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Pain For Medical Device Industry?

It was a historic moment for the Presidency of Barack Obama on Sunday, March 21st, after the House of Representatives passed the health care reform bill. Some 32 million uninsured Americans will eventually get health care coverage, with an estimated $940 billion to cover costs over a 10-year period.

Harry Rein, General Partner with Foundation Medical Partners however, does not think the legislation does enough to encourage innovation in the medical device industry. Rein’s main issue is with the multi-billion dollar tax placed on the industry. He’s concerned this will kill innovation, which is key in reducing costs in the health care sector. Will these taxes kill medical device industry?

Tune in to Closing Bell at 4pm ET to hear more of his views.

Mr. Rein was previously a member of the National Venture Capital Association Board of Directors as well as the President & CEO of GE Venture Capital Corporation. He also has a longstanding relationship with the Cleveland Clinic.

Liza Tan contributed to this article.

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