Covidien Buys Sapheon, Adds To Peripheral Vascular Offering

By Jof Enriquez,
Follow me on Twitter @jofenriq

Covidien recently announced its purchase of peripheral vascular disease device manufacturer Sapheon Inc. for an undisclosed amount.

“Sapheon will significantly enhance Covidien’s global Peripheral Vascular business by providing additional treatment options for physicians and their patients who suffer from CVI [chronic venous insufficiency],” Brian Verrier, president of Peripheral Vascular at Covidien, said in a company statement. “Sapheon’s technology is complementary to our current portfolio, and this acquisition further demonstrates Covidien’s leadership in the CVI space. Our technologies are supported by industry leading clinical evidence, robust global physician training and a superior customer support infrastructure.”

Covidien said in the statement that it will add Sapheon to its Peripheral Vascular product line in the medical devices segment.

The acquisition includes Sapheon’s VenaSeal — a minimally invasive system used to close the saphenous veins in patients with varicose veins and other conditions where veins are unable to pump blood back into circulation, according to the statement. The system allows the procedure to be done with no tumescent anesthesia in an outpatient setting, and patients are able to go home immediately after the procedure.

“If left untreated, varicose veins can progress into a chronic and life threatening condition,” Mark Turco, M.D., chief medical officer, Vascular Therapies, Covidien, said in the statement. “The VenaSeal system is a minimally invasive technology, and unlike open surgery and other more invasive procedures, patients are often able to quickly regain their lifestyle.”

The VenaSeal is under investigational use in the United States, but is approved in Canada, Europe, and Hong Kong. It has been used in more than 2,000 patients, according to the Covidien press release. Sapheon had submitted documentation to the U.S. FDA for Premarket Approval for the system, following the enrollment and follow-up of its VeCLOSE clinical trial in the U.S.

Covidien’s purchase of Sapheon comes less than a week after it acquired endovascular device maker Reverse Medical Corp., a Modern Healthcare article noted. Covidien is scheduled to be acquired by Medtronic for $43 billion, in a merger announced in June and expected to be completed by late this year or early 2015. Medtronic is likewise on a buying spree lately, acquiring Sapiens Steering Brain Stimulation and NGC Medical in separate transactions.