Baucus investigates device-maker's pricing strategy

“Medtronic cancelling these contracts could considerably undermine our efforts to reduce health care costs and increase transparency for consumers and taxpayers,” Finance Committee Chairman Max BaucusMax BaucusChanging of the guard at DC’s top lobby firm GOP hasn’t reached out to centrist Dem senators Five reasons why Tillerson is likely to get through MORE (D-Mont.) said in a statement. “Medicare spends billions each year on medical devices for patients and we need to make sure these patients, and the taxpayers, are getting the highest-quality products at the best price.”

In a letter to the company’s chief executive, Baucus asked for records related to the canceled contracts, including any internal estimates of the effect on product prices. He also requested a list of all canceled contracts since 2000 and whether Medtronic plans to cancel any further contracts in the next two years.