B. Braun Medical Inc. has halted its plans to develop new corporate headquarters in Upper Saucon Township/Lehigh County Pennsylvania, because of the medical device tax, which is costing the company $13 million a year, the company's CEO Caroll Neubauer told MassDevice.com.
B.Braun announced in Oct. 2013 that it had purchased 21.5 acres of undeveloped land from Lehigh University in Bethlehem, Pa.
"We didn't invest in a major new headquarters, which was going to have an academy educational facility for salesforce, for physicians, nurses and hospital administration, state-of-the-art. I just couldn't build it. I didn't have the cash. That was probably a $40 million project," Neubauer told MassDevice.com. "I just stopped it in its tracks at that moment and said, 'The cash is going to go somewhere else. I can't do this right now.'"
Read the full interview at MassDevice.com.