Livanova PLC, a leading medical technology company, has announced the appointment of Vladimir A. Makatsaria as its new Chief Executive Officer (CEO) and a member of the board of directors, effective March 1, 2024. Makatsaria, who most recently served as the company group chairman at Johnson & Johnson MedTech, brings nearly 30 years of experience in the healthcare industry, with a proven track record of delivering results, driving innovation, and building successful teams.
Bill Kozy, Livanova's board chair, expressed confidence in the appointment, stating, "Vlad is a respected leader in the medical device industry with a proven reputation for delivering results, driving innovation and building great teams. The board and I have great confidence that Vlad is the right CEO to advance the company's strategic plan and achieve our goals for long-term growth."
Makatsaria expressed his enthusiasm for the new role, saying, "I look forward to working with the global team to deliver meaningful medical technologies to the patients we serve and to achieve Livanova's full potential. I would like to thank the board of directors and Bill Kozy for the opportunity to serve as CEO of Livanova."
The company's shares declined -1.1% on this news, and are currently trading at a price of $48.42.
Livanova PLC, headquartered in London, is a global medical technology company with a presence in over 100 countries and approximately 2,900 employees. The company is dedicated to providing hope for patients and their families through medical technologies, delivering life-changing improvements for both the head and heart.
The company's full 8-K submission is available here.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (MM) | $1,107 | $1,084 | $934 | $1,035 | $1,022 | $1,118 |
| Revenue Growth | n/a | -2.06% | -13.83% | 10.82% | -1.31% | 9.44% |
| Net Margins | -17% | -15% | -37% | -13% | -8% | 0% |
| Net Income (MM) | -$189 | -$158 | -$349 | -$136 | -$86 | $3 |
| Net Interest Expense (MM) | $10 | $15 | $41 | $50 | $48 | $57 |
| Depreciation & Amort. (MM) | $33 | $30 | $29 | $25 | $22 | $24 |
| Earnings Per Share | -$3.91 | -$3.26 | -$7.18 | -$2.68 | -$1.61 | $0.06 |
| EPS Growth | n/a | 16.62% | -120.25% | 62.67% | 39.93% | 103.73% |
| Diluted Shares (MM) | 48 | 48 | 49 | 51 | 53 | 54 |
| Capital Expenditures (MM) | $37 | $25 | $35 | $25 | $27 | $31 |
| Current Ratio | 1.07 | 1.07 | 2.29 | 0.97 | 2.98 | 3.23 |
| Total Debt (MM) | $168 | $411 | $664 | $466 | $562 | $606 |
| Net Debt / EBITDA | -0.56 | -2.48 | -1.68 | 10.88 | -6.4 | 6.43 |
LivaNova PLC has weak revenue growth and a flat capital expenditure trend, weak operating margins with a stable trend, and negative cash flows. We also note that the company benefits from an excellent current ratio and positive EPS growth. However, the firm has a highly leveraged balance sheet.
