Livanova plc has inked an agreement with Gyrus Capital SA to divest its heart valve business. The sale has an enterprise value of €60 million (US$73 million) and is expected to wrap up in the first half of next year. The Livanova board has already given its unanimous assent for the deal. Livanova now expects to strengthen its focus on its neuromodulation and cardiovascular platforms.
London-based Livanova plc has entered a collaboration with Verily Inc., an Alphabet company, to enrich data from its RECOVER trial using tools and analytics developed by Verily. The study, which kicked off last September, is assessing the effectiveness of vagus nerve stimulation (VNS) therapy for patients with difficult-to-treat depression (DTD).
London-based Livanova plc is exiting its Caisson transcatheter mitral valve replacement (TMVR) program as it looks to restructure its heart valve business. According to the company, the heart valve business line represented nearly $130 million in revenue for full-year 2018 and experienced a revenue decline over the last five years. It attributed the declines to multiple market conditions.