Mountain View, CA - October 22, 2014 - The Fogarty Institute for Innovation, a 501(c)(3) educational non-profit announced that Dr. Thomas Fogarty, the nationally renowned inventor of the balloon catheter, has been awarded the Presidential National Medal of Technology and Innovation, the country's highest honor for achievement and leadership in advancing the fields of science and technology. Dr. Fogarty will receive his award during a ceremony at the White House on November 20th.
"There is no one more deserving of this honor than Dr. Fogarty," said William Brody, MD, President of the Salk Institute for Biological Sciences and Board Member, Fogarty Institute for Innovation. "He has spent his entire life looking 'for a better way' to help improve patients' health through his inventions, while providing guidance, mentorship and support to aspiring entrepreneurs."
Dr. Fogarty is best known for inventing the embolectomy catheter, more commonly referred to as the balloon catheter, more than 50 years ago. The balloon catheter became the industry standard to remove blood clots and is used in more than 300,000 procedures worldwide per year. It is estimated to have saved the lives and limbs of more than 20 million patients. Edwards Lifesciences has been manufacturing the product since Fogarty acquired the patent in 1969.
"Dr. Fogarty is a trusted partner and we are proud to provide Fogarty catheters to help patients around the world," said Michael A. Mussallem, Edwards' chairman and CEO. "He is the originator and champion of many innovations and emerging companies. The medtech community and patients they serve have benefitted significantly from his expertise and unique way of thinking. Dr. Fogarty is an icon of American medicine and entrepreneurship, and embodies what this Presidential Medal symbolizes."
In addition to being a named inventor on over 165 surgical instrument patents, Dr. Fogarty is also the founder of the eponymous Fogarty Institute for Innovation, a 501(c)(3) educational non-profit located on the campus of El Camino Hospital in Mountain View, CA. The Institute seeks to provide a streamlined path for entrepreneurial innovators working on promising new medical therapies. Hand-selected promising innovators and researchers are offered mentorship and support as they transform their creative ideas into practical solutions to improve patient care.
"I am humbled and honored to have my achievements receive this level of recognition," said Dr. Fogarty. "Our country and our industry have a number of significant challenges to overcome to continue innovating and getting solutions to patients quickly and safely. Through the work of the Fogarty Institute for Innovation, we are striving to help the next generation of innovators and entrepreneurs create products that will truly make a difference in people's lives."
The National Medal of Technology and Innovation was created by statute in 1980 and is administered on behalf of the White House by the U.S. Department of Commerce's Patent and Trademark Office. The award recognizes those who have made lasting contributions to America's competitiveness and quality of life and helped strengthen the nation's technological workforce. A distinguished independent committee representing the private and public sectors submits recommendations to the President. Dr. Fogarty is one of eight recipients of the award this year.
About the Fogarty Institute for Innovation
Located on the campus of El Camino Hospital in Mountain View, Calif., the Fogarty Institute for Innovation is a 501(c)(3) educational non-profit dedicated to mentoring, training and inspiring the next generation of medical innovators. Through its programs, physicians, engineers and students can learn to successfully integrate their respective disciplines to develop viable ideas aimed at improving patient care. Companies in residence at the Institute have unfettered access to mentors and clinical trial expertise through the collaboration between the Institute, El Camino Hospital and the Taft Center for Clinical Research. Currently 13 companies are being mentored at the Institute in technologies ranging from maternal and early life to cardiovascular to educational software. It is our belief that innovation is the lifeblood of medical advancement and the key to raising the bar for patient care. To learn more, go to www.fogartyinnovation.org.
About El Camino Hospital
El Camino Hospital is an acute-care, 443-bed, nonprofit and locally governed organization with campuses in Mountain View and Los Gatos, Calif. In addition to state-of-the-art emergency departments, key medical specialties include heart and vascular, cancer care, urology, orthopedic and spine, genomic medicine, and the only Women's Hospital in Northern California. The hospital is recognized as a national leader in the use of health information technology and wireless communications, and has been awarded the Gold Seal of Approval from The Joint Commission as a Primary Stroke Center as well as back-to-back ANCC Magnet Recognitions for Nursing Care.