Medtronic and Edwards Lifesciences are among the 135 organizations recognized by Ethisphere in its 2023 list of the World’s Most Ethical Companies. The annual analysis, now in its 17th year, includes honorees from 19 countries and 46 different industries. Organizations are chosen based on how much they have “demonstrated a commitment to ethical business practices through programs that positively impact employees, communities and broader stakeholders, and contribute to sustainable and profitable long-term business performance.”
“People look to businesses today to lead on important issues and to do right by all of their stakeholders,” Ethisphere CEO Erica Salmon Byrne said in a prepared statement. “It takes vision and values to explain your why and create the programs and practices that turn those statements into actions. We are thrilled to celebrate this year’s honorees as part of an exclusive group dedicated to leading by example on business integrity.”
According to Ethisphere, there is a key financial benefit to making ethical business practices a key priority. In fact, the company said, organizations that made the 2023 list outperformed a comparable group of organizations that did not make the list by more than 13% from January 2018 to January 2023.
Which healthcare organizations were chosen for the 2023 World’s Most Ethical Companies list?
Medtronic (Ireland) and Henry Schein (United States) were the only two organizations included in the list’s “Healthcare Products” category.
“We strive to act responsibility and earn the trust of our customers and communities, and this award is a true testament to our 95,000+ global employees and the customers we serve,” Geoff Martha, Medtronic chairman and CEO, said in a statement. This was Medtronic’s first time making the World’s Most Ethical Companies list.
Henry Schein issued its own statement about the news, noting it was the company’s 12th time making the list.
“On behalf of the more than 22,000 Team Schein Members, we are pleased to once again be recognized by Ethisphere as one of the World's Most Ethical Companies,” Stanley M. Bergman, chairman of the board and CEO of Henry Schein, said in the statement. “Our commitment to the success of the stakeholders that make up our ‘Mosaic of Success’—Team Schein members, customers, supplier partners, shareholders and society—has long been the foundation of our purpose-driven approach to business. Fulfilling this commitment requires tackling significant external challenges to our collective success, including climate change, health inequities, supply chain resilience, and the underrepresentation of women, ethnic minorities and other diverse populations in health care, among others.”
Edwards Lifesciences (United States) was the only business listed in the “Medical Devices” category.
Eli Lilly and Company, Pfizer and Zoetis, all from the United States, were all listed in the list’s “Pharmaceuticals” category. Zoetis is known for its medications for animals.
Also, four healthcare providers—HCA Healthcare, Northwell Health and University Hospitals from the United States, Covenant Health from Canada—were included in the list.
Click here for a full list of honorees.