Device tax could add $175M to Medtronic's annual costs, exec says

02/22/2012 | Bloomberg

The proposed 2.3% medical device excise tax set to begin next year will cost Medtronic $125 million to $175 million a year, said Gary Ellis, the company's chief financial officer. "We’re going to have to make the trade-offs and there’s probably going to be things that we can’t do as a result of that," he said.

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