U.S. med tech sector lost 28,000+ jobs under med device tax: AdvaMed

capitol-senateWhen the medical device excise tax was in effect, the med tech industry lost nearly 29,000, or 7.2%, of its jobs, according to an AdvaMed analysis of Department of Commerce figures. The drop occurred between 2012, the year before the tax was enacted, and 2015, when it was suspended in a tax and spending bill.

“These numbers reveal just how devastating of an impact the device tax had on our industry and underscore the urgent need for permanent repeal,” said AdvaMed CEO Scott Whitaker, in a statement. “At a time when American device manufacturers are ready to grow and create jobs, the best message this Congress and the Administration can send is through a full and permanent repeal.”

By Amirah Al Idrus | FierceBiotech

Image Credit: FierceBiotech

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About Peter Coffaro 1134 Articles

A growth-driven and strategic executive, Peter Coffaro commands more than 20 years of progressive management success within the medical device industry. As a District Sales Manager for Stryker Orthopaedics, Peter was responsible for managing and directing a regional sales force to achieve sales and profit goals within the Rocky Mountain region. Previously, he was the Director of Sales & Marketing for Amp Orthopedics. In this role, Peter was responsible for planning, developing, and leading all sales and marketing initiatives. Peter is a former orthopedic distributor in the Pacific Northwest. He has also worked with DePuy Orthopaedics as well as Zimmer, and held positions in sales, sales training, and sales management. Peter has an extensive background in organizational development, business development, sales management, negotiating and P&L management. Peter holds a B.S. degree in Biology from Northern Illinois University.

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