LivaNova today announced positive outcomes from a study of its nerve stimulator system for treating sleep apnea. The company said its OSPREY clinical trial achieved a positive predictive outcome and concluded enrollment earlier than anticipated. This means the company projects a greater than 97.5% probability that OSPREY successfully meets its primary endpoint. London-based LivaNova’s OSPREY […]
LivaNova
LivaNova prices $300M offering
LivaNova announced that it priced an offering of convertible senior notes worth $300 million in total. The company plans to offer the notes, due 2029, to qualified institutional buyers. LivaNova also granted initial purchasers an option to purchase up to an additional $45 million in notes. This option comes within a 13-day period beginning on […]
LivaNova stock rises on strong Q4, massive bottom-line uptick
LivaNova shares got a boost today on fourth-quarter results that came in well ahead of the consensus forecast. Shares of LIVN ticked up nearly 9% at $57.28 apiece in mid-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down 0.4%. The London-based medtech company […]
LivaNova to lay off 137 in Pennsylvania
LivaNova plans to lay off 137 employees at its Pittsburgh, Pennsylvania location by the end of this year. Shares of LIVN fell 0.7% at $50.37 apiece in midday trading today. The Pennsylvania Dept. of Labor and Industry included LivaNova in its January notices under the Worker Adjustment and Retraining Notification (WARN) Act. Layoffs began taking […]
Layoffs in medtech: These companies recently reduced their workforce
The workforce reduction trend has swept the economy recently, and unfortunately, the medtech space is not immune to layoffs. You’ve probably read about the ongoing layoffs sweeping the tech industry, media and more. For instance, Yahoo, Disney, Zoom and more all reported workforce reductions as companies across industries grapple with economic pressures. Think inflation, supply […]
LivaNova picks longtime J&J exec as new CEO
LivaNova announced today that its board of directors appointed Vladimir A. Makatsaria as its CEO and a member of the board. The appointment goes into effect on March 1, 2024. He succeeds Bill Kozy, who took over the CEO role on an interim basis in April 2023 when Damien McDonald resigned from the corner office. […]
LivaNova to wind down advanced circulatory support unit, focus on cardiopulmonary, neuromod
LivaNova announced today that it intends to begin winding down its advanced circulatory support (ACS) business unit. The orderly wind-down is part of an effort to focus on the company’s core cardiopulmonary (CP) and neuromodulation units. ACS generated approximately just 4% of LivaNova’s net revenue for the nine months ended Sept. 30, 2023. The company […]
Another medtech company reports a cybersecurity incident
LivaNova says it’s the latest victim of a cybersecurity incident. The London-based device developer disclosed the cybersecurity incident in a Securities and Exchange Commission filing this week, saying the incident disrupted portions of its information technology systems and business operations. “Promptly after detecting the issue, the company began an investigation with assistance from external cybersecurity […]
LivaNova adds former NuVasive CEO to its board
LivaNova announced today that it appointed J. Christopher Barry as a new board director. Barry’s appointment becomes effective today and he joins the board’s Audit and Compliance Committee. In turn, Andrea Saia intends to retire from the board on Dec. 31, 2023. Saia initially joined the board of the London-based medtech company as a director […]
LivaNova president of cardiopulmonary is retiring
LivaNova announced today that Marco Dolci intends to retire from his position as president of the cardiopulmonary business unit. Dolci plans to retire by Dec. 31, 2023, continuing in his role to support the transition of responsibilities through the end of the year. The company appointed Franco Poletti to serve as interim GM of cardiopulmonary […]
LivaNova wins FDA clearance, CE mark for Essenz in-line blood monitor
LivaNova announced today that it received FDA 510(k) clearance and CE mark for its Essenz in-line blood monitor. Essenz ILBM provides accurate and continuous measurement of essential blood parameters throughout cardiopulmonary bypass (CPB) procedures, according to LivaNova. It integrates into the next-generation Essenz perfusion system. Essenz enables perfusionists to access and manage reliable blood parameters […]