News
Innovative Mart Concept Offers Medical Device Makers Way to Lessen Tax Impact
:: May 20, 2010
By Kavita Sherman
Now that health care reform is law, its nearly $1 trillion price tag has to be covered. Expect $20 billion of the financing to be paid by medical device manufacturers, which are being assessed a 2.3 percent sales tax beginning in 2013. These companies are already scrambling for ways to lessen the effect of this tax on their bottom lines.
Medical device makers claim the tax will adversely impact their ability to compete. Money spent on the tax will likely reduce sales and marketing budgets and limit research and development. Smaller manufacturers say the tax sets them up for failure since bigger device makers can pass the tax on to customers, an option they say they lack.
This is where the Cleveland Medical Mart and Convention Center (MMCC) can help. The facility targets the medical and healthcare industries to bring buyers and sellers together in one state-of-the-art structure featuring a medical mart, convention center and education facility.
Cleveland MMCC Advantages
There are multiple ways medical device companies can save money—and lessen their tax burden—with Cleveland MMCC.
- Eliminate travel—A centralized one-stop facility means less money spent on traveling from place to place.
- Location—Affordable Cleveland, Ohio is a premier medical destination with Cleveland Clinic, University Hospitals, MetroHealth Medical Center, Summa Health System, Akron General Health System and other medical institutions in the region.
- Steady customer stream—More than 230,000 healthcare and bioscience professionals work and live in the region and are among the decision-makers expected to visit Cleveland MMCC.
- Enhance return on investment—Control sales and marketing expenditures by participating in multiple year-round trade shows and educational events from one location.
Cleveland’s Medical Mart opens in fall 2013 and is leasing space now. Learn more and begin building and expanding relationships with large customers in the Greater Cleveland region.
