European medical technology industry adopts new code of ethical business practice
Posted on 02.12.2015
Brussels, 2 December 2015 – Members of the European Diagnostics Manufacturers Association (EDMA) and of the European Medical Technology Industry (Eucomed), both members of MedTech Europe, have approved a new Code of Ethical Business Practice at their General Assemblies held on 2 December in Brussels, in a continuous effort to set high ethical standards for the medical technology industry across Europe.
EDMA and Eucomed members have adopted a new common Code of Ethical Business Practice, in a move to put forward clearer and more stringent self-regulation. The code will replace the EDMA and Eucomed codes of business practice and will be known as the MedTech Europe Code of Business Practice.
In a continuous effort to reinforce their ethical standards, EDMA and Eucomed have decided to take the lead and push forward a high-standard and harmonised common Code of Ethical Business Practice for the European medical technology industry.
The decision to adopt a common Code was driven by the fact that both EDMA and Eucomed current codes were established in 2007 and 2008 respectively and had their own specificities, which created inconsistencies in the rules applied to the industry. With the deepening collaboration between EDMA and Eucomed, both organisations also saw the need to align their codes.
The new MedTech Europe Code regulates all aspects of the industry’s relationship with Healthcare Professionals (HCPs) and Healthcare Organisations (HCOs), such as company-organised events, arrangements with consultants, research and financial support to medical education, amongst others. The Code also introduces a common independent enforcement mechanism.
The new MedTech Europe Code of Business Practice will become binding for EDMA and Eucomed corporate members by 1st January 2017. It will set the minimum standard by which industry members operate across Europe.
Rob Ten Hoedt, Chairman of MedTech Europe and Eucomed, said: “We are proud that the European medical technology industry has adopted one of the most modern and progressive codes of conduct, with strict, clear and transparent rules.”
Jürgen Schulze, Vice Chair of MedTech Europe and President of EDMA, added: “This is a landmark vote that reflects both how our industry is changing and how our partnership with healthcare professionals and healthcare organisations has evolved.”
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About MedTech Europe
MedTech Europe is an alliance of European medical technology industry associations. The Alliance was founded by EDMA, representing the European in vitro diagnostic industry, and Eucomed, representing the European medical devices industry. Other European medical technology associations are welcome to join the Alliance, established to represent the common policy interests of its members more effectively and efficiently.
Our mission is to make value-based, innovative medical technology available to more people, while supporting the transformation of healthcare systems onto a sustainable path. We promote a balanced policy environment that enables the medical technology industry to meet the growing healthcare needs and expectations of its stakeholders. In addition, we demonstrate the value of medical technology by encouraging our members to execute the industry’s 5-year strategy. For more information, visit www.medtecheurope.org.
EDMA, European Diagnostics Manufacturers Association, advocates for the interests of the in vitro diagnostics (IVD) industry and its enormous contribution to transforming healthcare systems by improving healthcare efficiency and reducing costs. EDMA’s strength lies in its close co-operation with European institutions, patients groups, trade associations, health professionals, and academia, working together to shape EU policy that will most impact the lives of Europeans and reinforce the European IVD industry’s voice globally. From small businesses to major corporations, the European in vitro diagnostic industry is a market worth over €10.5 billion. Driven by research and development, 95% of the industry is comprised of small and medium size enterprises and approximately €1 billion per year is reinvested in R&D.
Eucomed is the European medical technology industry association. Its mission is to make modern, innovative and reliable medical technology available to more people. Eucomed represents directly and indirectly 25,000 designers, manufacturers and suppliers of medical technology used in the diagnosis, prevention, treatment and amelioration of disease and disability. Small and medium sized companies make up more than 95% of this sector. The market size is estimated at roughly € 100 billion. The industry employs more than 575,000 highly skilled workers.