LivaNova PLC

LivaNova PLC is a medical technology company focused on therapies for cardiac and neurological conditions. It designs, manufactures, and sells devices and related services through two main businesses: Cardiopulmonary and Neuromodulation, serving hospitals and specialist clinicians worldwide.

16,4 %

67,7 %

−17,5 %

+10,7 %

1.36

1.16

— LivaNova PLC
	%
Cardiopulmonary	57% Products and services used in cardiopulmonary bypass and perfusion procedures, including HLMs, oxygenators, tubing, and cannulae.
Neuromodulation	43% Implantable and therapy-related products for select neurological conditions and associated clinical support.
Other revenue	1% Rental and site services income and legacy non-core revenue not allocated to the main segments.

LivaNova sells primarily to hospitals, medical institutions, and healthcare providers that need specialized devices for...

Hospitals and surgical centersprimary
Buy cardiopulmonary systems, oxygenators, cannulae, and related consumables for cardiac procedures; they value reliability, clinical outcomes, and vendor support.
Specialist physicians and clinical teamsprimary
Neurologists, neurosurgeons, and perfusionists influence adoption and use of therapies and systems based on efficacy, workflow, and training support.
Healthcare purchasing organizationssecondary
Centralized procurement teams and preferred-vendor programs negotiate pricing and vendor access, affecting product mix and margins.
Medical institutions and providerssecondary
Buy service, rental, and support offerings tied to installed equipment and ongoing clinical use.

LivaNova reports three operating geographies: the United States, Europe, and Rest of World. In 2025, the U.S...

•United States is the largest market and a key driver of revenue
•Europe is a major second market across several large healthcare systems
•Rest of World adds diversification but increases regulatory complexity
•Sales are made in more than 100 countries through direct and indirect channels
•Global footprint exposes the company to FX, tariffs, and supply-chain risk

LivaNova’s strategy centers on advancing its two core franchises, especially next-generation cardiopulmonary systems...

Expand Essenz Perfusion System adoptionmedium-term

The next-generation HLM is a key growth driver in Cardiopulmonary and supports recurring consumables demand.

Protect and grow neuromodulation franchisemedium-term

Neuromodulation is a major revenue base and depends on clinical trust, reimbursement, and specialist adoption.

Maintain regulatory and quality executionshort-term

Medical device commercialization depends on approvals, safety, and manufacturing quality to avoid disruptions and recalls.

Preserve customer relationships and trainingshort-term

Clinical education and conference presence help drive adoption and defend share in specialized device markets.

LivaNova faces the typical risks of a global medical device company: regulatory scrutiny, pricing pressure, and...

high

Global operating and trade risk

The company sells in many countries and is exposed to tariffs, sanctions, inflation, and local regulatory changes.

Scope: Revenue and supply chain across the U.S., Europe, and Rest of World
Materiality: high

high

Supply chain concentration and component shortages

Medical device manufacturing depends on qualified suppliers, and switching sources can be slow under regulatory constraints.

Scope: Single-supplier components and raw materials
Materiality: high

high

Cybersecurity and data protection

The company handles sensitive patient and health data, so breaches can trigger regulatory, legal, and reputational damage.

Scope: IT systems, products, and patient data
Materiality: high

high

Product safety and regulatory actions

Advisories, recalls, or competitor safety issues can rapidly alter demand and market share.

Scope: All device lines
Materiality: high

medium

Pricing pressure and customer consolidation

Hospitals and purchasing groups are reducing vendor counts and pushing for lower prices.

Scope: Cardiopulmonary and neuromodulation sales channels
Materiality: medium

Revenue recognition and product mix

Affects reported revenue timing and margin mix

Goodwill and indefinite-lived intangible impairment

Can create large non-cash impairment charges if assumptions weaken

SNIA environmental liability

Distorts operating and net income in the period recognized

Income taxes across multiple jurisdictions

Can cause large swings in effective tax rate

LivaNova PLC

Global operating and trade risk

Supply chain concentration and component shortages

Cybersecurity and data protection

Product safety and regulatory actions

Pricing pressure and customer consolidation

VitaNova Life Sciences Corp

Innoviva, Inc.

Lipocine Inc.

Bonava

Luvu Brands, Inc.

Vivani Medical, Inc.