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July 12, 2013
Representative Bill Owens, Bio/Med Leaders Address Ways to Improve New York's Manufacturing, R&D Leadership
Glens Falls, NY – Leaders of New York’s bioscience and medical technology industry joined U.S. Rep. Bill Owens (D-NY) today to address how companies within the sector can drive the state’s economic competitiveness and future growth. The roundtable took place at the Glens Falls manufacturing facility of NY-based AngioDynamics.
Nearly 20,000 employees work for medical technology companies in New York, and overall the industry supports a total of 47,000 jobs, contributing $7.4 billion to the state’s economy. The Bio/Med industry as a whole directly employs 73,300 New York State residents, including pharma, biotech and medical device sectors.
Still, as participants in the roundtable noted today, this positive impact must be sustained by policies that support continued investment in the development of new technologies and the creation of new jobs.
“As Congressman Owens has demonstrated today, it’s important for everyone to recognize the economic contributions made by the Bio/Med industry in New York State,” said Jessica Crawford, President of MedTech, which represents the state’s medical technology industry. “New York has a lot of room for advancement and MedTech looks forward to working with our members and legislators to improve upon the business environment that will support and grow our Bio/Med ecosystem.”
Medical technology also is a major contributor to medical progress, improving health, lowering long-term health care costs, reducing recovery times, and improving productivity. Between 1980 and 2000, medical progress added more than three years to life expectancy. The death rate from heart disease was cut in half, the death rate from stroke was cut by one-third, and the death rate from breast cancer was reduced by 20 percent.
“We are pleased Rep. Owens helped lead our discussion on the importance of supporting medical technology companies at the federal level,” said JC Scott, Senior Executive Vice President of the Advanced Medical Technology Association (AdvaMed). “We appreciated the opportunity to highlight for Rep. Owens the importance of ensuring that FDA is appropriately funded and has full access to its industry provided user fees. As a member of the House Appropriations Committee, Rep. Owens understands that a well-resourced FDA is critical to continued medical innovation.”
“In addition, Rep. Owens has been a leader in the effort to repeal the job-killing $30 billion tax on medical devices,” Scott continued. “Repealing this tax will help promote economic growth and job creation in our industry in New York and across the country.”
To that end, AdvaMed is promoting its Competitiveness Agenda as a roadmap to create an environment that is conducive to medical technology sector growth. The competitiveness agenda includes recommendations for tax policies, business development programs and patient access platforms.
“From economic impact to improvements in quality of care, medical technology is a driver of a stronger America. New York is an example of how states can also benefit from a vibrant medical technology sector,” said Joseph DeVivo, President and CEO of AngioDynamics. “We believe by embracing a competitiveness agenda that advances pro-growth policies, the United States can chart a path for a dynamic medical technology sector that improves lives around the world.”
Joseph Grohowski, President, Praxis Technology also participated in the roundtable discussion.
Learn more about AdvaMed’s Competitiveness Agenda here.