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Many prominent US companies have set up operations overseas to lower their tax bills
Washington
MEDICAL device maker Medtronic found itself in an enviable position in March when one of its executives joined a US trade mission to Peru, where there is a booming healthcare market. The trip included "matchmaking" meetings with Peruvian businesses and networking luncheons with the Lima Chamber of Commerce.
The delegation of more than a dozen healthcare companies also visited a new US$75 million hospital serving 600,000 people in Villa El Salvador, a sprawling shantytown on the outskirts of Lima. There, Medtronic received an influential shout-out. "Toured new state of the art hospital . . . Mission member @Medtronic provided their tech," Bruce Andrews, the deputy secretary of Commerce leading the trip, said in a Twitter post.
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