Market Overview

BioUtah Statement on U.S. House of Representatives Passage of Legislation to Permanently Repeal the Medical Device Tax


BioUtah issued the following statement from President and CEO, Kelly
Slone, regarding passage of the Protect Medical Innovation Act of
(H.R. 184) in the U.S. House of Representatives:

"BioUtah applauds the bipartisan, overwhelming passage yesterday of the Protect
Medical Innovation Act of 2017,
to permanently repeal the 2.3%
excise tax on medical device sales. Continued uncertainty over the tax
could hamper investment in the next generation of life-changing medical
technology. We're pleased the House has taken this step. We're grateful
to the entire Utah congressional delegation who voted for the
legislation and have consistently pushed for action to end this
misguided tax.

"Utah's med tech industry is a significant part of the state's diverse
and growing life sciences industry. As a whole, the industry generates
70,000 jobs and creates $7.1 billion in state GDP. Leading medical
device companies in Utah, such as Biomerics, Merit Medical and Nelson
Laboratories, had their beginnings here in the state. Others, such as
BD, Edwards Lifesciences, Fresenius, Stryker and Varex Imaging, have
chosen to establish a significant Utah presence. These companies, along
with Utah's promising startups, produce technologies that improve and
save lives. Ending the tax will give clarity to this important industry
— supporting continued innovation, economic growth, and most
importantly, advancing patient care."

About BioUtah

BioUtah is an independent 501(c)(6) trade association serving Utah's
life sciences industry. Its member companies reflect a broad spectrum of
the industry with strengths in medical device manufacturing and
services, research and testing, biotechnology, pharmaceuticals, advanced
diagnostics and healthcare IT amongst others; and are a key driver of
Utah's economy.

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