November 4th, 2009

Reports the Daily Local News:

Emerging medical device companies are strongly opposed to a 2.5 percent tax on the wholesale price of U.S.-made medical devices, a measure proposed in the Affordable Health Care for America Act.

On Tuesday, Paul Touhey, chief executive at oncology diagnostic products company Fujirebio Diagnostics, invited other Malvern-area biotechnology companies, who also specialize in medical device development, to weigh in on the subject.

The discussion was led by U.S. Rep. Jim Gerlach, whose concerns are for the commonwealth’s 600 medical device companies that employ 20,000 people.

The measure, House Resolution 3962, was introduced in late October by Speaker of the House Nancy Pelosi, D-Calif.

It is nearly 2,000 pages in length, 9 inches high and weighs in at a hefty 19 pounds.

The excise tax on medical devices — defined in the bill as devices used by a doctor, hospital or other health care providers — is found on page 339. Over-the-counter or retail purchases, such as a leg brace bought at the corner drug store, would not fall under the tax.
Find out more at the Daily Local.