Fogarty Prize Opens Search for Medtech Stars, Honoring a Titan's Legacy

MOUNTAIN VIEW, CA – March 31, 2026 – The search for the next revolutionary medical technology has officially begun. Fogarty Innovation announced that nominations will open on April 2 for the second annual Thomas J. Fogarty Innovation Prize, a prestigious award designed to recognize and elevate the innovators behind breakthrough medical devices that have successfully reached patients and made a significant clinical impact. The award carries an unrestricted $100,000 cash prize and celebrates its winner at a black-tie gala that gathers the brightest minds in the industry.

This year’s call for entries carries a particular poignancy, as it follows the passing of the prize’s namesake, Dr. Thomas J. Fogarty, in December 2025. A legendary cardiovascular surgeon and prolific inventor, Dr. Fogarty’s life work was a relentless pursuit of “a better way” to treat patients. The prize now stands as a powerful testament to his enduring mission, ensuring his influence continues to inspire and reward the next generation of pioneers.

“The Thomas J. Fogarty Innovation Prize celebrates the boldness, creativity, and perseverance that define great innovators—qualities that Tom embodied every day,” said Mike Mussallem, co-founder of the Linda and Mike Mussallem Foundation, which provided the founding grant for the prize. “Tom believed that, with the right innovation, medicine could always do better for patients, and he lived that conviction with integrity, generosity, and unwavering drive. This prize honors his remarkable legacy and his lifelong mission to empower others to challenge convention and solve healthcare’s toughest problems.”

A Legacy Forged in Innovation

Dr. Fogarty’s impact on modern medicine is difficult to overstate. With 190 medical patents to his name, his inventions fundamentally changed the practice of surgery, ushering in the era of minimally invasive procedures. His most famous invention, the Fogarty Balloon Embolectomy Catheter, was conceived while he was still a medical student and transformed vascular surgery. He also co-developed the Hancock Tissue Heart Valve and the AneuRx Endovascular Aortic Stent Graft, among many other devices. His entrepreneurial spirit led him to found or co-found more than 45 medical technology companies.

Recognized with the Presidential Medal of Technology and Innovation and an induction into the National Inventors Hall of Fame, Dr. Fogarty understood the immense difficulty of translating a brilliant idea into a clinical reality. He often remarked that the journey was “damn hard,” a realization that spurred him to establish Fogarty Innovation in 2007. The nonprofit incubator was created to mentor and support innovators, providing the resources and camaraderie needed to navigate the complex path to commercialization.

Setting the Bar: The Impact of Inaugural Innovation

The standard for the Fogarty Prize was set high by its inaugural recipients: Allan Zingeler, Raju Viswanathan, PhD, and Michael Mahoney of Boston Scientific. They were honored for the FARAPULSE™ PFA Platform, a groundbreaking technology for treating atrial fibrillation (AFib), the world's most common cardiac arrhythmia.

The FARAPULSE system represents a paradigm shift from traditional thermal ablation methods. Instead of using heat or cold, which carry risks of damaging adjacent tissues like the esophagus or nerves, it uses pulsed field ablation (PFA). This novel energy source selectively ablates heart tissue responsible for the arrhythmia while sparing surrounding non-cardiac structures. The result is a safer, more efficient procedure.

The clinical and commercial impact of FARAPULSE has been profound. Since receiving its initial approvals, the technology has been used to treat over 500,000 patients worldwide. Clinical data has consistently demonstrated its superiority. Four-year data from the Advent LTO study showed patients treated with FARAPULSE had a higher long-term success rate (72.8%) compared to traditional thermal ablation (64.3%), with fewer repeat procedures and less reliance on anti-arrhythmic drugs. Another trial, ADVANTAGE AF, reported an impressive 99.7% procedural success rate with a low 2.4% safety event rate, and notably, zero instances of the most feared complications associated with older methods. This level of demonstrated, real-world patient benefit is precisely what the Fogarty Prize aims to celebrate.

An Ecosystem for Breakthroughs

The Fogarty Prize is more than just an award; it is the pinnacle of a comprehensive support system designed to nurture medical innovation from concept to clinic. Fogarty Innovation, the organization administering the prize, operates at the heart of this ecosystem. Under the leadership of CEO Andrew Cleeland, the nonprofit incubator provides hands-on mentorship, practical educational programming, and crucial alliance-building to help early-stage companies succeed.

“The Prize and gala celebrate the innovators, mentors, and visionaries who make this industry extraordinary,” said Cleeland. “What we do matters. We improve, restore, and sometimes save the lives of millions around the world.”

This mission is amplified by the philanthropic vision of the Linda and Mike Mussallem Foundation. The foundation’s founding grant was instrumental in establishing the prize, reflecting a deep commitment from seasoned industry leaders to foster the next wave of progress. Mike Mussallem, the former CEO and Chairman of Edwards Lifesciences, also lends his considerable expertise to the prize's selection committee.

The Path to Recognition

Nominations for the 2026 prize will be accepted from April 2 through July 31, 2026, via the Fogarty Innovation website. The award is open to individuals or small teams of up to three people responsible for a singular, clinically impactful technology that is on the market and has achieved broad acceptance. The prize is not a lifetime achievement award but a recognition of a specific, transformative innovation.

The winner will be chosen by a distinguished and independent selection committee composed of leaders from across the medtech landscape: Dorothy Abel; K. Angela Macfarlane; Mike Mussallem; Asha Nayak, MD, PhD; Philip Oettinger; Carla Pugh, MD, PhD; Allan Will; and Bill Starling. Their collective expertise ensures that the winning technology truly represents the pinnacle of medical invention, embodying the values of relentless curiosity, technical excellence, and unwavering commitment to patient health that defined Dr. Fogarty's remarkable life.