Medical device companies have already absorbed the 2.3% excise tax without touching profits or product prices, according to analysts.
MASSDEVICE.COM ON CALL — Many medical device companies have long petitioned for a repeal of the 2.3% excise tax on U.S. sales, but analysts say medtech companies have already managed to absorb the tax without taking a hit to the bottom line or jacking up costs for consumers.
Seven months into the tax, companies are instead coping by making layoffs, freezing salaries and restructuring. Many large medical device companies have landed headlines with exhaustive restructuring plans and sweeping layoffs.
An industry analysts from Bloomberg said experts agree the larger medical device companies will restructure rather than take suffer losses, according to The Morning Call.
Brigham cardiac surgeon quits after road rage at Logan Airport
Dr. Robert Rizzo, head of Brigham & Women's Cape Cod Hospital cardiac surgery program, resigned in the wake of assault and battery charges. The troubles began for Rizzo last month as he waited to pick up his wife at Logan Airport, where he ran afoul of a Mass. state trooper, allegedly running over the trooper's foot with his car.
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