Tom Price

Tom Price is Secretary of the Department of Health and Human Services.

  • Worked as an orthopedic surgeon in private practice (House website)
  • November 2004, Congressman Tom Price was elected to represent Georgia’s 6th district
  • In the 114th Congress, Price was named Chair of the House Committee on the Budget
  • He serves on the House Committee on Ways and Means
  • He has served as Chairman of the House Republican Policy Committee and Chairman of the Republican Study Committee

Timeline

Assessments

On Dec. 23,2016, NPR's Robert Siegel interviewed Michelle Hackman of the Wall Street Journal on the possible conflict of interest (NPR)

Tom Price, you know, by background is an orthopedic surgeon. So it's probably fair to start off by saying this man is deeply interested in health care. This is his background and so it makes sense that he'd also, you know, know more about health-related stocks than other companies. As of the most recent filings, he has ownership in about 40 different companies that add up to - and this is probably a conservative estimate - but about $300,000 at least.


From March to April 2016, Tom Price engaged in a series of ethical stock trading and insider dealing with Zimmer Biomet (Fierce Biotech)

Price purchased between $1,001 and $15,000 worth of Zimmer Biomet shares last March, CNN reported Sunday. Days later, he introduced the HIP Act, which sought to delay and suspend Medicare’s Comprehensive Care for Joint Replacement Model. The new regs seek to change the way Medicare reimburses providers and manufacturers for hip and knee implants.

After Price floated the bill, Zimmer Biomet’s political action committee donated to his reelection campaign, CNN reported. The company, which makes hip and knee implants, would have been among the hardest hit if the new regs are fully implemented.

"It clearly has the appearance of using your influence as a congressman to your financial benefit," said Larry Noble, general counsel at the Campaign Legal Center, as quoted by CNN. "If he believed in the bill, he should not have purchased the stock."


Further research

  • March-April 2016 Stock trades and regulations for Zimmer Biomet