LONDON - LivaNova PLC (NASDAQ:LIVN), a medical technology company, has issued a notice to its U.S. patients about a cybersecurity incident that compromised personal data, including sensitive health information. The breach was first detected on November 19, 2023, and was publicly disclosed the following day.
The company reported that unauthorized access to its systems occurred around October 26, 2023, leading to a disruption in IT operations. After discovering the breach, LivaNova engaged external cybersecurity experts and law enforcement and took steps to secure its systems, including temporarily taking certain systems offline.
On April 10, 2024, the investigation revealed that the cyberattack resulted in the unauthorized acquisition of personal information from U.S. patients. The compromised data varies by individual but includes names, contact details, Social Security numbers, dates of birth, medical information, and health insurance details.
Today, LivaNova posted a notice on its website and is contacting affected patients to offer complimentary identity protection and credit monitoring services. The company urges patients to stay vigilant against fraud and identity theft by monitoring their account statements and credit reports.
Patients seeking further information or assistance can contact LivaNova's toll-free number at (833) 931-5100, available Monday through Friday, excluding major U.S. holidays, with the reference engagement number B121304. More details can be found on the company's website.
InvestingPro Insights
As LivaNova PLC (NASDAQ:LIVN) navigates the aftermath of its recent cybersecurity incident, investors and stakeholders are closely monitoring the company's financial health and market position. Real-time data from InvestingPro reveals several key metrics that may be of interest:
- The company's market capitalization stands at $2.97 billion, reflecting its valuation within the medical technology sector.
- LivaNova's Price to Earnings (P/E) ratio is reported at 170.09, indicating a high earnings multiple which suggests investors have high expectations for future earnings growth.
- Revenue growth over the last twelve months as of Q4 2023 was 12.89%, showcasing the company's ability to increase its sales in the recent fiscal period.
Among the InvestingPro Tips for LivaNova PLC, two are particularly noteworthy:
- Net income is expected to grow this year, which could signal improving profitability and potentially provide a buffer against challenges such as the cybersecurity incident.
- The company's liquid assets exceed its short-term obligations, suggesting that LivaNova is in a good position to meet its immediate financial liabilities even in the face of unexpected events.
These insights, along with additional analysis, are available on InvestingPro, where users can find a total of 9 InvestingPro Tips for LivaNova. For readers interested in a deeper dive into LivaNova's financials and market prospects, they can apply the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
With the next earnings date approaching on May 1, 2024, investors will be looking to see how the cybersecurity incident has impacted the company's operations and whether the robust revenue growth can continue. The ability to stay profitable, as analysts predict, will be key for LivaNova's sustained success in the competitive medical technology landscape.
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