LivaNova Business Summary

LivaNova PLC (LIVN) is a global medical technology leader that generates revenue primarily through the sale of high-margin therapeutic devices and systems across two core business segments: Cardiopulmonary and Neuromodulation. The Cardiopulmonary segment, which accounts for approximately 57% of total sales, focuses on heart-lung machines, oxygenators, and autotransfusion systems, while the Neuromodulation segment specializes in Vagus Nerve Stimulation (VNS) therapy for drug-resistant epilepsy and difficult-to-treat depression. The company is currently expanding its portfolio into the obstructive sleep apnea (OSA) market with its proximal hypoglossal nerve stimulation technology, targeting a full commercial launch by 2027. LivaNova competes directly with diversified medtech giants such as Medtronic, Boston Scientific, Abbott Laboratories, and Edwards Lifesciences, maintaining a dominant market position in the niche cardiopulmonary and VNS sectors where it leverages deep clinical evidence and specialized regulatory expertise. Formed in 2015 through the $2.7 billion merger of Cyberonics (USA) and Sorin S.p.A. (Italy), LivaNova is currently led by Chief Executive Officer Vladimir Makatsaria, who joined in March 2024 after a 27-year tenure at Johnson & Johnson, most recently as Company Group Chairman of J&J MedTech. The executive team includes Chief Financial Officer Alex Shvartsburg, an internal veteran since 2017, and Chief Innovation Officer Ahmet Tezel. The Board of Directors is chaired by William Kozy, a former Executive Vice President and COO of Becton, Dickinson and Company. Notable board members include Donald Zurbay, the President and CEO of Patterson Companies, and Susan Podlogar, reflecting a high-pedigree leadership team focused on driving profitability and operational efficiency as the company targets sustained net income growth through 2026.