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Keyword: medicaldevice

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  • Theranos Whistleblower Shook the Company—And His Family

    11/16/2016 6:06:29 PM PST · by CorporateStepsister · 18 replies
    Wall Street Journal ^ | November 16 2016 | By John Carreyrou
    After working at Theranos Inc. for eight months, Tyler Shultz decided he had seen enough. On April 11, 2014, he emailed company founder Elizabeth Holmes to complain that Theranos had doctored research and ignored failed quality-control checks. The reply was withering. Ms. Holmes forwarded the email to Theranos President Sunny Balwani, who belittled Mr. Shultz’s grasp of basic mathematics and his knowledge of laboratory science, and then took a swipe at his relationship with George Shultz, the former secretary of state and a Theranos director. “The only reason I have taken so much time away from work to address this...
  • Theranos CEO Elizabeth Holmes is a victim, venture capitalist Tim Draper says

    11/16/2016 1:02:01 AM PST · by CorporateStepsister · 6 replies
    CNBC ^ | November 15 2016 | Michelle Fox | @MFoxCNBC
    Embattled Theranos CEO Elizabeth Holmes is a victim who has been "totally attacked," venture capitalist Tim Draper told CNBC on Tuesday. Holmes has been under fire since a series of reports by The Wall Street Journal suggested the blood-testing start-up's testing devices were flawed. "Elizabeth Holmes is a great example of maybe why the women are so frustrated. She is a woman entrepreneur who built a fabulous company, did great things for consumers and she got attacked," the founding partner of Draper Associates and Draper Fisher Jurvetson said in an interview with "Closing Bell." "This is a great entrepreneur who...
  • Walgreens Claims Theranos Voided 11.3% of Test Reports

    11/16/2016 12:57:38 AM PST · by CorporateStepsister · 10 replies
    Wall Street Journal ^ | Nov. 15, 2016 10:25 p.m. ET | By Christopher Weaver
    Theranos Inc. allegedly voided 11.3% of all blood-test reports that the Silicon Valley laboratory firm provided to customers of Walgreens stores through a yearslong partnership between the two companies, according to legal papers the drugstore chain filed Tuesday. Theranos, whose main lab failed an inspection by U.S. regulators earlier this year, told Walgreens in June that it subsequently voided 31,000 test reports provided to the chain’s customers, Walgreens said in the public version of a sealed lawsuit.
  • Walgreens Turns on Theranos in $140M Suit for Breach of Contract

    11/12/2016 2:19:03 AM PST · by CorporateStepsister · 8 replies
    Inside Counsel ^ | November 11, 2016 | By Ben Hancock
    SAN FRANCISCO – Walgreens has filed a $140 million breach of contract suit against Theranos Inc., compounding the woes of the Silicon Valley-based medical device startup. The suit was filed under seal in Delaware federal court on Tuesday. It's not clear what exactly the Illinois-headquartered pharmacy chain is alleging, but the docket describes the case as a breach of contract suit with a demand of $140 million.
  • Survey: Medical device tax has cost tens of thousands of jobs

    02/22/2014 10:25:34 AM PST · by SeekAndFind · 11 replies
    American Thinker ^ | 02/22/2014 | Rick Moran
    But it's "only" 2.3%! How can such a tiny tax have such a large negative impact? That's the thinking of the excise tax supporters who think that the medical device industry can "easily afford" the tax (New York Times) and besides, they deserve it because they're "anti-competitive": A new survey says Obamacare's tax on medical device manufacturers has cost the industry about 33,000 jobs.In a report this week, the Advanced Medical Technology Association (AdvaMed) said companies cut about 14,000 workers and decided not to hire about 19,000 workers because of theThe report also said the 2.3 percent excise tax also...
  • Over 30 Senate Democrats vote to repeal the medical device tax

    03/22/2013 11:58:17 AM PDT · by SeekAndFind · 40 replies
    Hotair ^ | 03/22/2013 | Erika Johnsen
    As I mentioned yesterday, the medical device tax that went into effect last January is just one of the many insidious job-killing measures contained within ObamaCare, but it is an especially terrible one. The 2.3 percent excise tax is meant to raise a handsome $30 billion to pay for ObamaCare over the next decade, except that, added bonus: It’s going to stifle innovation and competition in an industry that provides all manner of life-saving medical devices, from MRIs to pacemakers to blood tubes.And this hasn’t just been a Republican refrain, by the way. Thursday night, the Senate voted overwhelmingly to...
  • Dems Ask For Delay To Obamacare Med Device Tax They Voted For In The First Place

    12/12/2012 12:04:59 AM PST · by Lmo56 · 18 replies
    Americans For Tax Reform ^ | 12/11 | John Kartch
    In a letter to Majority Leader Harry Reid, 18 Democrat senators and senators-elect have asked for “a delay in the implementation” of the Obamacare medical device tax. Like most of the significant tax increases in Obamacare, the medical device tax is scheduled to take effect on Jan. 1, 2013, conveniently after the 2012 presidential election. Each of the 18 Democrat signatories voted for or supported Obamacare in the first place. And now they want a sweetheart exemption from one of its most onerous provisions. Even in Washington DC, that shows a lot of gall.
  • Merry Christmas, You're Fired...Love, President Obama

    12/03/2012 5:14:45 PM PST · by SeekAndFind · 22 replies
    American Thinker ^ | 12/03/2012 | Chad Stafko
    Thanks to the 62,615,406 individuals who took off their thinking caps and re-elected President Barack Obama, thousands upon thousands of folks are receiving their pink slips now or soon will over the next several weeks or months. These lost jobs are often high-paying and are disappearing by the hour. The culprit? It's none other than Obama's landmark legislation, The Affordable Care Act, aka ObamaCare. Re-electing Barack Obama guaranteed that the 2.3% medical device tax, a key funding source for ObamaCare, will go into effect on January 1, 2013. This transfer of money from these companies to the federal government, which...
  • This medical device tax to help pay for Obamacare is just not going to end well

    11/15/2012 12:56:35 PM PST · by SeekAndFind · 19 replies
    Hotair ^ | 11/15/2012 | Erika Johnsen
    Conventional wisdom: If you want less of something, put a tax on it. Obamanomics wisdom: Put a tax on... medical devices?! I.e., add another barrier to the industry whose slightest innovations can directly result in streamlined costs, improved efficiency, better health-care options, and saved lives? What the what?Embedded within the shadowy depths of the Patient Protection and Affordable Care Act (sometimes, I like to use its official name just to re-appreciate the irony of "patient protection" and "affordable") is a 2.3 percent excise tax on the sale of taxable medical devices by the manufacturer/importer --- and it's no small thing....
  • The Doomsday Device Tax

    09/05/2012 10:05:03 AM PDT · by george76 · 4 replies
    Free Beacon ^ | August 9, 2012 | Patrick Howley
    New Mexico Dem Senate candidate Martin Heinrich misleads with defense of medical device tax. Democratic New Mexico congressman and U.S. Senate candidate Martin Heinrich defended his vote to uphold a job-killing provision of Obamacare on Tuesday, despite his previous acknowledgment that the provision would have negative economic consequences for his home state. ... Heinrich voted June 7 of this year to uphold the 2.3 percent excise tax on medical device manufacturers that will take effect next year under Obamacare ... The medical device tax is sure to be a hot topic in the New Mexico campaign. New Mexico is home...
  • Surprise: Obamacare medical device tax killing jobs in the industry

    07/30/2012 2:46:11 PM PDT · by SeekAndFind · 6 replies
    Hotair ^ | 07/30/2012 | MARY KATHARINE HAM
    An Indiana-based medical device company is canceling plans to build five new plants in the Midwest because of the hit it will take from the 2.3 percent excise tax imposed by Obamacare.The new tax will cost Cook Medical Inc. between $20 million and $30 million a year, Pete Yonkman, executive director of Cook's strategic business told the Indianapolis Business Journal, limiting the amount Cook can spend on new plants. It took $30 million to revamp an abandoned factory in Canton, Ill. last year that will eventually employ 300 people in this small town."We had hoped, as we get bigger, that...
  • White House threatens to veto repeal of medical device tax (How NOT to encourage innovation)

    06/06/2012 6:21:32 PM PDT · by SeekAndFind · 1 replies
    Hotair ^ | 06/06/2012 | Erika Johnsen
    It is a truth universally acknowledged that, if you want to discourage a certain behavior, you can put a tax on it. (Note: I am in no way endorsing said policy, just pointing out that when you put a tax on something, you can reliably predict that you'll get less of it.) So, one would assume that through the oh-so-august auspices of the Patient Protection and Affordable Care Act, which include a forthcoming tax on the medical device industry, President Obama is trying to discourage... uh, medical device innovation? Gee, how nice.Rep. Erik Paulsen (R-Minnesota) is one of the Congressmen...
  • Medical-device manufacturer to lay off 1400 ...

    07/29/2011 11:28:20 AM PDT · by Nachum · 27 replies
    Hot Air ^ | 7/29/11 | Ed Morrissey
    In March 2010, Nancy Pelosi warned us that we had to pass ObamaCare to “find out what’s in it.” What is in it is jobs for China. What’s not in it is jobs for Americans, as the Boston Globe reports today (via NewsAlert): Boston Scientific Corp. said yesterday that it plans to eliminate 1,200 to 1,400 jobs worldwide during the next 2 1/2 years to free money for new investments, the Natick medical device maker’s second major round of cuts since last year. The company would not say how many jobs will be lost in Massachusetts, where fewer than 2,000...
  • The FDA Is Killing Private Enterprise (How the Heck is Q-Tip a Medical Device?)

    06/23/2010 6:54:11 AM PDT · by SeekAndFind · 18 replies
    National Review ^ | 06/23/2010 | John Derbyshire
    The first federal regulator I ever knew was a fellow named Ernie. This was 40 years ago, a few weeks after I’d first landed on these shores. I’d run out of money and taken work as kitchen help at a small family firm in New Rochelle, N.Y. The firm made frozen kosher TV dinners. They had a kitchen of course, a preparation room with half a dozen big stainless-steel tables where we made up the dinners, and a couple of freezer rooms where we stored them. The dinners were shipped out to hospitals, nursing homes, and some retail outlets. Because...
  • Obamacare’s Medical-Device Tax (Higher taxes, lower research spending, pink slips for scientists)

    11/02/2009 7:02:59 AM PST · by SeekAndFind · 17 replies · 877+ views
    National Review ^ | 11/2/2009 | Deroy Murdock
    Obamacare promises to make medicine cheaper by making it costlier. Case in point: The Senate Finance Committee proposes a brand-new tax on medical devices. Manufacturers of pacemakers, stents, heart valves, artificial hips, motorized wheelchairs, and other therapeutic instruments may have lobbied this tax in half. But whether they endure the $40 billion now in the Finance Committee’s bill or a $20 billion backroom bargain, Obamacare foolishly would hike taxes on companies that generate health-advancing, life-saving mechanisms. This Senate measure would slap a ten-year, $4 billion annual tax on medical implements that retail for $100 or more. “The $4 billion excise...
  • Rotating Bed Credited With Saving Lives

    10/21/2009 2:46:05 PM PDT · by DemforBush · 9 replies · 1,399+ views
    WRTV 6 ^ | 10/21/09 | Stacia Matthews
    DANVILLE, Ind. -- A high-tech, rotating bed already saving lives at Indiana hospitals could be critical in the fight against the H1N1 flu. Hendricks Regional, Methodist and St. Vincent hospitals are using the RotoProne bed, a complex contraption that helps alleviate lung pressure and restore normal breathing, 6News' Stacia Matthews reported...
  • The Innovation Tax : How Max Baucus's Health Care Plan will Knife the Medical Devices Industry.

    09/19/2009 10:12:30 AM PDT · by SeekAndFind · 9 replies · 603+ views
    Wall Street Journal ^ | 9/18/2009 | The Editors
    Supposedly the Senate’s version of ObamaCare was written by Finance Chairman Max Baucus, but we’re beginning to wonder if the true authors were Abbott and Costello. The vaudeville logic of the plan is that Congress will tax health care to subsidize people to buy health care that new taxes and regulation make more expensive. Look no further than the $40 billion "fee" that Mr. Baucus wants to impose on medical devices and diagnostic equipment. Device manufacturers would pay $4 billion a year in excise taxes, divvied up among them based on U.S. sales. This translates to an annual income tax...
  • Getting the needle in the first time, every time

    05/29/2005 7:21:53 AM PDT · by ddtorque · 14 replies · 664+ views
    Even the bravest and most stoic of us cringe at the thought of having a needle inserted into our veins to draw blood, or administer medication through an IV. The experience is particularly unpleasant and sometimes traumatic for those who have veins that are hard to locate, requiring a stretch of time and several attempts until the blood is flowing into the appropriate vial. Anyone who has been through this experience can appreciate the value of a new Israeli-invented device that makes the process far quicker and easier. The Vein Entry Indicator VEID device alerts the doctor, nurse or technician...