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April 2, 2020

AdvaMed Statement on Media Reports of Price Gouging

WASHINGTON, D.C. – President and CEO of AdvaMed Scott Whitaker released the following statement:

“Given recent allegations of price gouging in some parts of the country, it is important to be perfectly clear:

“Our member companies’ No. 1 priority is saving lives and at no time in our history has that been more apparent than over the past month as they have dramatically ramped up production of the diagnostics and devices that are essential to identifying, treating and combatting COVID-19.

“While AdvaMed members set their prices individually and AdvaMed has no involvement in these decisions, we are confident that prices set by manufacturers on this much-needed equipment have remained consistent since before the pandemic began, even as the cost of component parts and materials have risen as the result of worldwide demand pressures. I am proud of our industry’s commitment to people over profits and their dedication to saving as many lives as possible.

“The price gouging appears to be from third parties who are hoarding products that are crucial to the public with the hope that doing so will drive up prices far beyond normal market levels. There is absolutely no evidence that AdvaMed members have engaged in that conduct. To the contrary, they are working as hard as they can to supply as many products as possible to health care providers and the patients we all serve.

“We fully support the president’s recent executive order granting U.S. Attorney General Barr the authority to prosecute any and all who engage in price gouging. We stand with the president and patients in fully condemning those who do.”

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AdvaMed member companies produce the medical devices, diagnostic products and health information systems that are transforming health care through earlier disease detection, less invasive procedures and more effective treatments. AdvaMed members range from the largest to the smallest medical technology innovators and companies. For more information, visit  www.advamed.org.