IRVING, Texas, March 20, 2014 /PRNewswire/ -- For the third consecutive year, Novation, the leading health care supply chain expertise, analytics and contracting company for the more than 100,000 members and affiliates of VHA Inc., UHC, Children's Hospital Association, and Provista, announced that it was recognized as one of the 2014 World's Most Ethical Companies by the Ethisphere Institute, an independent research organization that promotes best practices in corporate ethics and governance.
Through its World's Most Ethical Company® list, Ethisphere recognizes organizations that raise the bar on ethical leadership and corporate behavior. According to Ethisphere, honorees and their associates truly understand the correlation between ethics, reputation and daily interactions with their brand.
"The entire community of World's Most Ethical Companies believe that customers, employees, investors and regulators place a high premium on trust and that ethics and good governance are key in earning it," said Ethisphere's Chief Executive Officer, Timothy Erblich. "Novation joins an exclusive community committed to driving performance through leading business practices."
In addition, Novation recently announced that it again earned the prestigious Ethics Inside® Certification from the Ethisphere Institute. The designation involves a comprehensive review of business practices and independent verification and is awarded to companies that consistently exhibit a commitment to the highest ethical standards. Novation is currently the only company in the health care group purchasing organization (GPO) space to be certified by the Ethisphere Insitute.
"We are extremely honored to be recognized by Ethisphere once again for our shared commitment to model the highest levels of integrity and ethics throughout every aspect of our business," said Jody Hatcher, president and CEO, Novation. "The principles of ethics and integrity are built into the heart of our mission and values. It is a critical factor in our efforts to deliver the greatest value to the health care members we serve, which include the vast majority of America's academic medical centers, pediatric facilities and community hospitals."
The World's Most Ethical Company assessment is based upon the Ethisphere Institute's Ethics Quotient™ framework. The Ethics Quotient framework has been developed over years of effort to provide a means to assess an organization's performance in an objective, consistent and standardized way. The information collected provides a comprehensive sampling of definitive criteria of core competencies, rather than all aspects of corporate governance, risk, sustainability, compliance and ethics. The Ethics Quotient framework and methodology was determined, vetted and refined by the expert advice and insights gleaned from Ethisphere's network of thought leaders and from the World's Most Ethical Company Methodology Advisory Panel.
The full list of the 2014 World's Most Ethical Companies can be found at http://ethisphere.com/worlds-most-ethical/wme-honorees/.
About Novation, Winner of the Ethics Inside® Certification
Founded in 1998, Novation is the leading health care supply chain expertise, analytics and contracting company for the more than 100,000 members and affiliates 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 800 suppliers. Members of VHA, UHC, Children's Hospital Association and Provista used Novation contracts to purchase approximately $49 billion in 2013. 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 three consecutive years. To learn more about Novation, please visit http://www.novationco.com and follow @NovationNews.
About the Ethisphere Institute
The Ethisphere® Institute is an independent center of research, best practices and thought leadership that promotes best practices in corporate ethics and governance and enables organizations to improve compliance, mitigate risk, and enhance relationships with employees, business partners, investors and the broad regulatory community. Ethisphere evaluates and benchmarks compliance and governance programs, honors superior achievement through its World's Most Ethical Companies® recognition program and publishes Ethisphere Magazine. Ethisphere is also the leading provider of independent verification of corporate ethics and compliance programs that include: Ethics Inside® Certification, Compliance Leader Verification™ and Anti-Corruption Program Verification™. More information about Ethisphere can be found at: www.ethisphere.com.