MitraClip™ — the world's leading minimally invasive transcatheter mitral valve repair (TMVr) device — is a first-of-its-kind and truly revolutionary treatment option for people around the world living with mitral regurgitation (MR), or a leaky heart valve. Last night, MitraClip has been recognized by the prestigious Galien Foundation and was honored with the 2020 Prix Galien USA Award for Best Medical Technology. The award is considered as the industry's equivalent of the Nobel Prize in biopharmaceutical and medical technology research, and each year recognizes scientific innovation that improves the state of humankind in the pharmaceutical, biomedical and medical technology categories. This is the second year in a row that an Abbott medical device has been awarded the top prize by Prix Galien – Abbotts FreeStyle Libre 14 day system, the world-leading continuous glucose monitoring technology for people with diabetes, received the award for Best Medical Technology in 2019. Before MitraClip, the only approved treatment options for people living with MR was open-heart surgery. Many were not eligible for the procedure because of their age, other conditions they’re living with or issues that could cause complications from surgery. Medication only addressed MR symptoms and generally fell short of stopping the progression of the disease. For the hundreds of thousands of the 4 million people in the U.S. with MR — not to mention millions more around the world — this usually meant they went untreated. That's why we made it our goal to develop a minimally invasive treatment option for MR that would serve as an alternative for people who were not candidates for open-heart surgery. Seven years ago, we achieved that goal when the U.S. Food & Drug Administration (FDA) approved MitraClip for those living with primary, or degenerative, MR. How It Works MitraClip is a small clip-based device that is delivered to the heart through a small incision in the leg and clips portions of the leaflets, or flaps, of the mitral valve together to reduce the backflow of blood. Once in place, MitraClip restores the proper functioning of the mitral valve and the heart's ability to pump oxygenated blood more efficiently. Since its approval, MitraClip has served as a life-saving treatment option for people around the world living with primary MR, providing improved clinical outcomes and quality of life. Recognizing the benefits MitraClip provided to people living with primary MR, we then set a new goal – bring this life-changing treatment option to people who experience MR as a result of heart failure, also known as secondary MR. Our landmark COAPT trial provided the data supporting this, resulting in FDA approval for an expanded indication for MitraClip to include patients with secondary MR. This significantly increased the number of people living with MR who could be treated with the revolutionary device. This award for MitraClip is one of several recent recognitions for Abbott, including: Our newest rapid COVID-19 test, BinaxNOW COVID-19 Ag Card, being recognized as a top innovation by the Chicago Innovation Awards. ChicagoInno honoring our ID NOW COVID-19 rapid molecular test as a 2020 Inno on Fire winner Our smaller-than-a-pea, innovative device that treats preemie and newborn babies with an opening in their hearts – Amplatzer Piccolo Occluder – receiving an Edison Award and R&D 100 Award, for its innovation and human-centered design in prenatal and infant care Fast Company's 'World Changing Company of the Year' recognizing Abbott for its continued innovation of products, like our Piccolo device and COVID-19 tests, in addition to leading initiatives to fight malaria around the world and our commitment to advancing the careers of underrepresented people in STEM Abbott was also named to Fortune's 2020 'Change the World' list for expanding access to quality primary care and diagnostic testing in Rwanda, and for advancing innovative testing to confront the COVID-19 pandemic For more than 130 years, our mission has been to help people live better lives through better health and it doesn't stop here. We remain focused on advancing new treatments for people — from the youngest and teeniest premature babies to the oldest centenarians — we are committed to helping them live their fullest lives possible.