Letter to the Treasury Department on Chinese Control of U.S. Medical Technology

Chairman John Moolenaar sent a letter to Treasury Secretary Scott Bessent urging immediate CFIUS action regarding a Chinese pharmaceutical company’s controlling investment in FastWave Medical, a U.S. developer of laser-based intravascular lithotripsy technology. The letter warns that the investment threatens U.S. national security, risks the extraction of critical dual-use technology, undermines American medical innovation, and jeopardizes U.S. jobs and patient access to life-saving devices.

Read the full letter here.