St Jude Medical completed on 6 July 2010 the previously announced acquisition of LightLab Imaging for approximately US$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.
In May, LightLab received FDA clearance of the first OCT products to be available in the United States. OCT diagnostic imaging technology has been shown to provide image resolution 10 times greater than intravascular ultrasound imaging systems (IVUS) and 20 times faster image capture.
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 US$500 million for 2010 and to grow 10 to 15% annually. During the second half of 2010, St Jude Medical expects the OCT platform to contribute an additional US$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.
St Jude Medical acquired its FFR measurement technology platform through the acquisition of Radi Medical Systems AB in 2008. The LightLab business will become part of the St Jude Medical Cardiovascular Division.
The FDA cleared LightLab’s C7-XR Imaging System and companion C7 Dragonfly Imaging Catheter in early May. This intravascular imaging technology, comprising the console used in the hospital lab and the catheter inserted into the vessel, allows the clinician to readily see and measure important vessel characteristics otherwise invisible or difficult to observe with older imaging technology. This next generation OCT system eliminates the need for temporary vessel occlusion that was required by earlier generation OCT systems.
LightLab has products approved in 40 countries, including the only OCT system cleared for use by regulatory bodies in the USA, Europe and Japan. The imaging technology has already been used by leading hospitals worldwide to perform high resolution imaging of vessel structure in thousands of coronary interventions. The next generation C7-XR Imaging System and companion C7 Dragonfly Imaging Catheter is also approved in Europe and is currently pending regulatory clearance in Japan.