Rep. Tom Price is likely to be grilled in a Wednesday confirmation hearing for his nomination to be Department of Health and Human Services secretary about a new report that he invested in a medical device company just before introducing a bill that would have directly helped the company.
Price bought between $1,001 and $15,000 worth of shares in Zimmer Biomet, according to House records that CNN reviewed. Just days later, the Georgia Republican introduced legislation that would have delayed until 2018 a regulation from the Centers for Medicare and Medicaid Services widely believed to be detrimental to the company.
The report is the latest in a series of ethical concerns dogging Price, who President-elect Trump has nominated to lead HHS. Price traded about $300,000 in shares over the past four years while pursuing legislation that could affect the companies.
Price is scheduled to face the Senate Health, Education, Labor and Pensions Committee on Wednesday, in his first confirmation hearing to lead the leading federal health agency.
Zimmer Biomet is one of two companies that would have been hurt the most by the new CMS regulations, according to CNN. The company is a leading manufacturer of knee and hip replacements.
