The Collaborative International Dictionary of English v.0.48:

Perichondrium \Per`i*chon"dri*um\, n. [NL., fr. Gr. peri` around
   + cho`ndros cartilage.] (Anat.)
   The membrane of fibrous connective tissue which closely
   invests cartilage, except where covering articular surfaces.
   [1913 Webster]