UPDATE 1-Nikon pushes into medtech with $400 mln Optos acquisition

* Deal takes Nikon into growing retinal imaging business

* 340p per share offer represents 30.5 pct premium (Adds interview with Optos CEO, latest shares, background)

By Ben Hirschler

LONDON, Feb 27 (Reuters) - Nikon, the 98-year-oldJapanese company best known for its cameras, has agreed to buyBritish retinal imaging firm Optos for 259.3 millionpounds ($400 million) as it moves into the medical sector.

Nikon has previously said it intended to enter the medicalsector to leverage its optical technologies and the Japanesegroup sees buying Optos as an important step in that long-termgrowth plan.

Kazuo Ushida, president of Nikon, said the company wouldexpand the medical business further in the future.

The Japanese group will pay 340 pence a share in cash forOptos, a 30.5 percent premium to the closing price on Thursday,the two companies said in a statement.

News of the deal, which already has the backing ofshareholders representing 13.2 percent of Optos shares, sent thestock to a all-time high of 339p in early trading on Friday.Back in 2009, the shares hit a low of just over 30p.

Optos is the market leader in retinal imaging and its ultrawidefield technology produces images that cover more than 80percent of the retina, which is greater than any other device.

Retinal imaging is a booming business due to ageingpopulations, which puts more people at risk of developingage-related macular degeneration, a leading cause of blindness.Rising rates of diabetes and resulting eye complications havealso increased demand for sophisticated retinal monitoring.

Optos is the market leader in retinal imaging by sales, witha share of just over 30 percent, but its business is currentlyheavy skewed to North America, where it generates 72 percent ofits revenue.

"Nikon is strong globally, while our business is strong nNorth America, so there are good growth opportunities in bothEurope and Asia," Optos Chief Executive Roy Davis told Reuters.

Optos generated revenue of around $170 million in the yearto Sept. 30, 2014 and operating profit before exceptional itemsof approximately $16 million.

($1 = 0.6478 pounds) (Reporting by Ben Hirschler; editing by David Clarke andWilliam Hardy)