Abbott announced that the U.S. Food and Drug Administration has approved the company's first-of-its-kind TriClip? transcatheter edge-to-edge repair (TEER) system that's specifically designed for the treatment of tricuspid regurgitation (TR), or a leaky tricuspid valve. This approval follows the recent recommendation of the Circulatory System Devices Panel of the Medical Devices Advisory Committee for the FDA, whose vote confirmed 13 to 1, with 0 abstention that the benefits of TriClip outweighed the risks.

The tricuspid valve controls blood as it flows from the heart's right atrium to the right ventricle.