Intuitive Surgical and MAKO Surgical Face New Medical Device Tax in 2013
The Paragon Report Provides Stock Research on Intuitive Surgical, Inc. and MAKO Surgical Corp.
NEW YORK, NY -- (Marketwire) -- 04/19/12 -- The aging U.S. population has been one of the driving factors for demand in the Medical Device Industry, as health issues that require medical devices are more common with the elderly. The nation's population of those 65 and older will double between 2000 and 2030, according to the federal Administration on Aging. Despite rapidly growing demand, revenues for the Industry are expected to take a major blow in the coming years. The Paragon Report examines investing opportunities in the Medical Devices Industry and provides equity research on Intuitive Surgical, Inc. (NASDAQ: ISRG) and MAKO Surgical Corp. (NASDAQ: MAKO)
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The Patient Protection and Affordable Care Act (PPACA) will place a new 2.3 percent tax on the sales of medical devices in the U.S. starting in 2013. The device excise tax is charged on revenues of the devices not profits. Add this on top of existing federal, state, and local taxes companies in 2013 are looking to pay approximately 50 percent for every dollar earned in 2013. As a result we are already seeing companies downsizing their workforce, and eliminating investment in new facilities in the U.S.
Paragon Report releases regular market updates on the Medical Devices Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.ParagonReport.com and get exclusive access to our numerous stock reports and industry newsletters.
Intuitive Surgical, Inc., the industry leader in surgical robotics, recently reported first quarter of 2012 revenue of $495 million, up 28% compared with $388 million for the first quarter of 2011. First quarter of 2012 revenue growth was driven by continued robotic procedure adoption and higher da Vinci Surgical System sales. First quarter of 2012 instruments and accessories revenue increased 32% to $208 million from $157 million in the first quarter of 2011.
MAKO Surgical Corp. announced that it plans to release first quarter 2012 financial results after market close on Monday, May 7, 2012. Maurice R. Ferré, M.D., President and Chief Executive Officer, and Fritz L. LaPorte, Senior Vice President and Chief Financial Officer of MAKO, will host a conference call to review the first quarter 2012 results starting at 4:30 pm ET on the same day. The call will be concurrently webcast.
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