BLOOMINGTON, Ind.--(BUSINESS WIRE)--Today, Cook Medical applauds the successful efforts of legislators in both the U.S. Senate and House of Representatives to suspend the medical device excise tax for two years. This action is a continuation of the previous two-year suspension of the device tax in 2016 and 2017 and will be retroactive to January 1, 2018, when the tax was briefly reinstated. Suspension of the device tax has helped us to continue investing in our company to ensure that we remain ready to serve the needs of patients and clinicians as healthcare continues to evolve.
“Cook Medical would like to thank our congressional delegation for their leadership to extend the suspension of this tax on medical device companies. We appreciate the acts of Congress to benefit patients and employees,” said Steve Ferguson, chairman of Cook Group, Cook Medical’s parent company. “Since the tax was implemented in 2013, U.S. medical device companies both large and small have faced uncertainty for the future related to innovation for patients.”
“The two-year extension of the device tax suspension helps us to bring new life-saving devices to patients. As we look to the future, we will continue working with our congressional leaders for a full repeal of the medical device tax. Repealing this tax is crucial for patients who rely on medical devices and look to our industry to continue researching and developing projects that will innovate new therapies for those who need it most.”
Medical technology employs more than two million people directly and indirectly all over the United States. Cook Medical employs approximately 7,000 people in the U.S.
About Cook Medical
Since 1963 Cook Medical has worked closely with physicians to develop technologies that eliminate the need for open surgery. Today we are combining medical devices, biologic materials and cellular therapies to help the world’s healthcare systems deliver better outcomes more efficiently. We have always remained family owned so that we have the freedom to focus on what we care about: patients, our employees and our communities. Find out more at www.cookmedical.com, and for the latest news, follow us on Twitter and LinkedIn.