Hospitals

Analysis: Medtech gains on Wall Street and the Beltway with big GOP win

November 5, 2014 by Brian Johnson

Medical device stocks are on the rise today as investors react to sweeping Republican gains in the mid-term elections, which raises the likelihood of repealing the medical device tax.

The medical device industry put a lot of skin in the Grand Ol’ Party ahead of the mid-term elections, which is looking like a good bet this morning. The elections, which saw sweeping Republican wins across the country, were also wins for the medical device industry on Wall Street and inside the Beltway: After 4 hard-fought years, medtech can now anticipate a repeal of the medical device tax.

When the GOP takes control of the Senate in January, Sen. Mitch McConnell (R-Ky.) will take the reins as majority leader from Sen. Harry Reid (D-Nev.). In contrast to Reid, a staunch supporter of Obamacare who’s adamantly against repealing the medical device tax, McConnell has long been a vocal critic of the Affordable Care Act and has called repealing the law a “top priority.”

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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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