Franken legislation would lift profit cap on some medical devices

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Sen. Al Franken (D-MN) yesterday visited Medtronic in Mounds View, MN. The senator met with several hundred company officials and employees to discuss legislation he plans to propose to get innovative medical devices to market more quickly and safely.

Franken_AlSen. Franken's bill would promote the development of devices to treat patients with rare diseases and would help improve the FDA approval process for medical devices by allowing the agency to more easily consult with experts. The legislation would also lift the current profit cap on all medical devices that receive FDA exemptions that allow the product to get to market much faster.

"Medtronic is an American institution and the perfect example of Minnesota's leadership in medical innovation," says Sen. Franken. "Times are tough across the country and in Minnesota, but the medical technology industry gives me confidence that we will get through these difficult economic times. As a nation, we need to do more to support this industry so it can continue to expand and provide high-quality jobs—not to mention life-saving technologies—to our markets and our hospitals."

Sen. Franken also met with doctors and patients who may be helped by his legislation. They all agreed on the need for these reforms during his visit.

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