LivaNova
Cyberonics, Inc. was founded in Houston, United States in 1987. 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). In March 2015, the companies announced they would be merging in a $2.7B transaction. The transaction closed and the company began trading under the new stock symbol on Oct. 19. 2015. In December 2017, LivaNova announced it would acquire Imthera Medical for approximately $224M. In 2018, LivaNova sold its cardiac rhythm management business unit to MicroPort for $190M. In 2020, LivaNova announced the sale of its heart valve (HV) business
In May 2022, Livanova announced the acquisition of Pittsburgh based biotechnology company ALung Technologies Inc. LivaNova PLC will acquire the 97% interest in privately held ALung that it doesn’t currently own for the $10 million deal. 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 neuromodulation, with its operating HQ in Houston, cardiac surgery, with its operating HQ in Italy, cardiac rhythm management, with its operating HQ in France. In 2018 the cardiac rhythm management business unit was sold to focus on the remaining two. In March 2020, LivaNova established Epsy Health, a digital health unit aimed at empowering patients, caregivers and healthcare providers in their journey for the treatment of epilepsy. In December 2020, LivaNova announced the disposal of its heart valve (HV) business.
Business units
The company develops devices used for cardiac surgery and neuromodulation.