St. Jude Medical has completed the previously announced acquisition of LightLab Imaging, a former Goodman subsidiary, for approximately $90 million in cash.
LightLab develops optical coherence tomography (OCT), a diagnostic coronary imaging technology for the treatment of cardiovascular disease.
The acquisition of OCT technology expands St. Jude’s cardiovascular growth platform by providing the company with a product offering that will allow the company to compete in, and potentially expand, the intravascular imaging market, according to the St. Paul, Minn.-based St. Jude.
The company said the combination of OCT and its fractional flow reserve (FFR) technology will provide physicians with lesion assessment information, as FFR provides physiological data to help determine which lesions to treat and OCT provides anatomical imaging to guide stent selection and deployment as well as provide post-stenting information.
During the second half of this year, St. Jude expects the OCT platform to contribute an additional $20 million in revenue to its cardiovascular business. The OCT market is expected to grow at a double-digit compounded annual rate over the next five years and is expected to capture IVUS market share, St. Jude said.