Device tax spurs Hill-Rom to lay off 200 | Wall Street Beat

March 28, 2012 by MassDevice staff

Hill-Rom Holdings says it plans to lay off 200 workers, or 3% of its workforce, in part due to the looming medical device tax; also, AngioDynamics drops $5M on Microsulis; Kips Bay switches NASDAQ markets; Luna Innovations, Intuitive Surgical extend pact; Asahi Kasei begins $2B bid for Zoll; CRO Cetero files for bankruptcy after FDA probe; NASDAQ warns NeuroMetrix; the 6 players that dominate the EMR market; Intuitive Surgical, GE, Hitachi, Philips win federal contracts; plus a Funding Roundup and analysts' ups and downs. Wall Street Beat

Hill-Rom Holdings (NYSE:HRC) said it will lay off about 3% of its workforce, or roughly 200 workers, as it maneuvers to confront the medical device tax set to go into effect next year.

"The company is making these changes to help offset pressures from challenging macroeconomic conditions, regulatory and reimbursement pressures, and the new medical device tax," according to a regulatory filing.

Batesville, Ind.-based Hill-Rom also said it's taking a $10 million to $13 million hit this year on tangible and intangible impairments, meaning a total charge of $19 million to $22 million for 2012.

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