Abbott (Abbott Park, Illinois) has received FDA PMA approval for its catheter-based MitraClip therapy for mitral regurgitation (MR) and the company says it plans to launch the device immediately in the U.S. The MitraClip device has been approved for patients with significant symptomatic degenerative MR who are at prohibitive risk for mitral valve surgery. Degenerative MR is a type of MR caused by an anatomic defect of the mitral valve of the heart. Prohibitive risk is determined by the clinical judgment of a heart team due to the presence of one or more documented surgical risk factors.

Love it or hate it, social media has become ingrained in most of our lives both personally and professionally. LinkedIn has made it easier than ever for professionals across business sectors to connect with one another and forge potential working relationships. And for those of us in the news business—especially those of us covering the ever volatile healthcare industry —the rise of Twitter has both enabled and demanded the delivery of real-time news in 140 characters or less. The influence that social media, Twitter in particular, has on our professional lives was blatantly apparent in Cleveland last week where nearly...

The 11th annual Cleveland Clinic Medical Innovation Summit, which wrapped up this past Wednesday at the newly opened Global Center for Healthcare Innovation in the city's downtown, was no exception. Peter Orszag, PhD, vice chairman of corporate and investment banking at Citigroup, discussed the relationship between medical innovation and efforts to control healthcare cost increases during a lunchtime presentation on Tuesday. Orszag's talk was closely followed by a panel of industry and venture capital experts who offered their take on the best investment opportunities in the metabolic disorders marketplace.