Celebrating Medical Innovation: Nominations Open for the Prestigious $100,000 Thomas J. Fogarty Prize.
The field of medical technology is set to receive a significant boost with the introduction of the Thomas J. Fogarty Prize (Fogarty Prize), a new award designed to honor innovators who have successfully developed and brought life-changing medical technologies to market.
Beginning on March 24, 2025, nominations will be open for this esteemed prize, which offers a $100,000 unrestricted cash award. Also, the honoree receives a formal celebratory dinner and award ceremony that includes a custom-cast bronze medal and attendance by leading figures from the medtech industry in Silicon Valley.
Recognizing Excellence in Medtech Innovation
Named after Dr. Thomas J. Fogarty, a pioneering cardiovascular surgeon and prolific medical technology innovator, the Fogarty Prize is made possible by a foundational grant from the Linda and Mike Mussallem Foundation, with additional support from Silicon Valley-based law firm Wilson Sonsini.
The prize highlights and honors the determination, collaboration, and resilience required to bring innovative medical therapies to patients. Unlike lifetime achievement awards, the Fogarty Prize is focused on recognizing a specific, clinically impactful technology that has made a significant difference in patient care.
Dr. Fogarty’s Legacy of Innovation
Throughout his distinguished career, Dr. Thomas J. Fogarty has amassed an impressive 190 medical patents, fundamentally transforming modern surgery. Amongst his most groundbreaking contributions are:
The Fogarty balloon embolectomy catheter revolutionized vascular surgery by replacing high-risk, open surgical procedures for removing blood clots.
The Hancock Tissue Heart Valve and AneuRx Endovascular Aortic Stent Graft significantly improved surgical outcomes for patients.
Despite his pioneering work, Dr. Fogarty faced significant resistance in bringing his ideas to fruition, encountering numerous challenges in publishing his work and securing manufacturing partnerships. His first major commercial success came in 1969 when Edwards Laboratories recognized the potential of his balloon catheter.
Understanding the struggles of medtech innovation firsthand, Dr. Fogarty founded Fogarty Innovation in 2007, an incubator dedicated to mentoring and accelerating the development of medical technology startups. Under the leadership of CEO Andrew Cleeland since 2017, Fogarty Innovation has expanded significantly, offering a 30,000-square-foot facility with laboratories, office spaces, and educational programs to support emerging companies in the sector.
About Fogarty Innovation
Fogarty Innovation is a nonprofit educational medtech incubator dedicated to advancing global health through cutting-edge medical technology. Headquartered at El Camino Health in Mountain View, California, the organization provides hands-on mentoring, educational programming, and strategic alliances to accelerate the development and deployment of breakthrough medical devices. Learn more at www.fogartyinnovation.org.
Honoring the Next Generation of Medtech Innovators
The Fogarty Prize selection committee consists of esteemed medtech leaders, including Dorothy Abel, K. Angela Macfarlane, Mike Mussallem, Asha Nayak, MD, PhD, Carla Pugh, MD, PhD, Allan Will, and Bill Starling. This independent committee will review nominations and select the recipient(s) annually.
Eligible nominees must be individuals (up to three per award); companies are not eligible. The prize seeks to acknowledge transformational contributions in medical technology that have successfully reached patients and gained broad acceptance in clinical use.
The nomination period is open from March 24, 2025, to July 31, 2025, with winners announced in August 2025. fixed award will be presented at a formal gala in October 2025, held in Silicon Valley, California, on the eve of the annual Thomas J. Fogarty, MD: Focus on Innovation Lecture (Fogarty Lecture).
For those interested in submitting nominations, the form is available on the Fogarty Innovation website.
The Linda and Mike Mussallem Foundation: Driving Innovation in Healthcare
The Fogarty Prize is made possible by the generosity of the Linda and Mike Mussallem Foundation, a philanthropic initiative launched in 2024. The foundation is dedicated to advancing healthcare innovation and addressing complex medical challenges, with a particular focus on underserved populations. Co-founder Mike Mussallem, former CEO and Chairman of Edwards Lifesciences, emphasizes that the Fogarty Prize aligns perfectly with the foundation’s mission of recognizing and supporting life-changing medical advancements.
About the Linda and Mike Mussallem Foundation
Founded in 2024, the Linda and Mike Mussallem Foundation is dedicated to leveraging innovation and integrative health solutions to address complex healthcare challenges and create sustainable improvements for underserved communities. Learn more at www.mussallemfoundation.org.
Supporting the Future of Medtech
For over six decades, Dr. Thomas J. Fogarty’s relentless pursuit of “a better way” has inspired generations of innovators in the medical technology field. The Fogarty Prize serves as both a tribute to his immense contributions, and a platform to empower the next wave of pioneers committed to improving patient care worldwide.
By acknowledging the challenges faced in translating innovative ideas into commercially viable medical solutions, the prize underscores the significance of perseverance, interdisciplinary collaboration, and strategic execution in medtech innovation. For more details on the Fogarty Prize and how to get involved, contact Allie Gregorian, Chief Alliance Officer at Fogarty Innovation.
