UpFront: GE Healthcare CEO discusses impact of medical device tax

GE Healthcare President and CEO Tom Gentile says his company largely supports the Affordable Care Act, but that a tax on medical devices in the legislation will cost the company tens of millions of dollars.

“It will behave more like an expense, and just like any other expense, we will manage it,” Gentile said on Sunday’s “UpFront with Mike Gousha” program, which is produced with editorial assistance from WisPolitics.com. “We don’t know, though, all of the elements [of the tax] … but it is going to be tens of millions of dollars for us.”

Gentile said the business climate is favorable for GE in the state, due to good relationships with state and local government and with the university system, which provides engineering talent.

“The engineering talent that we have here enables us to stay at the forefront of technology and innovation,” he said.
Gentile said the company has been in Milwaukee since 1951 and will continue to be.

“We have deep roots here and Milwaukee is always going to be the center of our activity in the health care equipment space,” he said.

He said continued growth in the U.S. and increased growth in overseas markets could lead to more jobs in Milwaukee.

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