At Forbes.com, writes:
ZOLL Medical Corporation is one of the medical device companies in the bull’s eye of. ZOLL President Jonathan Rennert explained that the new taxes the law imposes on his company’s revenue – revenue, not profits – will raise ZOLL’s tax rate to greater than 50%, which will in turn drastically curtail the company’s investment in research and development. “The medical device tax would have completely wiped out our profit if it were in effect over the last several years,” Rennert said. “Every one of the jobs in our company is now in the U.S. But we will have every incentive to move jobs offshore” when the tax takes effect in 2013. “The medical device tax will lead to less innovation, fewer jobs, and fewer lives saved.”
Timothy Ring, chairman and CEO of C.R. Bard, Inc., said the medical device tax is killing jobs, innovation, and America’s leadership in medical science. He cites as evidence: Investments in health technology firms are down 65% over the last five years.