IRVING, Texas, March 6, 2013 /PRNewswire/ -- Novation, the leading health care supply chain expertise and contracting company for the members of VHA Inc., UHC, Children's Hospital Association, and Provista, LLC, announced today that it has once again been recognized as one of the World's Most Ethical Companies by the Ethisphere Institute, the leading international organization dedicated to the creation, advancement and sharing of best practices in business ethics, governance, anti-corruption and sustainability.
Out of a record number of nominations for the award, Novation secured a hard-earned spot on the list by implementing and maintaining ethical business practices and initiatives that are instrumental to the company's success, benefit the hospital members they serve and raise the bar for ethical standards within the industry.
"Not only did more companies apply for the World's Most Ethical Companies recognition this year than any year in the past, which demonstrates that ethical activity is an important part of many of these companies' business models, but we are also seeing more companies be proactive and create new initiatives that expand ethics programs and cultures across entire industries, such as industry-based ethics associations and other activities," said Alex Brigham, Executive Director of Ethisphere. "We are excited to see the 2013 World's Most Ethical Companies take these leadership positions, and embrace the correlation between ethical behavior and improved financial performance."
Additionally, Novation continues to hold the coveted Ethics Inside® Certification from the Ethisphere Institute. Ethisphere awards Ethics Inside® Certification exclusively to companies that not only have implemented adequate standards, systems and programs to reasonably prevent compliance failures and ethical breakdowns, but that can also demonstrate the existence of a superior employee and leadership culture that promotes ethical business practices.
"Novation is extremely honored to receive this prestigious honor for the second year in a row," said Jody Hatcher, President and CEO of Novation. "Ethics and integrity are at the very heart of our mission and values. The customers we serve are America's academic medical centers, pediatric facilities and community hospitals – the ones who produce the next generations of physicians and provide care for the most vulnerable in our society. We are dedicated to applying the highest standards of integrity to every aspect of our business."
Through in-depth research and a multi-step analysis, Ethisphere reviewed nominations from companies in more than 100 countries and 36 industries. The methodology for the World's Most Ethical Companies includes reviewing codes of ethics, litigation and regulatory infraction histories; evaluating the investment in innovation and sustainable business practices; looking at activities designed to improve corporate citizenship; and studying nominations from senior executives, industry peers, suppliers and customers.
Read about the methodology and view the complete list of the 2013 World's Most Ethical Companies at http://ethisphere.com/wme.
About Novation, Winner of the Ethics Inside® Certification
Founded in 1998, Novation is the leading health care supply chain expertise and contracting company for the more than 65,000 members of VHA Inc. and UHC, two national health care alliances, Children's Hospital Association, an alliance of the nation's leading pediatric facilities, and Provista, LLC. Novation provides alliance members with sourcing services, as well as information and data services. Based in Irving, Texas, Novation develops and manages competitive contracts with more than 600 suppliers. VHA, UHC, and Provista members used Novation contracts to purchase approximately $43 billion in 2012. Novation has earned the coveted Ethics Inside® Certification from Ethisphere Institute, a leading international think tank dedicated to the research and promotion of best practices in corporate ethics and compliance. Novation was also named on Ethisphere's World's Most Ethical Companies list, and is the only company in the health care industry to earn both distinctions for two consecutive years. To learn more about Novation, please visit http://www.novationco.com and follow @NovationNews.
About Ethisphere Institute:
The research-based Ethisphere® Institute is a leading international think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability. Ethisphere Magazine, which publishes the globally recognized World's Most Ethical Companies Ranking™, is the quarterly publication of the Institute. Ethisphere provides the only third-party verifications of compliance programs and ethical cultures that include: Ethics Inside® Certification, Compliance Leader Verification™ and Anti-Corruption Program Verification. More information on the Ethisphere Institute, including ranking projects and membership, can be found at http://www.ethisphere.com.