In May, London-based medical technology company LivaNova PLC acquired South Side-based ALung Technologies Inc. for $10 million, with additional payments dependent on sales-based milestones in the future. ALung, known for its innovative Hemolung product that helps patients with acute respiratory distress, recently obtained U.S. Food and Drug Administration approval following years of development in Pittsburgh and after clinical trials in the U.S. and U.K. The Hemolung now stands to benefit from LivaNova’s broader reach as a larger medical device company.
What opportunities proved beneficial to have an exit in the past year?
On Nov. 13, 2021, ALung Technologies Inc. was granted de novo 510(k) approval for its Hemolung Respiratory Assist System. This allowed ALung to begin commercial sales in the United States. The Hemolung is the first extracorporeal CO2 removal device approved in the United States and creates a new market for an acquiring company. Gaining the de novo 510(k) approval made ALung an attractive acquisition target for LivaNova.
How has the exit benefitted ALung since?
The acquisition by LivaNova offers opportunities for the growth and increased use of the Hemolung. The stability of a larger company providing funding and other resources to execute on product development projects and infrastructure improvements to meet expected growth targets has proved beneficial since the acquisition. Also, the access to LivaNova’s professional sales and marketing organization will expedite the growth of Hemolung sales.
Is the company currently hiring, and, if so, for which roles?
The Jane Street location is preparing for future growth plans and is currently preparing a hiring plan that will be available soon.
— Paul Buckman, president, LivaNova Advanced Circulatory Support
An earlier version of this story listed incorrect titles in the caption. Tracey Dill is senior manager, field clinical operations, and Joe Argyros is senior director operations and site leader of LivaNova.
