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LivaNova (LIVN) investor relations material
LivaNova 44th Annual J.P. Morgan Healthcare Conference summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Strategic evolution and business focus
Refocused on core innovation, winding down non-core programs in 2024 to reallocate resources to core businesses and high-growth opportunities.
Portfolio reshaped from 2019–2022, exiting low-growth cardiovascular assets and investing in promising early-stage opportunities.
Strategy leverages leadership in epilepsy and cardiopulmonary to enter high-growth neuromodulation markets, including OSA and potentially depression.
Two-phase plan: 2025–2028 focuses on core growth and OSA investment; 2028–2030 expects OSA to drive margin expansion.
Core business performance and market dynamics
Cardiopulmonary business holds over 70% global share in open heart procedures, with market growth driven by aging populations and surgical complexity.
Epilepsy business leads the $700M neuromodulation market, with VNS Therapy transforming over 175,000 lives and benefiting from recent CMS reimbursement increases.
Cardiopulmonary and epilepsy markets are underpenetrated, offering significant growth potential through innovation and improved access.
Real-world evidence from CORE-VNS shows improved outcomes, supporting further penetration and adoption.
Growth drivers and innovation
OSA market entry leverages neuromodulation expertise, targeting patients underserved by current therapies, especially those with complete concentric collapse.
OSPREY trial and PolySync algorithm demonstrated high responder rates, including conversion of non-responders, positioning the technology as a clinical game changer.
Commercialization strategy for OSA includes a staged approach: initial focus on key opinion leaders, followed by full launch with expanded sales and market access.
Synergies with existing infrastructure in manufacturing, R&D, and market access accelerate OSA profitability.
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