Former Evalve CEO Ferolyn Powell, who led the MitraClip developer to a $410 million acquisition by Abbott (NYSE:ABT), died this month in a motorbike accident in northern Thailand, her family said yesterday.
Powell oversaw the development of the MitraClip device, a transcatheter alternative to open heart surgery for treating leaky mitral valves. Her sister, Liz McDermott, led the clinical and regulatory teams at Evalve.
After Abbott agreed to acquire Evalve in 2009 for $320 million up front and another $90 million in milestones, Powell led Abbott’s new structural heart business. She helped the company win pre-market approval from the FDA for MitraClip in 2013.
Powell was chairwoman at Prescient Medical at the time of her death, according to a statement from her family.
She died March 13 while traveling on vacation in northern Thailand, according to the statement.
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