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COVID-19: PPP Loan Program Awarded Up To $1.6Bn To Medtech Firms

 
• By Elizabeth Orr

Medical device companies – including Sientra, Endologix and Invacare – won loans from the US government’s Paycheck Protection Program, intended to protect jobs during the coronavirus pandemic. In total, nearly 1,400 device makers collected as much as $1.6bn, according to a Medtech Insight analysis of PPP data.

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Medical device companies collected as much as $1.6bn in loans distributed through the Paycheck Protection Program (PPP), a Medtech Insight analysis of data from the US Small Business Administration (SBA) shows.

The PPP, part of the CARES Act coronavirus relief package, directed loans of up to $10m to help small businesses continue to pay workers while shutdowns crippled the economy. Loans...

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