MedTech companies can get compliance governance benchmarked against industry standard
Barcelona, 21 May 2014 – MedTech Europe, the alliance of European medical technology industry associations, announces today the extension of the successful Eucomed Ethical Business Logo Programme to non-Eucomed members. The programme allows any MedTech company to have its compliance governance benchmarked against the industry standard. In a verification process designed with guidance from one of the Big Four global accounting firms, companies must demonstrate their commitment to ethical principles outlined in the Eucomed Code of Ethical Business Practice. The Logo serves as a visible signal to the outside world that a company is serious about compliance.
Launched first in 2011 for Eucomed members, the Eucomed Ethical Business Logo Programme has now awarded the Logo to 15 MedTech companies. To bear the logo, companies must sign up to the Eucomed Code of Ethical Business Practice and demonstrate that they have: 1) established and implemented written policies and procedures consistent with the provisions of the Eucomed Code of Ethical Business Practice; 2) appointed a senior contact person within the organisation responsible for compliance with the organisation’s written internal policies and procedures and for transposing the Code internally, and 3) committed to providing regular, comprehensive training to employees on the principles laid out in the Code.
“The Eucomed Ethical Business Logo is very dear to my heart” Serge Bernasconi, CEO MedTech Europe, EDMA and Eucomed, said today at the Global MedTech Compliance Conference in Barcelona. “Our industry is very serious about compliance and we need to do a better job of communicating that. In addition to making the MedTech industry’s commitment to compliance more visible, the added value for companies is that their compliance governance is reviewed and their compliance officers receive extensive feedback. Bearing the Logo is really the next step in MedTech compliance.”
While the programme was designed initially with only Eucomed member companies and the Eucomed Code in mind, the establishment of MedTech Europe has brought the industry closer together on ethics and compliance issues. “We’ve come together under the MedTech Europe alliance and have realised that Eucomed members, EDMA members and every MedTech company face compliance challenges.” Bernasconi said. “We agreed that the time was right to open the Logo Programme up to the entire MedTech industry.”
More details on the Logo and a 90-second introductory video are available at eucomed.org/ethicalbusinesslogo