Photo: LivaNova (2025 archive)
LivaNova has brought a new oxygenator production line into operation, while Agilent has completed its $240 million cash acquisition of digital-pathology software company Proscia, two developments Wednesday that expand medical-device capacity and laboratory software offerings.
The announcements cover different parts of the healthcare supply chain: equipment and consumables used in cardiopulmonary care, and software used by pathologists and drug researchers. LivaNova also raised its full-year outlook as sales increased, although its reported earnings fell.
LivaNova adds production capacity as sales rise
London-based LivaNova said its previously announced dedicated oxygenator manufacturing line had reached operational production, a step toward meeting what it described as strong customer demand. Oxygenators are used during cardiopulmonary bypass to add oxygen to blood and remove carbon dioxide.
In its third-quarter results, the company reported revenue of $393.1 million, up 9.9% from a year earlier. Cardiopulmonary sales rose 10.9% to $225.3 million, supported by consumables demand, Essenz Perfusion System sales and pricing. Neuromodulation revenue increased 11.1% to $166.1 million.
The earnings picture was mixed. GAAP diluted earnings fell to 11 cents a share from 49 cents, while adjusted diluted earnings rose to $1.23. GAAP operating income declined to $28.4 million from $54 million; adjusted operating income increased to $92.3 million from $80.4 million. The adjusted measures exclude items specified by the company and are not substitutes for the reported results.
LivaNova raised its full-year constant-currency revenue-growth forecast to 9% to 10%, from 8% to 9%, and its adjusted earnings forecast to $4.40 to $4.50 a share, from $4.30 to $4.40. It kept its adjusted free-cash-flow target at $140 million to $160 million.
The company also pointed to new Category I billing codes announced in October for treatment of moderate to severe obstructive sleep apnea using proximal hypoglossal nerve stimulation. Their expected effective date is January 1, 2028, not this year.
MassDevice reported that LivaNova is preparing a supplemental FDA submission ahead of the commercial launch of its aura6000 sleep-apnea system. The publication reported a share gain of more than 22% in early trading Wednesday; that was an early-session snapshot, not a closing price.
Agilent completes Proscia purchase
Agilent said it completed its previously announced acquisition of Proscia for $240 million in cash at closing. Up to another $30 million is payable if future performance milestones are met.
Proscia is now part of Agilent’s Life Sciences and Diagnostics Markets Group. The deal combines Agilent’s pathology instruments and reagents with a vendor-agnostic digital-pathology platform that Agilent says has FDA 510(k) clearance for primary diagnosis.
For Agilent, the purchase adds a recurring-revenue software business to its pathology portfolio and expands tools for clinical workflows, companion-diagnostics development and drug discovery. The $30 million contingent payment is not a confirmed payment at closing, and the announcement completes an existing deal rather than unveiling a new acquisition agreement.
JBizNews Desk | New York
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