Medtronic CEO gets specific on the ‘Medical Device Tax’

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With the debate & passage of healthcare reform now in the rear view mirror, all that is left is to sift out how it will affect each of us….as individuals and professionals working in the life sciences industry.

Perhaps earlier than expected, medical device CEO’s are taking to the airwaves to outline how the new legislation, and specifically the ‘excise tax’, will reap $20 billion in healthcare savings from the pockets of the medical device industry starting in 2013. Medtronic CEO Bill Hawkins spoke to CNBC late last week, with very specific insight into how the tax will affect the company’s business.

Best we can tell, this is the first CEO publicly announcing specific financial estimates of how the tax will be paid. Will it affect R&D and lead to layoffs? Each CEO will have to make their own decisions, yet the money will have to come from somewhere.

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