The Trivex system is designed to offer a minimally invasive option for removing varicose veins, the Burlington, Mass.-based company said.
“We are pleased to receive this approval in the timeframe we expected. It demonstrates progress on our China strategy,” CEO George LeMaitre said in prepared remarks.
The approval triggered a previously signed $7.8 million distribution agreement with an exclusive Chinese distributor, the company said.
In August, 2013, LeMaitre bought the rights to the Trivex device through its $2.5 million buyout of InaVein. The vascular device maker snatched up InaVein for more than 100% more than the company’s 2012 sales, according to a company statement.
Lexington, Mass.-based InaVein, which was founded in 2007, originally developed the Trivex system, which uses direct visualization to remove varicose veins in a shorter period of time compared to conventional phlebectomy procedures, according to the company’s website.
In August this year, LeMaitre said it acquired graft-maker Xenotis is a deal valued at $7.7 million.
LeMaitre hopes that Xenotis Omniflow II biological graft will make a good complement to its vascular portfolio, which includes the XenoSure bovine vascular patch. The company said the buy is part of a larger strategy to acquire “under-marketed” devices.