LivaNova (LIVN) Stifel 2024 Healthcare Conference summary

Leadership and organizational updates

• New CEO Vladimir Makatsaria took the helm nine months ago, focusing on talent, execution, and future strategy.

• Matt Dodds transitions to strategic advisor until May, with Phil Kowalczyk leading strategy and business development.

• Brianna Gotlin promoted to VP of Investor Relations.

Core business performance and growth drivers

• Cardiopulmonary business achieved seven quarters of double-digit growth, driven by market expansion, pricing discipline, market share gains, and product upgrades.

• Epilepsy division sees growth from new patient implants and commercial execution, with under-penetrated market offering further opportunity.

• Anticipated slowdown in U.S. replacement volumes for epilepsy, but new patient growth and price increases expected to offset.

Innovation and pipeline updates

• Osprey clinical trial for OSA showed strong seven-month results, with 12-month data expected to be competitive and public in H1 2025.

• Osprey trial included a broader patient population and demonstrated superior outcomes versus competitors.

• Next wave of epilepsy innovation focuses on digitalization and device connectivity, with mid-stage projects underway.