LivaNova PLC Sets Operating Model and Supporting Organization
(Thomson Reuters ONE) -
LONDON, July 06, 2016 (GLOBE NEWSWIRE) -- LivaNova PLC (NASDAQ:LIVN) (LSE:LIVN)
("LivaNova" or the "Company"), a market-leading medical technology company,
today announced a new organizational structure designed to strengthen execution
and accountability of its business franchises, promote collaboration across the
global organization and support long-term profitable growth.
"When LivaNova was formed in late 2015, we communicated our commitment to grow
our medical device portfolio through innovative product development and global
commercial presence," said André-Michel Ballester, Chief Executive Officer. "We
have now identified opportunities to optimize our structure, prioritize our
highest value investments and deliver long-term growth and increased shareholder
value. We are now poised to place into action an organizational model to ensure
that we have the right resources and structure to execute our strategic
priorities."
"We are implementing an organizational re-design that, in addition to our
existing corporate support functions, will include a Chief Operating Officer
(COO). The addition of a COO will allow me the opportunity to focus on
LivaNova's strategic business imperatives and critical stakeholders while
developing and ensuring strong management fundamentals and alignment for future
growth", said Mr. Ballester. "LivaNova's new COO will be responsible for
driving innovative product development, commercialization and geographic
expansion across the global organization with a focus on margin expansion and
profitable growth. In executing this organizational model, we are creating new
leadership positions with defined geographic accountability to help propel and
support LivaNova's market-focused franchises."
Stefano Di Lullo, President of Cardiac Rhythm Management, has announced his
intention to retire effective immediately. Additionally, Michel Darnaud,
President of Cardiac Surgery, will assist in transition and will be retiring in
the first quarter of next year. "I wish to personally thank both of these
executives for their considerable contributions and leadership over the years in
helping to build and establish two of LivaNova's critical business units," said
Mr. Ballester.
About LivaNova
LivaNova PLC is a global medical technology company formed by the merger of
Sorin S.p.A, a leader in the treatment of cardiovascular diseases, and
Cyberonics Inc., a medical device company with core expertise in
neuromodulation. LivaNova transforms medical innovation into meaningful
solutions for the benefit of patients, healthcare professionals, and healthcare
systems. The Company employs approximately 4,600 employees worldwide and is
headquartered in London, U.K. With a presence in more than 100 countries,
LivaNova operates as three business units: Cardiac Surgery, Cardiac Rhythm
Management, and Neuromodulation, with operating headquarters in Clamart
(France), Mirandola (Italy) and Houston (U.S.), respectively.
LivaNova is listed on NASDAQ and is admitted to the standard listing segment of
the Official List of the UK's Financial Conduct Authority and to trading on the
London Stock Exchange (LSE) under the ticker symbol "LIVN".
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of
Section 21E of the United States Securities Exchange Act of 1934, as amended.
Forward-looking statements are not historical facts but are based on certain
assumptions of management and describe our future plans, strategies and
expectations. Forward-looking statements can generally be identified by the use
of forward-looking terminology, including, but not limited to, "may," "could,"
"seek," "guidance," "predict," "potential," "likely," "believe," "will,"
"expect," "anticipate," "estimate," "plan," "intend," "forecast," or variations
of these terms and similar expressions, or the negative of these terms or
similar expressions. Forward-looking statements contained in this press release
are based on information presently available to LivaNova and assumptions that
LivaNova believes to be reasonable, but are inherently uncertain. As a result,
our actual results, performance or achievements may differ materially from those
expressed or implied by these forward-looking statements. Investors are
cautioned that all such statements involve risks and uncertainties, including
without limitation, the factors described in the "Risk Factors" section of
LivaNova's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current
Reports on Form 8-K, and other documents filed from time to time with, and/or
announced or published pursuant to the rules of, the United States Securities
and Exchange Commission and/or the United Kingdom Financial Conduct Authority by
LivaNova, together with the risk that our internal leadership and organizational
realignment will not lead to intended improvements, efficiency or results. This
list of factors is not exhaustive. LivaNova does not give any assurance (1)
that LivaNova will achieve its expectations, or (2) concerning any result or the
timing thereof.
All information in this press release is as of the date of its release.
LivaNova does not undertake or assume any obligation to update publicly any of
the forward-looking statements in this press release to reflect actual results,
new information or future events, changes in assumptions or changes in other
factors affecting forward-looking statements, except to the extent required by
applicable law. If we update one or more forward-looking statements, no
inference should be drawn that we will make additional updates with respect to
those or other forward-looking statements. We caution you not to place undue
reliance on any forward-looking statements, which are made only as of the date
of this press release.
For more information, please visit www.livanova.com, or contact:
Investor Relations and Media
Karen King
Vice President, Investor Relations & Corporate Communications
Phone: +1 (281) 228-7262
Fax: +1 (281) 218-9332
e-mail: corporate.communications(at)livanova.com
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: LivaNova PLC via GlobeNewswire
[HUG#2026459]
Datum: 06.07.2016 - 15:50 Uhr
Sprache: Deutsch
News-ID 481885
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