Stryker CEO: Medical device tax is 'a job-killing bill'

Fri, 09/07/2012 - 11:47am
Mass Device

Curt Hartman, the interim CEO of medical device company Stryker Corp., tells analysts that the medical device tax set for next year will force companies to move their operations overseas, eliminating American jobs.


Stryker (NYSE:SYK) is expecting the medical device tax contained in President Barack Obama's healthcare reform law to cost it roughly $130 million a year, according to interim CEO Curt Hartman.

During the Kalamazoo, Mich.-based medical device company's annual analyst day in Mahwah, N.J., yesterday, Hartman called the 2.3% excise tax "the elephant in the room."

"There's been wide discussion around what the impact will be on various companies. I would tell you right now, we have communicated that our impact would be somewhere in the [$130 million] range," he said.


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