Cochlear Limited (Cochlear) is an Australia-based company engaged in providing implantable hearing solutions. The company’s solutions for various hearing loss include cochlear implants, bone conduction implants, and acoustic implants. The company operates in three geographical segments: Americas; Europe, Middle East and Africa (EMEA), and Asia Pacific.
In terms of the quality of its hearing devices, Cochlear has taken a steadfast approach to certify its products to various quality standards, receiving certificates for ISO 9001 and 13485, the Medical Device Directive, and the Active Implantable Medical Device Directive. In addition, the company has experienced only minor product recalls since January 2013, demonstrating the effectiveness of its quality assurance process. Cochlear also produced a code of conduct that addressed issues of corruption and, in particular, facilitation payments. The company has also adopted a ‘lean’ philosophy in which waste and pollution are minimized and employs a variety of green building and energy efficiency initiatives across several of its headquarters facilities around the globe, and the company implements a number of waste recycling programs as well. Lastly, the company has created a strong corporate structure, touting a majority independent board and split CEO and chairman roles.
Cochlear lacks a comprehensive environmental strategy and specific reduction targets. In addition, the company does not report key performance metrics across Environmental, Social, and Governance (ESG) issue areas, limiting the ability of stakeholders to engage with and track year-over-year progress.
Industry: Health Care
To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 3/31/2017 and may not reflect current opinions or subsequent events.