An implantable medical device having an optical sensor selects the function of modular opto-electronic assemblies included in the optical sensor. Each assembly is provided with at least one light emitting device and at least one light detecting device. A device controller coupled to the optical sensor controls the function of each the assemblies. The controller executes a sensor performance test and selects at least one of the plurality of assemblies to operate as a light emitting assembly in response to a result of the performance test. The controller selects at least one other of the plurality of optical sensor assemblies to operate as a light detecting assembly in response to a result of the performance test.