Medical device tax could kill 11 percent of U.S. med-tech jobs, AdvaMed says
September 7, 2011 by Emily Greenhalgh
An excise tax on medical devices, set to go into effect in 2013, could mean a nearly 11 percent cut for the U.S. medical technology sector and add $2.67 billion to the industry's annual tax bill, according to a study funded by the Advanced Medical Technology Assn.
Medical device industry lobby AdvaMed says that the new 2.3 percent excise tax, slated to go into effect in 2013, will be "the last straw on the camel's back" for medical device companies trying to thrive in the struggling American economy.
The tax puts more than 43,000 U.S. jobs at risk by all but forcing medical device companies to move production offshore to avoid higher taxes, according to the study.
- Show full page
- Login to post comments
-
Permalink
RECENT BLOG POSTS
- When regulators are ignored
- FDA Issues Draft Guidance to Help Companies Distinguish Between a Voluntary Medical Device Recall and a Product Enhancement
- Patient and family engagement in ICUs
- A day in the life: A pediatric neurosurgeon's vision
- Medical Device Tax: Are Conservatives' goals hampering repeal efforts?
- Personal health record use by adolescents
- Can Johnson & Johnson fire on all cylinders again?
- U.S. FDA to require proof of IEC 60601-1 3rd Edition in summer 2013
- A cure for coffee breath?
- A Goldilocks approach to leaky blood vessels: Not too stiff, but not too loose
Navigation
NEWS
MassDevice.com +3 | The top 3 med-tech stories for May 23, 2013
If you read nothing else today, make sure you're still in the know with MassDevice +3.
EuroPCR: Volcano touts positive early results for its lesion assessment system
Volcano posts positive preliminary findings demonstrating the benefit of a hybrid iFR/FFR approach to...
European regulators green-light valve-in-valve procedures
Medical device giant Medtronic says its European CE Mark is the 1st ever regulatory approval for...
Biosense Webster launches Afib ablation study for nMARQ system
Johnson & Johnson subsidiary Biosense Webster enrolls its 1st patient in the reMARQable clinical...
GPO: Healthcare collaborative teams up within the Premier network
Four health systems create a collaborative group as part of the Premier network
