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AdvaMed & BioOhio Discuss MedTech Impact on Ohio's Economy, Job Creation
Date:5/14/2012

COLUMBUS, Ohio, May 14, 2012 /PRNewswire-USNewswire/ -- Top leaders representing America's advanced medical technology and diagnostics industry came together today to discuss pressing public policy issues affecting job creation and medical innovation and to call for the repeal of the more than $20 billion medical device tax set to begin in January 2013.

U.S. Reps. Patrick J. Tiberi (R-Ohio) and Jim Renacci (R-Ohio) joined Walter M Rosebrough, president and CEO of Mentor, Ohio-based STERIS, and Mike Lynch, executive vice president of Dublin, Ohio-based Cardinal Health, along with Advanced Medical Technology Association (AdvaMed) President and CEO Stephen J. Ubl and BioOhio CEO Tony Dennis, in the policy discussion.

The group had a simple message: The medical technology industry is not only critical to quality health care, but to the creation of innovative new jobs in Ohio and across the country.

Medical technology companies – in Ohio and across the country – are world leaders in the development of new medical devices, diagnostics and essential equipment for patients worldwide, but that leadership is at risk.

"Our industry can be a partner in job creation and an engine for growth for our national economic recovery but public policies need to support that growth and allow us to compete on the global stage. Repealing the device tax is an important first step," Ubl said.

Medical technology is one of the only American manufacturing sectors that has a net trade surplus, exporting $5.4 billion more than it imports. It also accounts for 40 percent of the global technology market. But the U.S.'s lead has shrunk dramatically in the last decade, and we stand to lose further ground with the new tax.

To preserve and protect those jobs and the life-changing innovations created locally, AdvaMed and its member companies have developed a comprehensive Competitiveness Agenda. The agenda focuses on innovation, regulatory,
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SOURCE AdvaMed
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