Medical Device Tax: Cook Medical scuttles midwest expansion plans over levy

Medical device company Cook Medical says it is delaying expansion plans for 5 new facilities in the midwest because of concerns over the medical device tax

Cook Medical says it will not proceed on plans to open 5 new facilities in the midwest because of concerns about the medical device tax, according to published reports.

Pete Yonkman, executive vice president of strategic business units at the Bloomington-based medical device company told the Indianapolis Business Journal that the company will likely pay between $20 to $30 million once the 2.3% excise tax takes effect in January, 2013.