two.[7]


References
  1. "Merged Houston company begins trading under new name". Houston Business Journal. 2015-10-19. Retrieved 2015-10-19.
  2. "Houston's Top Workplaces - 2012" (PDF). Houston Chronicle. 2012-11-11. Retrieved 2015-10-19.
  3. "From Fiat to heart valves". INSEAD. 2012-04-26. Retrieved 2015-10-19.
  4. "Deal of the Week: Houston's Cyberonics teams up with Italian firm for $2.7B". Houston Chronicle. 2015-05-06. Retrieved 2015-10-19.
  5. "BRIEF-Livanova To Acquire Imthera Medical". Reuters. 2017-12-05. Retrieved 2017-12-05.
  6. "LivaNova closes $190 CRM sale to MicroPort". Mass Device.
  7. "LivaNova closes $190 CRM sale to MicroPort". Mass Device.
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