Financial

Medtronic’s medical device tax bill was $112M

June 20, 2014 by Brad Perriello

Medtronic says it paid out $112 million during fiscal 2014 for the medical device tax enacted as part of Obamacare, or nearly 4% of total profits.

Medtronic (NYSE:MDT) said today that it paid out $112 million for the medical device task during fiscal 2014, representing a nearly 4% hit to the bottom line.

The world’s largest pure-play medtech company shelled out $21 million during fiscal 2013, according to regulatory filings. Medtronic’s fiscal year closes near the end of April.

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Josh Sandberg

Josh Sandberg is the President and CEO of Ortho Spine Partners and sits on several company and industry related Boards. He also is the Creator and Editor of OrthoSpineNews.

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