St. Jude Medical Acquires LightLab
ST. PAUL, Minn., July 9, 2010 — St. Jude Medical Inc., a medical device company located in St. Paul Minn., has acquired Westford, Mass.-based LightLab Imaging Inc. for approximately $90 million in cash.
LightLab develops Optical Coherence Tomography (OCT), a high-resolution diagnostic coronary imaging technology that aids physicians in the treatment of cardiovascular disease. The acquisition of OCT technology accelerates the expansion of St. Jude Medical’s cardiovascular growth platform by providing the company with a comprehensive product offering make it more competitive in the intravascular imaging (IVUS) market.
The IVUS market is estimated to be $500 million for 2010 and to grow 10 to 15 percent annually. During the second half of 2010, St. Jude Medical 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.
The combination of both OCT and the complementary Fractional Flow Reserve (FFR) technology will provide physicians with comprehensive lesion assessment information; FFR provides physiological data to help physicians determine which lesions to treat, and OCT provides anatomical images which can help guide stent selection and deployment as well as provide post-stenting information to help ensure the procedure went smoothly.
“The OCT technology is the ideal complement to our FFR technology and provides us with a comprehensive platform that will help us to grow our cardiovascular business,” said Daniel J. Starks, CEO of St. Jude Medical.
“There is a strong alignment between St. Jude Medical and LightLab both in our product portfolios and our shared vision of improving patient outcomes through solutions which enable physicians to make earlier and more accurate treatment decisions,” said David Kolstad, CEO of LightLab, who will join the company.
For more information, visit: www.sjm.com.
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