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Medtech industry applauds measure to bolster U.S. chip production

Aug 1, 2022

The U.S. Senate recently passed the CHIPS (Creating Helpful Incentives to Produce Semiconductors) and Science Act to provide more than $52 billion toward semiconductor manufacturing in the U.S. over the next five years. 

Of that total, $50 billion would go toward semiconductor manufacturing, while $2 billion is earmarked specifically for producing so-called legacy chips that are often used in medical devices. 

“Any opportunity to bolster American chip semiconductor manufacturing is important, given the supply chain challenges all industries are facing – particularly the medtech industry as it strives to meet historically high demand for life-changing connected devices,” ResMed CEO Mick Farrell wrote last week, as reported here.

MedTech Europe, an industry lobby group, recently made a similar request of European regulators.

Medtech companies have been grappling with a global shortage of chips since the onset of the coronavirus pandemic in 2020. The limited supply has raised costs, forcing companies into the spot market to buy electronic components, and making it difficult for patients to get some critical devices.

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