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A -- a cap on the -- just keep on coming down but it's not just putting the president politically it's also -- businesses directly.
Joining us now as Alex and down.
He's the chairman of the CEO of Nuvasive.
That is a medical device company I get the device short for Alex but are you telling me.
That this medical device tax -- you your company doesn't unquestionably.
To 2.3 percent device tax.
What that means for us in terms of our -- were roughly 700 million dollar company.
We have to curtail 200 jobs this year.
The bottom line -- about ten million dollars for us.
So we couldn't grow the way that we anticipated growing this year as it sounds like a small tax 2.3 percent at Kennedy its -- on something else buckled on 13% of -- what time you hit earnings.
It's a big hit on earnings you do you laid off people because in this directly yes 200 people.
That said the ten million comes off your earnings per you've got -- shell that out and it comes off your -- so you actually firing that -- laying them off.
And we have to -- it every two weeks.
Add insult to injury.
Every two weeks to two weeks have been -- -- -- cash flow you know you can't sit on the -- Kenya.
Okay how about innovation because unit in an innovation field he is and knowing that.
Well that's part of the issue I think in the surrounds Obama care in general is that it's -- -- in addition.
So for example would be putting a lot more into are indeed were on able to do so.
We're having to now go outside the United States a lot more to do -- clinical trials.
Because of the you have heavy burdens in with FDA.
In the United States and so it's a whole series of events relive that have made it very difficult for us to do business and work California base so.
We -- -- -- We have a great weather in the back of the highest -- so.
It's very hard to attract people -- -- company as a result of that as well now because of that and -- you know that I think to a seventy of 72 votes in the senate to repeal this medical device tax including I think somewhere in the region of twenty Democrats.
Do you hold out any hope that it will be -- you get back to a serious business yes I do I mean it's still has to make its way through to a bill.
But there seems to be support in the house -- seems to be some support in the senate.
The president said that he will not supported in the past so wolf who would happen I -- know what you do okay you'll with the new basis.
OK and you created this product now let me see if I got it rise.
You open up someone's the -- chronic back pain or whatever okay but chronic bad back.
You open up the spinal cord you -- -- -- device and it helps is.
That's rather crude way of putting it but is that how it -- as very crude actually foot and if this sounds terrible to.
-- actually -- -- that we do it is through a very small incision and instead of cranking open the spine through the front or the back would do it all through the side.
And so what we've effectively done -- taken major spine surgery and turned it into an outpatient procedure.
People the likes of Bill Walton of basketball -- now -- the procedure done I've had the procedure done.
About five years ago I had a two level low procedure done -- with her -- from an expose them.
I'm not a number of that obviously but.
I did have the procedure done.
But it's over it's a remarkable procedure in that you're able to get right back to activities and -- -- and is that what it's full relieves pain it'll get -- back on your feet literally the same days if not next day out of the operating room.
Faster better cheaper for health care on it's been -- huge advance negative with the tax US stock symbol is any UV a been in business ten -- this 700 million dollar revenues approximately industry Alex -- Keon off Nuvasive thank you very much for joining us and I appreciate it back and you get.
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