Covidien Plc acquires Sapheon, Inc. and its VenaSeal System for Varicose Veins.

Covidien plc announced that it has acquired Sapheon, Inc., a privately-held developer of venous disease treatments. Financial terms of the transaction were not disclosed. Based in Morrisville, N.C., Sapheon develops and manufactures the VenaSeal system, which uses a specially formulated medical adhesive to close the great saphenous vein in patients with Varicose Veins and Chronic Venous Insufficiency (CVI). The procedure is performed with a minimally invasive catheter technique under ultrasound guidance in an office or outpatient setting. In many cases, patients are able to resume normal activity immediately after the procedure. Additionally, the procedure requires no tumescent anesthesia (a technique that requires multiple injections to deliver local anesthesia) and often results in less bruising than traditional thermal energy treatment.