UK-based medical technology firm LivaNova has decided to overhaul its heart valve division to address the continued decline in sales.
The restructuring is expected to affect up to 150 jobs across the company’s operations in Minneapolis, US, Vancouver, Canada and Saluggia, Italy.
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LivaNova said that the heart valve business generated only 11%, or nearly $130m, of its total revenue in 2018.
LivaNova CEO Damien McDonald said: “We will restructure and simplify our heart valve manufacturing network, which will eliminate operational overlap between facilities and enable us to address new regulatory requirements.”
As part of the restructuring, the company will also end its transcatheter mitral valve replacement (TMVR) programme.
McDonald added: “As we evaluated these changes along with those in the structural heart market, we determined it was no longer viable to continue to invest in our TMVR programme. As a result, we will close our Caisson TMVR operations.”
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By GlobalDataLivaNova acquired Caisson Interventional in a deal worth $72m in May 2017.
Following the restructuring, the company’s LivaNova facility in Italy will focus on R&D and manufacturing of mechanical heart valves, rings, accessories and Nitinol stents.
The Canadian unit will be involved in the production of tissue heart valves, while the Caisson TMVR operations in Minneapolis will shut by the end of the year.
However, the clinical trial programme will continue to be followed within the parameters of the trial, the company added.
In 2018, LivaNova completed the PRELUDE feasibility study of its Caisson TMVR system to treat moderate to severe mitral regurgitation (MR).
By leveraging a less invasive transseptal approach, the system helps patients to avoid traditional open-heart surgeries through the use of a catheter or tube to replace the mitral valve.
