Covidien Acquires Venous Treatment Developer Sapheon
Covidien said Thursday it has acquired Sapheon, a privately held manufacturer of venous disease treatments, for an undisclosed sum. The deal is part of Covidien’s continued attempt to bolster its Peripheral Vascular line of medical devices.
This is the second such deal in less than two weeks for the Irish devicemaker. On Aug. 22, Covidien purchased privately held Irvine, Calif.-based Reverse Medical, which also makes devices to treat vascular diseases.
Based in Morrisville, N.C., Sapheon produces the VenaSeal system, which uses a proprietary medical adhesive to close the great saphenous vein in patients with varicose veins and chronic venous insufficiency. The outpatient procedure, which requires no anesthesia, is performed using an ultrasound-guided minimally invasive catheter. The result is less bruising than traditional thermal energy treatment, Covidien says.
The device is approved for use in Canada, Europe and Hong Kong, but still investigational in the U.S. However, Covidien says Sapheon has submitted documentation to the FDA in support of premarket approval.
Covidien’s acquisitions come as it still faces hurdles in its proposed $43 billion purchase by Medtronic. — Kellen Owings
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