The medical device industry’s lobbying spend hit its highest point since 1998 last year, nearing $33 million, as the industry stepped up its campaign to repeal the medical device tax enacted as part of Obamacare.
The $32.8 million spent to influence policy on Capitol Hill last year was a 5.9% increase over 2013, according to the Center for Responsive Politics’ OpenSecrets.org. Since 2004 medtech’s lobbying spend has grown 43.6% from $22.8 million; that number is up 267.6% since 1998, when the industry spent a mere $8.9 million on lobbying.
AdvaMed, the largest national lobbying group for medical device companies, spent $2.4 million on lobbying last year, according to the OpenSecrets website. The Medical Device Manufacturers Assn. put up $520,000, according to the site.
Not surprisingly, the world’s largest pure-play medtech business, Medtronic (NYSE:MDT), led the list with a $5.3 million lobbying spend. Other big medtech spenders included Baxter (NYSE:BAX), Boston Scientific (NYSE:BSX) and Smith & Nephew (NYSE:SNN).
Here’s a look at the top 10 largest lobbying spends for the medical devices & supplies category, according to the CRP website:
- Medtronic (NYSE:MDT): $5,310,000
- Baxter (NYSE:BAX): $2,820,000
- AdvaMed 2360000 Boston Scientific (NYSE:BSX): $1,740,489
- Smith & Nephew (NYSE:SNN): $1,740,000
- Elekta (STO:EKTA B): $1,345,000
- Cook Group 1140000 Becton Dickinson & Co. (NYSE:BDX): $1,040,000
- Edwards Lifesciences (NYSE:EW): $890,000
- Alere (NYSE:ALR): $889,000
And here’s a look at the medtech industry’s annual spend from 1998 to 2014: