As MITA, AdvaMed and the MDMA announced July 15 that medical device manufacturers have already passed the $1 billion-dollar mark in medical device excise tax payments, business leaders from startups to the old hats said it will affect jobs, U.S. growth in the industry and patient care. Cuts have to be made somewhere, and that somewhere is in the operational budget.
’The billion dollars paid already this year is a billion dollars taken out of our economy, out of our jobs,’ said AngioDynamics CEO Joseph DeVivo.
’You can’t do this with paperclips,’ said Steve Ferguson, COOK Group Chairman of the Board. He said companies must choose between salaries, R&D or capital. ’In our case, we chose capital, looking to do our capital expanses overseas.’