LivaNova

What LivaNova does

LivaNova PLC is a publicly traded medical technology company (NASDAQ: LIVN) headquartered in London, UK, formed in 2015 through the merger of Sorin Group (cardiopulmonary) and Cyberonics (neuromodulation). The company operates two business segments: Cardiopulmonary, anchored by the Essenz Perfusion System — the world's leading heart-lung machine, supported by oxygenators, cannulas, and related disposables used in cardiopulmonary bypass — and Neuromodulation, which includes VNS Therapy systems (Sentiva, SenTiva DUO, SYMMETRY) for drug-resistant epilepsy and difficult-to-treat depression, and the newly FDA-approved aura6000 System for obstructive sleep apnea.

The technical platform spans proprietary implantable pulse generators, hypoglossal nerve stimulation architectures, sensor-integrated perfusion hardware, and cloud-based digital health tools. Core intellectual property is protected by extensive US patent portfolios covering Sentiva, Inspire oxygenators, TandemLife/Protek Duo, S5, and Essenz systems. The OSPREY and RECOVER randomized controlled trials provide the clinical evidence base underlying both regulatory approvals and reimbursement decisions.

LivaNova generates revenue primarily through direct enterprise sales of capital equipment and implantable devices to hospitals and healthcare providers across more than 100 countries. FY2025 net revenue reached $1,388.1 million (10.7% YoY growth), with Cardiopulmonary contributing $785 million and Neuromodulation $152.7 million in Q4 2025. The company sells through its own field sales organizations and subsidiaries in the US, EU, China, Japan, Brazil, and other major markets. Reimbursement (notably a 48% Medicare increase for VNS Therapy effective January 2026) is a meaningful demand driver.

Name

LivaNova

Legal name

LivaNova PLC

Website

https://livanova.com

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

LivaNova PLC is a publicly traded medical technology company that develops and sells neuromodulation and cardiopulmonary medical devices — including VNS Therapy, the aura6000 sleep apnea system, and the Essenz Perfusion System — to hospitals and healthcare providers in more than 100 countries.

Ownership category

akta.pro rank

Product category

Medical Devices

NAICS

Electromedical and Electrotherapeutic Apparatus Manufacturing (334510), Surgical and Medical Instrument Manufacturing (339112)

SIC

Electromedical & Electrotherapeutic Apparatus (3845), Surgical & Medical Instruments & Apparatus (3841)

akta.pro primary industry

Cardiac Assist & Heart Failure Therapies (Implantables, Neuromodulation) (HLAHAFAL)

akta.pro secondary industries

Sleep Apnea Therapy Devices (CPAP/APAP/BiPAP/ASV) (HLAHAGAA), Medical-Grade Device Connectivity & Device Management (MDM) (HLACAFAG)

Keywords

• Cardiopulmonary medical devices
• Neuromodulation therapy systems
• Heart-lung machines
• Vagus nerve stimulation
• Perfusion equipment

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices15 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Cardiopulmonary (Perfusion): Sales of cardiopulmonary equipment (Essenz Perfusion System, heart-lung machines), oxygenators, cannulas, and related disposables/consumables used during cardiac surgery. Full-year 2025 revenue of $785 million, up 13% year-over-year. Q4 2025 revenue of $206.6 million, up 13.7% year-over-year.
2. Neuromodulation (Epilepsy, Depression, OSA): Sales of VNS Therapy systems (Sentiva/SenTiva DUO, SYMMETRY), the aura6000 System for OSA, and related implantable device components. Q4 2025 revenue of $152.7 million, up 11.0% year-over-year. Revenue driven by increased Medicare reimbursement for VNS Therapy (approximately 48% increase effective January 2026) and FDA approval of aura6000 System.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

LivaNova is a global medical technology company that designs, manufactures, and sells advanced medical devices across two segments: Cardiopulmonary (capital equipment and consumables such as the Essenz Perfusion System, heart-lung machines, oxygenators, cannulas, and ECMO products) and Neuromodulation (implantable neurostimulation systems including VNS Therapy for drug-resistant epilepsy and difficult-to-treat depression, and the aura6000 hypoglossal nerve stimulation system for obstructive sleep apnea). Products are sold to hospitals and healthcare providers across 100+ countries.

Differentiator

Problem solved

Functional benefit

Brands

• Essenz: Perfusion System for cardiopulmonary bypass procedures
• VNS Therapy
• SYMMETRY
• aura6000
• Sentiva
• TandemLife
• Protek Duo
• Inspire
• S5

Products and services

• Essenz Perfusion System Advanced heart-lung machine and perfusion management system used by perfusionists and cardiac surgeons during cardiopulmonary bypass procedures, providing real-time data monitoring and precision perfusion management.

Quantifiable outcome

• 65% responder rate at 12 months in OSPREY randomized controlled trial for obstructive sleep apnea with aura6000 System; increased to 84.5% with PolySync programming algorithm
• +6 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Orrum Clinical AnalyticscoreStrategic or Co-development Partner · 20 February 2026Orrum Clinical Analytics and LivaNova entered a strategic partnership to integrate Orrum's CŌRE Insights analytics platform with LivaNova's Essenz Perfusion System used during cardiopulmonary bypass procedures in cardiac surgery. The integration enables automatic, continuous data capture and transfer for post-operative analysis, peer benchmarking, and evidence-based performance improvement. The platform is built within a Patient Safety Organization recognized by the U.S. Department of Health & Human Services.
• Advanced Medical Technology Association (AdvaMed)minorOthersAdvaMed advocates for patient access to safe, effective, and innovative medical technologies. LivaNova is an active member and participates in cybersecurity and information sharing working groups.
• Health Information Sharing and Analysis Center (H-ISAC)minorOthersH-ISAC is a global, non-profit, member-driven organization offering healthcare stakeholders a trusted community for coordinating, collaborating, and sharing vital physical and cyber threat intelligence and best practices. LivaNova is an active member of this healthcare cybersecurity working group.
• Health Sector Coordinating Council (HSCC)minorOthersHSCC serves as a public-private partnership focused on improving the resilience and security of the healthcare and public health sector. LivaNova participates in HSCC cybersecurity initiatives as part of its industry collaboration strategy.
• ALung Technologies Inc.coreStrategic or Co-development PartnerLivaNova acquired 97% of Pittsburgh-based ALung Technologies Inc. in 2022, following ALung's FDA approval to market its artificial lung device. The deal included an initial payment of $10 million and potential milestone-based payments. ALung specializes in artificial lung devices (ECMO systems), complementing LivaNova's cardiopulmonary business.

Scale indicators25 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Inspire Medical Systems: Inspire Medical Systems is the leading U.S. provider of hypoglossal nerve stimulation therapy for obstructive sleep apnea. It is the primary direct competitor to LivaNova's aura6000 System in the HGNS category, targeting the same CPAP-intolerant OSA patient population.
• Getinge: Getinge (including the legacy Maquet cardiopulmonary business) is one of LivaNova's closest competitors in heart-lung machines, oxygenators, and ECMO/cannula products. Both companies compete directly in the global cardiopulmonary perfusion equipment market, with overlapping product portfolios in cardiac surgery.
• Terumo: Terumo's cardiovascular division manufactures oxygenators, perfusion tubing, and cardiopulmonary bypass consumables that directly overlap with LivaNova's Inspire oxygenators and Essenz disposables. Both companies serve the same cardiac surgery customer base across global hospital systems.
• Edwards Lifesciences: Edwards Lifesciences is a leader in structural heart and critical care, with significant overlap in cardiac surgery products and monitoring. While its core is heart valves, its critical care monitoring products compete with parts of LivaNova's cardiopulmonary portfolio in the same surgical suites.
• ResMed: ResMed is the global leader in sleep-disordered breathing treatment, primarily CPAP devices for OSA. While it competes in the same therapeutic category as LivaNova's aura6000, it serves CPAP-responsive patients, making it both an adjacent player and a competitive constraint on the HGNS market opportunity.

Broad incumbents

• Medtronic: Medtronic is a diversified medical device leader with overlapping neuromodulation (deep brain stimulation, spinal cord stimulation), cardiac surgery, and cardiac rhythm management franchises. Its scale and R&D depth make it a broad incumbent that competes with LivaNova across multiple categories.
• Abbott: Abbott operates major cardiovascular and neuromodulation businesses (including post-St. Jude integration) that overlap with LivaNova's cardiac surgery and neurostimulation portfolios. As a broad incumbent, it competes with LivaNova in hospital accounts and electrophysiology/neurology procedure markets.
• Boston Scientific: Boston Scientific operates across interventional cardiology, cardiac surgery, peripheral interventions, and neuromodulation. While its neuromodulation focus is more chronic pain than VNS, it competes for hospital capital budgets and clinician mindshare across overlapping therapeutic areas.
• Philips: Philips has a significant Sleep & Respiratory business (CPAP, BiPAP, hospital ventilators) that overlaps with LivaNova's OSA adjacency and broader respiratory care. It is a broad incumbent in connected care and patient monitoring that competes with LivaNova's emerging digital health platform capabilities.

Emerging players

• Penumbra: Penumbra operates in interventional cardiology, vascular thrombectomy, and emerging neurovascular and immersive reality healthcare technologies. It has partial overlap with LivaNova in cardiac/neurovascular procedures and represents an emerging player expanding into adjacent device categories.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/livanova

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries21 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A5 records

Investments6 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about LivaNova