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LivaNova PLC LIVN Stock Quote

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Morningstar‘s Stock Analysis LIVN

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Economic Moat


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LivaNova’s Leadership in Vagus Nerve Stimulation Supports Its Narrow Moat

Debbie S. Wang Senior Equity Analyst

Business Strategy and Outlook

| Debbie S. Wang |

As a midsize medical device firm, LivaNova follows the same innovation strategy that has been successful for many larger competitors, including Medtronic and Boston Scientific. With this approach, manufacturers can create differentiated products that are not entirely interchangeable, and with each iteration of the technology, can eke out a pricing premium. The success of this strategy hinges on two factors. First, firms must be able to generate meaningful innovation. This usually happens through internal R&D, potentially augmented with acquisition of emerging technologies. Very rarely have we seen medical technology firms succeed solely on acquisition of technology. Second, successful commercialization also depends on a salesforce that has built strong relationships with the practitioners making the brand choice.

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Key Statistics LIVN

Company Profile LIVN

Business Description

U.K.-based LivaNova was born of a combination between Cyberonics in the U.S. and Sorin in Italy. The medical device firm is primarily focused on cardiovascular and cardiopulmonary solutions (with surgical heart valves, heart-lung machines, and oxygenation equipment) as well as neuromodulation devices for treatment-resistant epilepsy and depression. Following the merger, LivaNova divested its cardiac rhythm management segment. LivaNova derives roughly half of its revenue from the U.S. market, another 21% from Europe, and the remainder from the rest of the world.

20 Eastbourne Terrace
London, W2 6LG, United Kingdom
T +44 2033250660
Industry Medical Devices
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2021
Employees 3,000