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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.

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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.  

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News Well, Capitol Hill, Medical Device Tax
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