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MDMA Applauds Introduction of the “Start Up Jobs and Innovation Act”

Wednesday, November 6, 2013  
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MDMA Applauds Introduction of the "Start Up Jobs and Innovation Act”

Washington, DC – The Medical Device Manufacturers Association (MDMA) today applauded Senators Pat Toomey (PA) and Robert Menendez (NJ) for their introduction of the "Start Up Jobs and Innovation Act.”

The Act promotes sustained, private investment in small, highly-innovative companies focusing on the development of new technologies. It is aimed at helping American small business innovators gain access to private investment to incentivize breakthrough research and stimulate investment in groundbreaking research and development.

"MDMA thanks Senators Toomey and Menendez for their leadership in supporting the development of the next generation of life-saving devices and medical technologies,” said Mark Leahey, President & CEO of MDMA. "Medical technology innovators continue to face a challenging regulatory environment and hurdles to fair and adequate reimbursement. This legislation would help provide some much needed certainty and predictability for the innovative and entrepreneurial sector of the medical technology industry.”

An independent study by Ernst & Young (E&Y) estimates that this proposal will create 156,000 jobs while stimulating $10.3 billion in increased investment. MDMA is a member of the Coalition of Small Business Innovators (CSBI), a national group of 18 organizations representing research-intensive small businesses that supports this legislation.