Getinge has initiated a gradual phaseout of its surgical perfusion business, to focus on more profitable growth areas such as extracorporeal life support (ECLS) and transplant care. During a Jan. 28 earnings call, Getinge CEO Mattias Vadsten described surgical perfusion — technology that temporarily supports or replaces a patient’s heart and lungs during surgery — […]
LivaNova
Layoffs in medtech: These companies recently reduced their workforce
Medtech layoffs are picking up as 2024 draws to a close. Sean Whooley, Associate Editor, and Chris Newmarker, Editor-in-Chief The medical device industry is closing out the year with a fresh round of layoffs. At this point, MassDevice has reported on more than 22,000 medtech job cuts across the industry since mid-2022. (Have a tip […]
LivaNova nerve stim for sleep apnea meets primary study endpoints
LivaNova (Nasdaq:LIVN) today announced that its OSPREY trial of nerve stimulation for treating sleep apnea met its primary endpoints. OSPREY evaluates targeted hypoglossal nerve stimulation in the treatment of obstructive sleep apnea. With its safety endpoints, the trial achieved statistical significance in its primary endpoint responder rates between the treatment arm and the sham arm […]
The top 10 neurotech stories of the year so far
Across medtech, companies have continued to innovate through the first nine months of 2024, and that rings especially true in the neurotech space. Regulatory achievements, mergers and acquisitions, significant fundraising and more within neurotech have all been topics that garnered the interest of the MassDevice readers so far this year. We even have lists of some […]
LivaNova study of nerve stim to treat depression misses primary endpoint
LivaNova announced today that a study of its VNS Therapy for treatment-resistant depression failed to meet its primary endpoint. By the late afternoon, LIVN shares were down more than 12% to $52.73 apiece on the news. MassDevice‘s MedTech 100 Index was up slightly. Symmetry VNS Therapy did not meet its primary endpoint in the unipolar […]
LivaNova names former J&J MedTech exec as chief innovation officer
LivaNova today announced it appointed Ahmet Tezel as chief innovation officer, effective May 13, 2024. Tezel will take on the newly created chief innovation officer position to establish an integrated innovation function at the company and accelerate the development of new technologies. “I am very pleased to welcome Ahmet to the LivaNova team. At […]
LivaNova says cybersecurity breach included personal info for U.S. patients
LivaNova provided additional info regarding a cybersecurity incident first brought to light in late 2023. In November, the company disclosed a cybersecurity breach that disrupted portions of its information technology systems and business operations. This incident came shortly after another large medtech company, Henry Schein, experienced a significant breach as well. London-based LivaNova now says […]
LivaNova reports positive study results for neuromod for sleep apnea
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 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 […]
