Inclusion Criteria:

   1. Symptomatic functional MR (≥3+) due to cardiomyopathy of either ischemic or
   non-ischemic etiology determined by assessment of a qualifying transthoracic
   echocardiogram (TTE) obtained within 90 days and transesophageal echocardiogram (TEE)
   obtained within 180 days prior to subject registration, with MR severity based
   principally on the TTE study, confirmed by the Echocardiography Core Lab (ECL). The
   ECL may request a transesophageal echocardiogram (TEE) to confirm MR etiology.

   Note: Functional MR requires the presence of global or regional left ventricular wall
   motion abnormalities, which are believed to be the primary cause of the MR. If a flail
   leaflet or other evidence of degenerative MR is present, the subject is not eligible
   even if global or regional left ventricular systolic dysfunction is present.

   Note: Qualifying TTE must be obtained after the subject has been stabilized on optimal
   therapy including Guideline Directed Medical Therapy (GDMT) and at least 30 days
   after:

      1. a greater than 100% increase or greater than 50% decrease in dose of GDMT

      2. revascularization and/or implant of Cardiac Resynchronization Therapy device (CRT
      or CRT-D) or reprogramming of an implanted CRT or CRT-D that results in increased
      biventricular pacing (from <92% to ≥92%)

   2. In the judgment of the HF specialist investigator at the site, the subject has been
   adequately treated per applicable standards, including for coronary artery disease,
   left ventricular dysfunction, mitral regurgitation and heart failure (e.g., with
   cardiac resynchronization therapy, revascularization, and/or GDMT). The Eligibility
   Committee must also concur that the subject has been adequately treated.

   3. New York Heart Association (NYHA) Functional Class II, III or ambulatory IV.

   4. The Local Site Heart Team (CT surgeon and HF specialist investigators) and the Central
   Eligibility Committee concur that surgery will not be offered as a treatment option
   and that medical therapy is the intended therapy for the subject, even if the subject
   is randomized to the Control group.

   5. The subject has had at least one hospitalization for heart failure in the 12 months
   prior to subject registration and/or a corrected brain natriuretic peptide (BNP) ≥300
   pg/ml or corrected n-Terminal pro- brain natriuretic peptide NT-proBNP ≥1500 pg/ml
   measured within 90 days prior to subject registration ("corrected" refers to a 4%
   reduction in the BNP or NT-proBNP cutoff for every increase of 1 kg/m2 in BMI above a
   reference BMI of 20 kg/m2).

   Note: BNP or NT-proBNP must be obtained after the subject has been stabilized on GDMT
   and at least 30 days after:

      1. a greater than 100% increase or greater than 50% decrease in dose of GDMT

      2. revascularization and/or implant of Cardiac Resynchronization Therapy device (CRT
      or CRT-D) or reprogramming of an implanted CRT or CRT-D that results in increased
      biventricular pacing (from <92% to ≥92%).

   6. Left Ventricular Ejection Fraction (LVEF) is ≥20% and ≤50% within 90 days prior to
   subject registration, assessed by the site using any one of the following methods:
   echocardiography, contrast left ventriculography, gated blood pool scan or cardiac
   magnetic resonance imaging (MRI).

   Note: The method must provide a quantitative readout (not a visual assessment).

   7. The primary regurgitant jet is non-commissural, and in the opinion of the MitraClip
   implanting investigator can be successfully be treated by the MitraClip. If a
   secondary jet exists, it must be considered clinically insignificant.

   8. Creatine Kinase-MB (CK-MB) obtained within prior 14 days < local laboratory Upper
   Limit of Normal (ULN).

   9. Transseptal catheterization and femoral vein access is determined to be feasible by
   the MitraClip implanting investigator.

10. Age 18 years or older.

11. The subject or the subject's legal representative understands and agrees that should
   he/she be assigned to the Control group, he/she will be treated with medical therapy
   and conservative management without surgery and without the MitraClip, either
   domestically or abroad. If the subject would actively contemplate surgery and/or
   MitraClip if randomized to Control, he/she should not be registered in this trial.

12. The subject or the subject's legal representative has been informed of the nature of
   the trial and agrees to its provisions, including the possibility of randomization to
   the Control group and returning for all required post-procedure follow-up visits, and
   has provided written informed consent.

13. Left Ventricular End Systolic Dimension (LVESD) is ≤ 70 mm assessed by site based on a
   transthoracic echocardiographic (TTE) obtained within 90 days prior to subject
   registration.

For the CPX Sub-study: Subjects have to meet the COAPT study eligibility criteria to be
registered in the CPX Sub-study.

COAPT CAS study Inclusion Criteria:

1. Subjects must meet all of the above COAPT RCT inclusion criteria, and must have national
Medicare coverage by the Centers for Medicare and Medicaid Services (CMS).

Exclusion Criteria:

   1. Chronic Obstructive Pulmonary Disease (COPD) requiring continuous home oxygen therapy
   or chronic outpatient oral steroid use.

   2. Untreated clinically significant coronary artery disease requiring revascularization.

   3. Coronary artery bypass grafting (CABG) within 30 days prior to subject registration.

   4. Percutaneous coronary intervention within 30 days prior to subject registration.

   5. Transcatheter aortic valve replacement (TAVR) within 30 days prior to subject
   registration.

   6. Tricuspid valve disease requiring surgery or transcatheter intervention.

   7. Aortic valve disease requiring surgery.

   8. Cerebrovascular accident within 30 days prior to subject registration.

   9. Severe symptomatic carotid stenosis (> 70% by ultrasound).

10. Carotid surgery or stenting within 30 days prior to subject registration.

11. American College of Cardiology /American Heart Association (ACC/AHA) Stage D heart
   failure.

12. Presence of any of the following:

      - Estimated pulmonary artery systolic pressure (PASP) > 70 mm Hg assessed by site
      based on echocardiography or right heart catheterization, unless active
      vasodilator therapy in the cath lab is able to reduce the pulmonary vascular
      resistance (PVR) to < 3 Wood Units or between 3 and 4.5 Wood Units with v wave
      less than twice the mean of the pulmonary capillary wedge pressure

      - Hypertrophic cardiomyopathy, restrictive cardiomyopathy, constrictive
      pericarditis, or any other structural heart disease causing heart failure other
      than dilated cardiomyopathy of either ischemic or non ischemic etiology

      - Infiltrative cardiomyopathies (e.g., amyloidosis, hemochromatosis, sarcoidosis)

      - Hemodynamic instability requiring inotropic support or mechanical heart
      assistance.

13. Physical evidence of right-sided congestive heart failure with echocardiographic
   evidence of moderate or severe right ventricular dysfunction as assessed by site.

14. Implant of any Cardiac Resynchronization Therapy (CRT) or Cardiac Resynchronization
   Therapy with cardioverter-defibrillator (CRT-D) within the last 30days prior to
   subject registration.

15. Mitral valve orifice area < 4.0 cm2 assessed by site based on a transthoracic
   echocardiogram (TTE) within 90 days prior to subject registration.

16. Leaflet anatomy which may preclude MitraClip implantation, proper MitraClip
   positioning on the leaflets or sufficient reduction in MR by the MitraClip. This
   evaluation is based on transesophageal echocardiogram (TEE) evaluation of the mitral
   valve within 180 days prior to subject registration and includes:

      - Insufficient mobile leaflet available for grasping with the MitraClip device

      - Evidence of calcification in the grasping area

      - Presence of a significant cleft in the grasping area

      - Lack of both primary and secondary chordal support in the grasping area

      - Leaflet mobility length < 1 cm

17. Hemodynamic instability defined as systolic pressure < 90 mmHg with or without
   afterload reduction, cardiogenic shock or the need for inotropic support or
   intra-aortic balloon pump or other hemodynamic support device.

18. Need for emergent or urgent surgery for any reason or any planned cardiac surgery
   within the next 12 months.

19. Life expectancy < 12 months due to non-cardiac conditions.

20. Modified Rankin Scale ≥ 4 disability.

21. Status 1 heart transplant or prior orthotopic heart transplantation.

22. Prior mitral valve leaflet surgery or any currently implanted prosthetic mitral valve,
   or any prior transcatheter mitral valve procedure.

23. Echocardiographic evidence of intracardiac mass, thrombus or vegetation.

24. Active endocarditis or active rheumatic heart disease or leaflets degenerated from
   rheumatic disease (i.e., noncompliant, perforated).

25. Active infections requiring current antibiotic therapy.

26. Subjects in whom transesophageal echocardiography (TEE) is contraindicated or high
   risk.

27. Known hypersensitivity or contraindication to procedural medications which cannot be
   adequately managed medically.

28. Pregnant or planning pregnancy within next 12 months.

   Note: Female patients of childbearing age should be instructed to use safe
   contraception (e.g. intrauterine devices, hormonal contraceptives: contraceptive
   pills, implants, transdermal patches hormonal vaginal devices, injections with
   prolonged release.

29. Currently participating in an investigational drug or another device study that has
   not reached its primary endpoint. Note: Trials requiring extended follow-up for
   products that were investigational, but have since become commercially available, are
   not considered investigational trials.

30. Subject belongs to a vulnerable population per investigator's judgment or subject has
   any kind of disorder that compromises his/her ability to give written informed consent
   and/or to comply with study procedures.

For the CPX Sub-study: Subjects who have any contraindications to CPX and are not capable
of performing CPX per investigator's assessment should not be registered in the CPX
Sub-study.

COAPT CAS study Exclusion Criteria:

1. Subjects must not meet any of the above COAPT RCT exclusion criteria.