Business

Philips Plans Split Into 2 Companies

Philips Healthcare parent Royal Philips plans to combine its healthcare and consumer lifestyle activities into a new company called HealthTech. As part of the strategic reorganization, Royal Philips’ lighting business will also become its own company.

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MITA, AdvaMed and MDMA support continued bipartisan efforts to repeal the device tax

The Medical Imaging & Technology Alliance (MITA), Advanced Medical Technology Association (AdvaMed) and the Medical Device Manufacturers Association (MDMA) today announced their collective support for the continued bipartisan efforts to repeal the 2.3 percent medical device excise tax. Yesterday, the House passed the Jobs for America Act (H.R. 4) with a vote of 226 to 191, which includes repeal of the device tax.

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Why are so many companies failing to pay the device tax?

The 2.3% medical device excise tax raised $913 million in the first half of 2013, or about 75% of what was expected. A look at the number of filers reveals a large part of the problem. Out of an anticipation as high as 15,000 filers, only 5,107 medical device tax forms were filed.

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AAA Acquires GE’s FDG-PET Sector in Italy

Advanced Accelerator Applications (AAA) announced today that it has acquired GE Healthcare’s FDG-PET radiopharmaceutical division in Italy.

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