Medical device tax: Abiomed's Minogue takes to Capitol Hill to urge repeal
Abiomed chairman, president & CEO Mike Minogue testifies before the House of Representatives' Committee on Small Business that the impending 2.3% medical device tax will pose an extra burden on small businesses that "need every dollar to survive."
Abiomed (NSDQ:ABMD) chairman, president & CEO Mike Minogue took to Capitol Hill today to testify before the House of Representatives' Committee on Small Business, defending small medical device companies amid the burden they face as the medical device tax nears implementation.
A vocal advocate for repealing the medical device tax, Minogue has warned before that the tax, which applies to both companies with reported profits and those without, represents an unfair burden on small firms that "need every dollar to survive."
Speaking on behalf of medical device industry lobby AdvaMed, Minogue told committee members today that repealing the medical device tax is, in his opinion, the single most important thing Congress can do to help fledgling device makers.