Sapheon

About Sapheon

Sapheon, founded in 2008, was a privately-held medical device company that specialized in treatments for venous diseases. The company was established by Dr. Rodney Raabe, who conceived the clinical idea of using an adhesive to treat varicose veins, along with Gary McCord and Monte Madsen. Dr. Raabe, a physician with a background in developing new medical technologies, pioneered the adhesive closure technique for treating saphenofemoral insufficiency. The founders were deeply involved in the initial research, personally conducting the animal studies to refine the procedure.

The company's core focus was the development and manufacturing of the VenaSeal Closure System. This system addresses chronic venous insufficiency (CVI) and varicose veins by closing the great saphenous vein using a proprietary medical adhesive. The procedure is performed in an outpatient setting under ultrasound guidance, where a catheter is used to inject the cyanoacrylate-based adhesive into the diseased vein, sealing it shut. Blood flow is then naturally redirected through healthier veins. A key benefit of the VenaSeal system is that it eliminates the need for tumescent anesthesia, which requires multiple injections, and reduces the risk of nerve injury and bruising associated with thermal-based treatments. This allows for a quicker recovery, with many patients able to resume normal activities almost immediately.

Sapheon's business model revolved around selling the VenaSeal system to physicians and vein clinics that treat patients suffering from CVI. The market for this technology is substantial, as venous disease affects a large portion of the global population. Prior to its acquisition, Sapheon had gained regulatory approval for VenaSeal in Canada, Europe, and Hong Kong, treating over 2,000 patients. The company successfully completed its pivotal clinical trial in the U.S., the VeClose study, and submitted for premarket approval (PMA) from the FDA. On August 28, 2014, Sapheon was acquired by Covidien plc for a reported $240 million, a move that significantly enhanced Covidien's peripheral vascular business. The acquisition occurred shortly before Covidien itself was acquired by Medtronic. The VenaSeal system received FDA approval in February 2015.