UPDATE 1-LivaNova to scrap mitral heart valve device as part of restructuring

(Adds details on mitral valve replacement)

Nov 20 (Reuters) - Medical device maker LivaNova Plc said on Wednesday it would stop developing its less-invasive mitral heart valve device and restructure its heart valve unit after years of declining sales.

The restructuring, which is likely to impact about 150 employees in three of its plants, will eliminate operational overlap and help it address new regulatory requirements, the UK-based company said.

The so-called transcatheter approach to heart valve replacement, in which the valve is threaded through the arteries to the heart, spares the patient from traditional open-heart surgery.

The company, which has about 4,000 employees, said the closure of its Minneapolis facility would be effective at the end of the year. (Reporting by Manas Mishra and Manojna Maddipatla in Bengaluru; Editing by Sriraj Kalluvila and Anil D'Silva)