% | $
Quotes you view appear here for quick access.

CryoLife Inc. Message Board

  • richardred1 richardred1 Mar 26, 2013 11:09 AM Flag

    medical device tax repeal/bipartisan support

    The Senate voted 79-20 last week to repeal a 2.3 percent excise tax on medical devices, dealing a blow to one of the new taxes imposed to pay for health care reform.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • dlhild Mar 26, 2013 5:17 PM Flag

      But that vote was for an amendment to a Senate budget that won't become law until it can be reconciled with a much different budget blueprint from the Republican-controlled House of Representatives, so there's no guarantee that the repeal will survive.

      The Wall Street Journal reported that many of the Democrats who voted for the repeal did so with the caveat that they'll insist the $30 billion it raises be replaced. Finding a way to raise that much money somewhere else won't be easy.

      • 1 Reply to dlhild
      • I'll bet your a Nancy Pelosi Supporter. I'll bet you were for the 10% Luxury tax on boats to. That turned out being a disaster for the industry until repealed.

        In 2007, the total value of industry shipments for U.S. manufactured medical devices was $98 billion. The Company’s laparoscopic suturing tool is classified as a “Surgical and Medical Instrument,” a category that accounts for 26% of the medical device sales in the U.S. The medical device industry is very fragmented. In 2007, there were approximately 5,300 medical device companies in the U.S., mostly small and medium sized enterprises. Approximately 73% of these medical device companies had fewer than 20 employees, with 15% having as many as 100 employees.

        The U.S. is the largest consumer of medical devices in the world and leads the world in production, accounting for roughly 42% of the world’s total. In 2008, U.S. exports of medical devices were valued at approximately $31.4 billion while imports were value at $33.6 billion. The majority of imports are low tech products such as surgical gloves and instruments. Exports of U.S. manufactured surgical and medical instruments grew by 61.54% from 2002 to 2007.

        The stats were from the "Medical Market Fact Book 2008."

12.00+0.01(+0.08%)Jul 22 4:02 PMEDT