ANDOVER, Mass., Nov. 19 /PRNewswire-FirstCall/ -- Smith & Nephew's (NYSE: SNN) (LSE: SN) Endoscopy Division today announced the sale of its vascular business to InaVein LLC, a Boston-area investor group led by Jonathan Donaldson and Patrick Maley, longstanding members of the medical device marketplace. Terms of the sale were not disclosed.
The sale supports Endoscopy's objective to refine its product portfolio as part of Smith & Nephew's overall Earnings Improvement Program, which was announced early this year.
The vascular business includes The TRIVEX(TM) System for minimally invasive removal of varicose veins, and the Tumescent Catheter Inversion (TCI) System for the removal of the greater saphenous vein, a procedure which can prevent further varicose vein formation.
"This decision supports our strategy to increase focus on our core arthroscopy business and extend Smith & Nephew's leadership in the knee, shoulder, hip and small joint repair markets," said Mike Frazzette, president, Smith & Nephew Endoscopy. "We feel confident that the new owners of the vascular business will build upon the foundation of excellence and innovation that Smith & Nephew represents."
The TRIVEX System revolutionized varicose vein removal when it was introduced in 2000. Using a technique called transilluminated powered phlebectomy, to bring visualization to varicose vein removal. The system allows doctors to accurately target the vein using an irrigated illuminator, quickly remove it using a powered resector, and visually confirm the vein's removal.
The TCI System makes removal of the greater saphenous vein less
traumatic by using a tumescent anesthesia solution, a mix of saline, a
|SOURCE Smith & Nephew|
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