LivaNova recently released its third-quarter (Q3) financial results, with the company showing growth across a couple of areas. LivaNova’s net sales increased by 5% on a constant currency basis, while its net sales, excluding those of its heart valves business, which was divested in June, increased by 15.2%.
The company attributed 45% of its sales to neuromodulation, and this growth may be due to the Covid-19 pandemic and how various countries are recovering. Some US sales are driven largely by epilepsy centres getting back on track with surgeries after postponements due to the pandemic. Similarly, China, Taiwan and the Middle East are performing more non-emergency surgeries, prompting the growth in sales.
The other 55% of LivaNova’s sales are attributed to cardiovascular sales. Of this, the company reported strong growth in advanced circulatory support (ACS), a global increase in oxygenator sales, and heart-lung machine (HLM) sales growing by more than 25% worldwide. As before, it is possible that some of the sales are a result of Covid-19, in part through delayed procedures, and in part due to an increased demand for products due to cardiovascular issues among Covid-19 patients.
As people around the world continue to be vaccinated and the pandemic slowly subsides, LivaNova expects revenue to continue to increase to the end of this year. As countries quickly try to work through their backlogs of procedures, LivaNova could indeed be correct in its estimated revenue growth.