FOR IMMEDIATE RELEASE
April 24, 2008
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AdvaMed Commends House Efforts to Improve Small Business Funding
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WASHINGTON, D.C. – Stephen J. Ubl, president and CEO of the Advanced Medical Technology Association (AdvaMed), released the following statement today in support of House passage of the
Small Business Innovation Research Program Reauthorization Act (H.R. 5819):
“This bill offers help to small innovative medical technology companies and hope to patients waiting for new treatments and cures. AdvaMed applauds the U.S. House of Representatives for acknowledging the importance of the Small Business Innovation Research (SBIR) program in assisting small medical technology companies with the enormous task of developing promising medical devices and diagnostics for patients.
“We strongly support the provision which ensures that small companies that depend on venture capital for a significant part of their funding will not be denied access to SBIR assistance. Venture capital funding often is required for small companies taking the risk to produce a new life-saving technology.
“This important legislation will improve the SBIR program and expand on its success so that small businesses can continue to fuel U.S. job growth, economic growth, and our competitiveness in the global marketplace.
“AdvaMed thanks Rep. Nydia Velazquez (D-NY) and Rep. Steve Chabot (R-OH), Chair and Ranking Member of the House Small Business Committee for their recognition of the important role small companies play in the process of medical innovation. We look forward to working with Congress and the Administration to reauthorize the SBIR program before it expires on September 30, 2008, to ensure that small medical technology companies can continue bringing advanced medical technologies to patients.”
# # #AdvaMed member companies produce the medical devices, diagnostic products and health information systems that are transforming health care through earlier disease detection, less invasive procedures and more effective treatments. Our members produce nearly 90 percent of the health care technology purchased annually in the United States and more than 50 percent purchased annually around the world. AdvaMed members range from the largest to the smallest medical technology innovators and companies. For more information, visit
http://www.advamed.org.