MITA survey warns of medical device tax impact

The medical device excise tax set to go into effect on January 1, 2013, in the U.S. may force up to 41% of medical device manufacturers to reduce their U.S. workforces, according to a survey by the Medical Imaging and Technology Alliance (MITA).

More than one-fourth (26%) of MITA members responded to the survey, with respondents representing the spectrum of medical device manufacturers that comprise MITA membership.

Manufacturers expressed concern that the tax will lead to widespread job reductions and hinder innovation in the U.S. Those expecting to cut jobs said workers in manufacturing, sales, management, and service would be most significantly affected.

Twenty-nine percent also foresaw a reduction in research and development. Survey respondents expect to pay more than $287 million in additional taxes in 2013, MITA said.

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