On Nov. 13, 2009, Harry Rein, General Partner of Foundation Medical Partners (a venture capital firm specializing in medical opportunities) was interviewed on U.S. financial cable channel CNBC about the future of innovation in the business of medical technology.
Mr. Rein feels that the inclusion of excise taxes on medical technology businesses as anticipated in upcoming U.S. healthcare reform legislation is counter-productive at a time when innovation is crucial to address the highest priorities in healthcare today; 1) better patient outcomes, 2) improved patient access to medical care, and 3) the potential to reduce medical technology costs.
The large number of aging 'baby boomers', who are looking for more healthy time to enjoy leisure and retirement activities, represent an attractive demographic for innovative medical technology companies.
In spite of temporary obstacles like increased taxation via U.S. healthcare reform, Mr. Rein is optimistic that dedication to innovation will continue to be a hallmark of today's medical technology marketplace for the foreseeable future.
('Closing Bell' program, CNBC, Nov. 13, 2009)
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