This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
LivaNova PLC manufactures and sells medical devices, including specialized equipment used in animal research. The company’s product portfolio includes perfusion systems, oxygenators, and other cardiopulmonary devices that are marketed for use in preclinical research involving large animals. This equipment is designed to support invasive surgical procedures on animals at an industrial scale, constituting commercial exploitation under the animal_exploitation exclusion category.
Cruelty Free Investors has flagged the company for its role in producing this equipment. While the provided evidence excerpts reference general litigation and reporting requirements, they do not detail specific animal testing activities. The exclusion is based on the company’s core business of manufacturing devices integral to large-scale animal research, a commercial activity not covered by more specific child codes such as animal_testing.
Research Sources
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The Naughty List
A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.