Last €2.88 EUR
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Volume 19.5M
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sorin spa (SRN) Details

Sorin S.p.A. develops, produces, and distributes medical devices for cardiac surgery and for the treatment of cardiac rhythm dysfunctions. It offers disposable biomedical devices and systems, including heart-lung machines; cardiopulmonary systems, such as oxygenators and custom packs; autotransfusion systems and disposables; perfusion tubing systems; cannulae; and endoscopic vessel harvesting systems for extracorporeal circulation during surgery. The company also provides mechanical heart valves, tissue heart valves, self-anchoring tissue heart valves, and annuloplasty rings to replace or repair dysfunctional heart valves or treat congenital diseases. In addition, it offers implantable devices, monitoring systems, and accessories to treat cardiac rhythm dysfunctions that comprise pacemakers, implantable defibrillators, systems to treat heart failure (CRT-D), programmers, electrodes, electrophysiology leads, and Holter monitors; and disposable medical devices for urology, urodynamics, heart surgery, and haemodialysis. The company sells its products worldwide primarily under the Sorin Biomedica, Dideco, Stöckert, Cobe Cardiovascular, Ela Medical, and Carbomedics brand names. Sorin S.p.A. was founded in 2004 and is headquartered in Milan, Italy.

3,500 Employees
Last Reported Date: 02/11/15
Founded in 2004

sorin spa (SRN) Top Compensated Officers

Chief Executive Officer, Director and Member ...
Total Annual Compensation: €789.0K
Chairman, President and Chairman of Executive...
Total Annual Compensation: €629.0K
Compensation as of Fiscal Year 2013.

sorin spa (SRN) Key Developments

Sorin Group Reports Preliminary Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the First Quarter and Full Year 2015

Sorin Group reported preliminary unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported revenues of €196.5 million, up 5.0% compared to the fourth quarter of 2013. Adjusted net profit was €21.0 million compared to €22.8 million in the fourth quarter of 2013. For the year, the company's revenues were €746.9 million, up 3.4% compared to 2013. Adjusted net profit was €55.1 million compared to €60.8 million in 2013. EBITDA was €120.7 million, or 16.2% of revenues, compared to €131.1 million, or 17.8% of revenues in 2013. EBIT was €74.1 million compared to €68.6 million in 2013. Net profit was €52.5 million compared to €48.9 million in 2013. Free cash flow amounted to €2.2 million. Net financial debt as of December 31, 2014 was €124.4 million, compared to €113.2 million as of September 30, 2014. For the first quarter of 2015, the company expects revenues to grow 2% - 3% over the same period of 2014. For the year 2015, the company expects revenues to grow 4% - 6% over 2014 and Adjusted net profit substantially in line with 2014.

Sorin Group Announces Enrollment of First Patients in the Vanguard Clinical Study

Sorin Group announced the first successful implants of the Equilia(TM) system in the Vanguard (Vagal Nerve Stimulation Safeguarding Heart Failure Patients) clinical study. The system is intended to treat heart failure by stimulating the vagus nerve. Heart failure has been shown to be associated with an imbalance in the autonomic nervous system that controls cardiac activity. This imbalance, a reduction in parasympathetic activity and an increase in sympathetic activity, overstresses the heart and contributes to the worsening of heart failure. By stimulating the vagus nerve, the Equilia system is expected to normalize the autonomic imbalance. The Equilia system consists of a small device implanted under the skin in the patient's chest that delivers electrical pulses via the EquiCurl(TM) lead placed around the vagus nerve in the neck area. Neurostimulation is expected to prolong heart failure patients' survival, improve their quality of life and reduce the number of hospital readmissions.

Sorin Group Receives Regulatory Approval for New Generation MRI Compatible Pacing System in Japan

Sorin Group announced that it has received approval from Japan's Pharmaceutical and Medical Devices Agency (PMDA) for its new KORA 100 pacing system with automatic magnetic resonance imaging mode (MRI mode). Pacemakers are usually implanted in elderly patients, a population prone to other medical conditions that typically require MRI examinations for optimal diagnosis and management. KORA 100 SR and DR pacemakers, when implanted with the Sorin BEFLEX pacing lead(s) 1, enable implanted patients to safely undergo an MRI scan. During an MRI scan pacemakers need to operate in asynchronous mode which exposes the patient to potential cardiac arrhythmias. This mode usually needs to be programmed by a cardiologist prior to and after the MRI scan which leaves the patient in asynchronous mode for a longer period of time than required by the MRI scan itself2. Unlike other pacemakers, KORA 100 ensures that asynchronous mode is activated for the least amount of time. Once Auto MRI mode is activated, the KORA 100 automatically adjusts its settings when the MRI field is detected. This ensures the safe operation of the device during an MRI scan. The device senses when a patient leaves the magnetic field and returns to its initial operating mode within five minutes. The Automatic MRI mode feature is patented and available exclusively in Sorin Group pacemakers2. The KORA 100 pacing system builds on Sorin’s legacy of proactively managing common cardiovascular comorbidities. The clinical results of the ANSWER study3 demonstrate that the SafeRTM 4 pacing mode results in a 51% risk reduction of cardiac death or HF hospitalization.


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