Medical Device Makers React to Proposed Billions in Fees to Pay for Health Reform

Officials from several medical device companies are upset about a proposal by U.S. Senate Finance Committee Chairman Max Baucus, D-Mont., to levy as much as $40 billion in extra fees over the next 10 years to pay for health reform legislation, according to a report by CNN Money.

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Speaking with investors and reporters, officials from Zimmer Holdings, Boston Scientific and Advanced Medical Technology Association, the industry trade group, said they opposed the proposal, which has not yet been written into legislation.

Ray Elliott, president and CEO of Boston Scientific, warned that the fees could lead to job cuts, reduced research and development, and moving company registrations offshore.

Read CNN Money’s report on proposed medical device company fees.

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