Industry Asks If Small Business Loan Relief Applies To Companies With Equity Investors
A medtech industry group is asking the Trump administration to clarify if small medical device companies that have equity investors qualify for small business loans and forgiveness under the coronavirus relief package.
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AdvaMed has had to adjust to the new COVID-19 reality like everyone else. In an exclusive interview with Medtech Insight, the head of the industry group says they are putting some key issues such as user-fee negotiations, anti-kickback legislation and breakthrough technologies reform on the back burner to prioritize dealing with the current crisis.
A $2.2tn coronavirus stimulus package signed into law by President Trump on 27 March will distribute billions of dollars to federal agencies – including the FDA, the CDC and the FEMA – to hasten approvals of new diagnostics, medical ventilators, respirators and other medtech supplies, conduct more testing of potential COVID-19 patients, and quickly distribute medical supplies where needed most.
After reviewing real-world data, the US agency says the decontamination systems should only be used for compatible facemasks and should not be used to clean a mask more than four times.