Senate confirms Price as HHS chief

The Senate confirmed Rep. Tom Price (R-Ga.) to head the Health & Humans Services Dept. in a 52-47 vote early this morning. No Democratic senator voted to support the new administration’s nominee, but he was passed through in the Republican-majority Senate.

Democrats spent hours last night protesting his confirmation, pushing the vote until 2 A.M. Senators pushed back against his stance on the Affordable Care Act and Medicare, as well as his involvement with healthcare stocks.

“Make no mistake: In the dark hours of the early morning, with the confirmation of Secretary Price, the Republicans launch the 1st assault in the war on seniors,” minority leader Sen. Chuck Schumer (D-N.Y.) said.

After Price was nominated as HHS chief, he drew scrutiny for the timing of some of his investments – he bought shares in Zimmer Biomet (NYSE:ZBH) days before introducing a bill to delay a program that was designed to change the way large joint implants are paid for.

Following the vote, the company’s political action committee donated to Price’s re-election campaign.

The administration claims that a broker made stock purchases for the Senator without his knowledge. Price pledged to divest all healthcare-related stocks, including his stake in Zimmer Biomet, if he is confirmed as HHS secretary.

Price appeared to be in more hot water last month after a Wall Street Journal report showed that Price was 1 of fewer than 20 U.S. investors invited to buy discounted shares into Australian medical company Innate Immunotherapeutics. Previously, Price testified that the shares were “available to every single individual that was an investor at the time.”

Sen. Elizabeth Warren (D-Mass.) suggested that Price should have been disqualified as nominee.

“He should have withdrawn his nomination weeks ago, and if he didn’t go voluntarily, the president and his friends in Congress should have quietly but forcefully pushed him out,” Warren said.

Senate majority leader Mitch McConnell (R-Kentucky) praised Price, calling him the “right man” to lead the department.

For Republicans, the confirmation is a step in the right direction towards repealing and replacing Obamacare. Sen. John Coryn (R-Texas) said yesterday that he hopes Price’s confirmation will get people moving on a plan.

“After 7 years we’ve got all kinds of great ideas, but we have to come together behind one,” he said.

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