Summary: LivaNova announces completion of enrollment in the OSPREY trial for its aura6000 System, an implantable neurostimulator designed to address moderate to severe obstructive sleep apnea. The system, already CE marked, aims to maintain upper airway muscle tone, reducing or eliminating sleep apnea. First-quarter revenue increased by 12.5%, with double-digit growth in both cardiopulmonary and neuromodulation segments. CEO Vladimir Makatsaria emphasizes dedication to patient care and innovation for improved outcomes and shareholder value.
Key Takeaways:
- Enrollment completion in the OSPREY trial signifies progress in introducing LivaNova’s aura6000 System for obstructive sleep apnea treatment in the US.
- First-quarter revenue growth of 12.5% reflects positive performance in both cardiopulmonary and neuromodulation segments.
- CEO Vladimir Makatsaria emphasizes commitment to patient care, innovation, and shareholder value as key priorities for LivaNova’s future success.
LivaNova PLC—a med tech company working to bring the LivaNova aura6000 System, an implantable hypoglossal neurostimulator intended to treat adult patients with moderate to severe obstructive sleep apnea, to market in the United States—reported first-quarter business results.
The aura6000 System, which received CE mark in 2012, is designed to maintain muscle tone of the tongue and upper airway so that airway obstruction and resulting sleep apnea are significantly reduced or eliminated.
During the quarter, LivaNova achieved a positive predictive outcome of trial success in the OSPREY clinical study for moderate to severe obstructive sleep apnea and concluded enrollment.
First-quarter revenue of $294.9 million increased 12.% on a reported basis and 12.4% on a constant-currency basis, as compared to the prior-year period. Neuromodulation revenue increased 10.9% on a reported basis and increased 11% on a constant-currency basis versus the first quarter of 2023 with double-digit growth in the US and Rest of World regions.
“In the first quarter, LivaNova achieved double-digit revenue and operating income growth in both the cardiopulmonary and neuromodulation segments,” says Vladimir Makatsaria, chief executive officer of LivaNova, in a release. “I am grateful to our teams around the world for their exceptional work and dedication to serving our patients and customers. Looking ahead, our priorities continue to emphasize execution, innovation, and talent development. We are confident that by delivering in each of these areas, we will improve patient outcomes and create shareholder value.”
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