Intuitive Surgical and MAKO Surgical Face New Medical Device Tax in 2013
April 19 2012 - 8:20AM
Marketwired
The aging U.S. population has been one of the driving factors for
demand in the Medical Device Industry, as health issues that
require medical devices are more common with the elderly. The
nation's population of those 65 and older will double between 2000
and 2030, according to the federal Administration on Aging. Despite
rapidly growing demand, revenues for the Industry are expected to
take a major blow in the coming years. The Paragon Report examines
investing opportunities in the Medical Devices Industry and
provides equity research on Intuitive Surgical, Inc. (NASDAQ: ISRG)
and MAKO Surgical Corp. (NASDAQ: MAKO)
Access to full reports can be found at:
www.ParagonReport.com/ISRG
www.ParagonReport.com/MAKO
The Patient Protection and Affordable Care Act (PPACA) will
place a new 2.3 percent tax on the sales of medical devices in the
U.S. starting in 2013. The device excise tax is charged on revenues
of the devices not profits. Add this on top of existing federal,
state, and local taxes companies in 2013 are looking to pay
approximately 50 percent for every dollar earned in 2013. As a
result we are already seeing companies downsizing their workforce,
and eliminating investment in new facilities in the U.S.
Paragon Report releases regular market updates on the Medical
Devices Industry so investors can stay ahead of the crowd and make
the best investment decisions to maximize their returns. Take a few
minutes to register with us free at www.ParagonReport.com and get
exclusive access to our numerous stock reports and industry
newsletters.
Intuitive Surgical, Inc., the industry leader in surgical
robotics, recently reported first quarter of 2012 revenue of $495
million, up 28% compared with $388 million for the first quarter of
2011. First quarter of 2012 revenue growth was driven by continued
robotic procedure adoption and higher da Vinci Surgical System
sales. First quarter of 2012 instruments and accessories revenue
increased 32% to $208 million from $157 million in the first
quarter of 2011.
MAKO Surgical Corp. announced that it plans to release first
quarter 2012 financial results after market close on Monday, May 7,
2012. Maurice R. Ferré, M.D., President and Chief Executive
Officer, and Fritz L. LaPorte, Senior Vice President and Chief
Financial Officer of MAKO, will host a conference call to review
the first quarter 2012 results starting at 4:30 pm ET on the same
day. The call will be concurrently webcast.
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The Paragon Report has not been compensated by any of the
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