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Medical device industry hopes GOP shift in Congress thaws VC outlook
San Francisco Business Times

The political heat applied with the Republican takeover of the Senate could thaw the funding freeze for medical devices. While the GOP led in the Senate by Kentucky’s Mitch McConnell may not succeed in overturning the Affordable Care Act, it may take the ACA out at the knees by repealing or cutting a 2.3 percent tax on medical device company revenue. “Some degree of device taxes is reasonable,” said Dan Burnett, who operates the TheraNova med device incubator in San Francisco’s biotech-rich Mission Bay neighborhood. “I hope that it can be altered.”