Medical Device Tax Will Cost Boston Scientific $75M this Year, CEO Says

Boston Scientific CEO Michael Mahoney tells investors that the new 2.3% medical device sales tax will cost the company about $75 million in 2013.

Medtech giant Boston Scientific [1] (NYSE:BSX [2]) estimates that its 2013 medical device tax obligation will amount to around $75 million, president & CEO Michael Mahoney told an audience the company's analyst meeting in New York today.

The Massachusetts-based medical device company aims to overcome that hurdle along with slow growth in some of its key businesses, hoping to post 2013 growth that out-paces the rest of the market.