Boston Scientific was an opponent of the medical device tax implemented in 2013 and recently highlighted the company's success since the tax was suspended last year, according to Boston Business Journal.
Here are five things to know:
1. Boston Scientific strongly lobbied against the tax in 2013, citing a potential correlated loss of U.S. jobs.
2. CEO Michael Mahoney claimed the 2013 tax eliminated up to 1,000 company jobs. The company reported paying roughly $75 million a year for the tax while it was in effect.
3. Boston Scientific took advantage of the device tax suspension, adding 2,000 employees over 2016 and investing in research and development, engineering, collaborations and targeted hiring.
4. The tax aimed to help cover the cost of expanding healthcare coverage.
5. Medical device companies lost over 28,000 jobs between 2013 and 2015 and it's speculated that eliminating the tax could create or save 53,000 global medical device jobs.
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