Since Tiffany Wilson, CEO of GCMI, announced the formation of Medtech Women@SEMDA at the SEMDA conference this year and the subsequent announcement of the Medtech Women@SEMDA conference on October 27, in Atlanta, I’ve received many questions about why we are doing this and what do we hope to accomplish. I’ve even received several questions that form the comment, “Aren’t we beyond that? I see women in senior positions all over the industry.”
There is no question that women have senior positions at many of the major medtech companies throughout the country, but this seems more anecdotal than an indication that the industry is where it needs to be. The statistics bear this out overwhelmingly.
In a recent edition of Medical Device & Outsourcing magazine, Brian Johnson, Publisher of MD&O and CEO of Device Talks, noted that as of the end of 2015 “not a single woman occupied the corner office at the top 100 medical device companies.”
AdvaMed drills down into these statistics even further.
- Of AdvaMed’s 47-person Board of Directors, only three are women
- Only 12 of AdvaMed’s 250+ member companies are led by women
- Women constitute only 12% of healthcare industry board directors
- Women account for 73% of healthcare company managers but only 4% of CEOs
Medtech Women@SEMDA is dedicated to enhancing opportunities for women in the medtech industry in order to change these numbers in the southeast. Although the group was formed for women, everyone has a part to play in this change. As I said to someone recently, if people who look like me aren’t part of the process, nothing will happen. So gentlemen in the SEMDA community, we need you too! Besides the fact that the programming at the Oct. 27 event will be useful for everyone, the benefits of added diversity cannot be denied. Again, from AdvaMed:
- Fortune 500 companies with more than 3 women on the Board have 66% higher return on invested capital
- Fortune 500 companies with more than 3 women on the Board have 42% higher return on sales
It’s time to make a difference. I look forward to seeing everyone on October 27 and at future Medtech Women@SEMDA events!