• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Advertise
  • Subscribe

MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

  • Latest News
  • Technologies
    • Artificial Intelligence (AI)
    • Cardiovascular
    • Orthopedics
    • Neurological
    • Diabetes
    • Surgical Robotics
  • Business & Finance
    • Wall Street Beat
    • Earnings Reports
    • Funding Roundup
    • Mergers & Acquisitions
    • Initial Public Offering (IPO)
    • Legal News
    • Personnel Moves
    • Medtech 100 Stock Index
  • Regulatory & Compliance
    • Food & Drug Administration (FDA)
    • Recalls
    • 510(k)
    • Pre-Market Approval (PMA)
    • MDSAP
    • Clinical Trials
  • Special Content
    • Special Reports
    • In-Depth Coverage
    • DeviceTalks
  • Podcasts
    • MassDevice Fast Five
    • DeviceTalks Weekly
    • OEM Talks
      • AbbottTalks
      • Boston ScientificTalks
      • DeviceTalks AI
      • IntuitiveTalks
      • MedtechWOMEN Talks
      • MedtronicTalks
      • Neuro Innovation Talks
      • Ortho Innovation Talks
      • Structural Heart Talks
      • StrykerTalks
  • Resources
    • About MassDevice
    • DeviceTalks
    • Newsletter Signup
    • Leadership in Medtech
    • Manufacturers & Suppliers Search
    • MedTech100 Index
    • Videos
    • Webinars
    • Whitepapers
    • Voices
Home » Report: Trump fundraiser tried to cash in on N95 masks

Report: Trump fundraiser tried to cash in on N95 masks

June 23, 2020 By Sean Whooley

N95 respirator face masks coronavirus
N95 respirator [Image from the FDA]
The co-founder of a political action committee that has raised funds for President Donald Trump may have attempted to profit from N95 respirators made by 3M (NYSE:MMM), according to a report by CBS News.

The report said that, shortly after Trump invoked the Defense Production Act to obtain 3M’s respirators, Great America PAC (which raised more than $40 million in support of Trump) co-founder Eric Beach formed Colt International, touting connections with 3M despite having no known experience in supplying medical goods.

CBS News cited a letter sent to prospective customers and signed by Beach that claimed Colt International would work directly with 3M and its distributors and offering Beach’s contact information. Another letter claimed that Colt’s ties to 3M would provide local governments, hospitals and first responders access to a stock of “several billion units” of N95 respirators, which are in high demand during the COVID-19 pandemic, the network reported.

A letter from Colt’s partners said that Colt would be upselling the 3M masks after acquiring them, with a document confirming that the masks were offered by Colt for $2.20 each, compared to 3M’s list price of $1.27. Additionally, the group sought a 10% commission on the final sale, according to CBS News.

The network said it confirmed with 3M that the company had no professional relationship with Colt International, while Beach told the news outlet that he “only worked to connect medical buyers through various contacts” and had no professional relationship with 3M.

3M has spent much of the pandemic fighting against middleman sellers and price-gouging efforts centered around its N95 masks. Earlier this month, 3M said it has already filed more than a dozen lawsuits against fraud, price gouging and counterfeiting, winning five temporary restraining orders and four preliminary injunction orders.

The company also said that, amid the pandemic, the prices of its N95 respirators remains the same. So far, 3M has secured the removal of more than 3,000 websites with fraudulent or counterfeit product offerings, more than 4,000 deceptive social media posts and more than 100 deceptive internet addresses.

 

MassDevice reached out to the White House and 3M for comment but has not received a response. 

Filed Under: Business/Financial News, Featured, Legal News, Respiratory Tagged With: 3m, coronavirus, COVID-19, Defense Production Act, Donald Trump

More recent news

  • Medtronic earns CE mark for redo TAVI procedure
  • Natus Neuro launches BrainWatch AI-driven, point-of-care EEG
  • Boston Scientific has positive real-world Acurate Prime TAVI data
  • Johnson & Johnson MedTech launches ultrasound catheter for imaging in cardiac ablation procedures
  • Onward reports more successful BCI implants

About Sean Whooley

Sean Whooley is an associate editor who mainly produces work for MassDevice, Medical Design & Outsourcing and Drug Delivery Business News. He received a bachelor's degree in multiplatform journalism from the University of Maryland, College Park. You can connect with him on LinkedIn or email him at [email protected].

Primary Sidebar

“md
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest med device regulatory, business and technology news.

DeviceTalks Weekly

See More >

MEDTECH 100 Stock INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
MDO ad

Footer

MASSDEVICE MEDICAL NETWORK

DeviceTalks
Drug Delivery Business News
Medical Design & Outsourcing
Medical Tubing + Extrusion
Drug Discovery & Development
Pharmaceutical Processing World
MedTech 100 Index
R&D World
Medical Design Sourcing

DeviceTalks Webinars, Podcasts, & Discussions

Attend our Monthly Webinars
Listen to our Weekly Podcasts
Join our DeviceTalks Tuesdays Discussion

MASSDEVICE

Subscribe to MassDevice E-Newsletter
Advertise with us
About
Contact us

Copyright © 2025 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy