Analysis: Medical device tax revenues could top $2B next year

For 6 of the med-tech companies on our list, the tax would have meant more red ink, ranging from 9% (Philips (NYSE:PHG)) to 934% (Orthofix (NSDQ:OFIX)). For 3 others, the tax would have pushed them from black to red. ConMed's (NSDQ:CNMD) $1 million in profits would have turned to an $8 million loss; SonoSite's (NSDQ: SONO) $1 million bottom line would have swung to a $3 million loss; and Symmetry Medical's (NYSE:SMA) $3 million profit would have instead been a $3 million loss.

Bloomberg Government takes on AdvaMed's report

Industry lobby AdvaMed issued its own analysis of the medical device tax last September, focusing on overall impacts to the industry. According to the study's authors, the impending levy represents "the last straw on the camel's back" for medical device companies trying to thrive in the struggling American economy, all but forcing companies to ship manufacturing overseas.

AdvaMed's ominous projections got a lot of attention, especially from members of Congress already favorable to the industry, but it also caught the eye of Bloomberg Government analyst Christopher Flavelle, who deemed the entire report "not credible."