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Medtronic Cuts Estimated Medical Device Tax Impact in Half

Tue, 02/19/2013 - 5:07pm
Mass Device

Medtronic joins fellow medical device giants in forecasting lower 2013 medtech tax costs than previously anticipated.

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Medical device maker Medtronic (NYSE:MDT) this week became the latest in a string of medtech giants who have pared back their expectations of the impact of the 2.3% medical device sales tax.

Medtronic chief financial officer Gary Ellis told investors during a conference call this morning that the medical device tax will likely cost the company around $20-$25 million for the 2013 fiscal year, about half what the company had previously projected.

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