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U.S. Rep. Brad Schneider, MedTech Industry CEOs: MedTech Delivers Patient Value, Strengthens Illinois' Economy
Lincolnshire, IL – U.S. Rep. Brad Schneider (D-Ill.) joined CEOs from Illinois medical device and diagnostics companies, and other industry leaders, in a robust roundtable discussion today to address how the sector can help build and drive a healthy local economy while delivering value to patients worldwide. The roundtable took place at the Sysmex America, Inc. facility in Lincolnshire, Ill.
Nearly 12,000 employees work for medical device and diagnostics companies in Illinois, contributing $5.5 billion to the state’s economy. Overall, the industry supports more than two million jobs across the country.
Participants in the roundtable noted that sustaining this positive impact requires the right public policies to support value creation and continued investment in research and development – the kind of investment that helps grow high-technology manufacturing jobs in America.
“It is critical that our state and federal legislators recognize the significant economic contributions made by medical device and diagnostics companies in Illinois so they can continue to advocate for policies that allow our industry to grow and lead the world in medical innovation,” said John Kershaw, chief executive officer of Sysmex America, Inc. “We are proud that our industry can make powerful contributions to the state of Illinois, and we look forward to creating even more growth and innovation by working with AdvaMed, iBio and our legislators to further improve the business environment.”
“Innovative companies like Sysmex and the ones AdvaMed and iBIO represent are responsible for some of the most exciting and critically-important breakthroughs in modern medical technology,” Schneider said. “I’m proud that the Tenth District communities are home to so much of this innovation and development.”
Advanced medical technologies help patients live longer, healthier lives and get them back to work more quickly while lowering long-term health care costs. Over the last 30 years, medical progress helped add more than five years to U.S. life expectancy, reducing fatalities from heart disease and stroke by more than half while cutting mortality from breast cancer by over 30 percent.
“We are pleased to have Rep. Schneider’s leadership in this very important discussion. The medical technology industry provides incredible value to patients, health care systems and economies, and we are grateful for the opportunity to highlight and identify important policy initiatives that are pivotal for the advancement of the med tech and diagnostics industry in Illinois and throughout the U.S.,” said Andy Fish, executive director of AdvaMedDx.
“Rep. Schneider has been a leader in our effort to repeal the job-killing $30 billion medical device tax,” Fish continued. “Repealing this tax will help promote growth, job creation and economic competitiveness in Illinois and across the country. In addition, Rep. Schneider was a champion of historic legislation passed this spring to modernize and improve Medicare’s Clinical Lab Fee Schedule.”
“The medical technology industry is fueling local economic growth and providing medical advancements that save lives, cut costs for patients, reduce long-term health care expenditures and improve quality of life for millions of patients,” said John Conrad, vice president of operations, iBIO. “By supporting policies that are pro-growth, our state and federal governments will enable the medical technology industry to flourish, a necessity for the economy and the future of patient care in America.”
Panel participants also included Andrew Cittadine, president and CEO of Diagnostic Photonics of Chicago.
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.
AdvaMed’s Life Changing Innovation campaign focuses on how medical technology brings value to patients, improved quality and efficiency for health systems, and good-paying jobs and other economic benefits. Learn more and read our industry’s inspiring stories at www.lifechanginginnovation.org.
AdvaMedDx member companies produce innovative, safe and effective in vitro diagnostic tests that facilitate evidence-based medicine, improve quality of patient care, promote wellness, enable early detection of disease and reduce overall health care costs. Functioning as an association within AdvaMed, AdvaMedDx is dedicated to the issues facing in vitro diagnostic companies both in the United States and abroad. Learn more at www.advameddx.org.
iBIO aims to make Illinois and the surrounding Midwest one of the world’s top life sciences centers, a great place to do business and a great place to grow new technology ventures. iBIO advocates for sound public policy at the local, state and federal levels, improves our region’s ability to create, attract and retain businesses, and orchestrates industry involvement to help restore America’s leadership in math and science education. To learn more about iBIO and its programs, visit www.ibio.org.