Alexander: Medical Device Tax Repeal “Critical To Creating Jobs” For Memphis And Tennessee

Thursday, May 2, 2013

At a press conference in front of Onyx Medical Corp., U.S. Senator Lamar Alexander (R-Tn.) said he’d push for a repeal of the medical device tax and press the Food and Drug Administration to lessen regulatory burdens on the industry, calling it “critical to creating jobs for Memphis and Tennessee.”

“This burdensome tax on medical devices is already costing Tennesseans jobs and hurting a crucial Memphis industry by increasing costs, stifling investment and ultimately driving up prices for patients in need of medical help,” Senator Alexander said. “Memphis has become an important center for medical devices, and the industry ranks as Tennessee’s top export. Repealing the Obamacare tax on medical devices – devices that save lives – is one of the most important things we can do to create good jobs for Tennesseans.”

The medical device tax, passed as part of President Obama’s health care law, places a 2.3 percent excise tax on medical device manufacturers. Tennessee’s Department of Economic and Community Development has identified medical device manufacturers as among the state’s most important exports, with U.S. Census data showing its $2.1 billion in 2012 ranks at the top of all state exports by dollar value.

Senator Alexander is a cosponsor of legislation to repeal the tax. He also supported a successful amendment to the Senate budget resolution in March, which demonstrated bipartisan support for repeal.

Senator Alexander’s remarks came before a tour of Onyx, which makes materials such as screws and wiring for medical devices. The senator also discussed the importance of battling over-regulation of the industry by the Food and Drug Administration, and working to make sure sequester cuts don’t negatively impact the use of federal money that the industry is still paying in full.

While Onyx does not pay the medical device tax, its customers that make medical devices do, putting price pressure on Onyx to deal with the cost of the tax and harming investment in its industry.

Senator Alexander said, “Onyx is a success story in an industry facing hardship at the hands of Washington.”

He cited as another example Smith & Nephew, a medical device manufacturer with a Tennessee presence that has announced it laid off nearly 100 employees in Tennessee and Massachusetts as it deals with the tax. The Medical Device Manufacturers Association has also reported thousands of lost jobs in the industry.


Gregory Sutton Joins Tennessee Oncology

Tennessee Oncology  announced the arrival of Dr. Gregory Sutton, a medical oncologist who cares for patients at Tennessee Oncology Chattanooga’s Medical Park II location at 2200 East Third St. in Suite 100. “Dr. Sutton is a great addition to our growing network of physicians committed to caring for cancer patients within their community and close to their home,” said ... (click for more)

Anne Ervin Joins Parkridge As Market Lead For Physician And Provider Relations

TriStar Health announced that Anne Ervin has joined Parkridge Health System as Market Lead for Physician and Provider Relations for the Chattanooga and North Georgia markets. Ms. Ervin is based at Parkridge Medical Center and is responsible for developing and executing outreach and Emergency Medical Services (EMS) growth strategies. In addition to her 25 years in healthcare, ... (click for more)

Healy Says Bass Pro Shop At East Ridge To Get Underway Next Month, New Hotel, Restaurants Planned Nearby; Sewers Are An Issue

Commercial realtor John Healy said Thursday that construction is set to start next month on the Bass Pro Shop at Exit 1 in East Ridge. He said it is due to open next May. Mr. Healy also said Wolftever Development that is carrying out the project has also bought additional land near the Bass Pro Shop site at the entrance to Camp Jordan Park. He said one purchase is America's Best ... (click for more)

Work Set To Start In October On $28 Million Retail, Office, Apartment Development At The 700 Block of Market Street

An Atlanta developer said work will start in October on a $28 million retail, office and apartment complex in the long-vacant middle of the 700 block of Market Street. Boyd Simpson of the Simpson Company said the project was made possible because his firm also owns the adjacent SunTrust Tower and can use some of its excess parking for occupants of the new building. He said ... (click for more)

Police Need To Stop The Road Cowboys - And Response (2)

Where is our highway patrol?  If they were known to regularly patrol our interstate highways through our city I don't think it would take long before the "truckers" were aware of it.  There are places in our country where this is the case.   When I have traveled Interstates 24 and 75 I may see the occasional car pulled over but rarely if ever is it an 18-wheeler. ... (click for more)

Roy Exum: Never Disturb The Dead

I’ve got too many things in my life that scare me so I’ve always been real leery of “unnecessary fear.” A guy named Terry wanted to teach me how to catch a live rattlesnake one time but had a tough time telling me what exactly to do with the angry serpent when the time came to let it go. I have the same view of these paranormal societies where otherwise sane people go around looking ... (click for more)