MITA, AdvaMed and MDMA support continued bipartisan efforts to repeal the device tax

The Medical Imaging & Technology Alliance (MITA), Advanced Medical Technology Association (AdvaMed) and the Medical Device Manufacturers Association (MDMA) today announced their collective support for the continued bipartisan efforts to repeal the 2.3 percent medical device excise tax. Yesterday, the House passed the Jobs for America Act (H.R. 4) with a vote of 226 to 191, which includes repeal of the device tax.

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House passes bill to repeal, refund medical device tax

On September 19th, the House voted 253-163 to approve the “Jobs for America Act,” a package of bills that had already individually passed the lower chamber. The package includes a measure that would roll back the 2.3% excise tax on U.S. sales of medical devices and issue a retroactive refund to companies for payments made on the tax since it went into effect last year. The U.S. House of Representatives voted to repeal and refund the medical device tax and promptly went into recess until after the mid-term elections in November.

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Why are so many companies failing to pay the device tax?

The 2.3% medical device excise tax raised $913 million in the first half of 2013, or about 75% of what was expected. A look at the number of filers reveals a large part of the problem. Out of an anticipation as high as 15,000 filers, only 5,107 medical device tax forms were filed.

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AAA Acquires GE’s FDG-PET Sector in Italy

Advanced Accelerator Applications (AAA) announced today that it has acquired GE Healthcare’s FDG-PET radiopharmaceutical division in Italy.

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