Jul 06, 2010 - St. Jude Medical, Inc. (NYSE:STJ), a global medical device company, completed the previously announced acquisition of LightLab Imaging, Inc. for approximately $90 million in cash.LightLab is the pioneer and leader in the development of Optical Coherence Tomography (OCT), a high resolution diagnostic coronary imaging technology which 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 that will allow the Company to compete in, and potentially expand, the intravascular imaging 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... St. Jude Medical's Press Release - [PDF] LightLab Imaging's Press Release -
