The invention provides a system and method for crimping and sheathing a stent. The system comprises a radial compression device including a plurality of crimping members (120). Some or all of the crimping members include a contoured depression (122) that receives and holds an inner sheath segment (130) while the device moves between open and closed positions. In the method, a stent is positioned within the open compression device. The device is closed to crimp the stent and at least partially enclose the stent in the inner sheath segments. The crimped stent and inner sheath segments are slid into an outer sheath. The invention additionally provides a system for treating a vascular condition comprising a crimped stent at least partially enclosed within a segmented sheath member.; The stent is simultaneously crimped and sheathed by segments of the sheath member held within contoured depressions formed in crimping members of a radial compression device.