LivaNova to Wind Down Advanced Circulatory Support Business Unit
Move Reinforces Focus on Core Cardiopulmonary and Neuromodulation Businesses
ACS Standalone Cannulae Products and Accessories to Transition Into Cardiopulmonary Business Unit
The Company will retain all ACS standalone cannulae products and related accessories, including ProtekDuo™, transseptal (TandemHeart™), arterial and venous cannulae, along with corresponding insertion kits, which will all be transitioned into the CP Business Unit product portfolio during the first quarter of 2024. Operations and service for other ACS product lines, including LifeSPARC™ and Hemolung™ Systems, will be discontinued by the end of the year. The Company expects to support scheduled service for the LifeSPARC and Hemolung platforms through the end of 2024.
“LivaNova is committed to managing our portfolio and resources toward the highest growth and return opportunities for shareholders,” said
Kozy added, “We value the ACS team’s efforts and commitment to helping improve the condition of patients and are grateful to have served customers who used the LifeSPARC platform to support their patients over the years. We will aim to make this transition as seamless as possible for our customers and employees.”
In connection with the wind down of the ACS business and transition of certain products into CP, the Company expects to record a pre-tax non-cash impairment charge of up to approximately
Additional details will be provided in a filing on Form 8-K today with the
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This news release contains “forward-looking statements” concerning the Company’s goals, beliefs, expectations, strategies, objectives, plans, underlying assumptions and other statements that are not necessarily based on historical facts. These statements include, but are not limited to, statements regarding the Company’s Business Units. Actual events may differ materially from those indicated in our forward-looking statements as a result of various factors, including those factors set forth in Item 1A of the Company’s most recent Annual Report on Form 10-K, as supplemented by any risk factors contained in Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
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