European medtech industry adopts new Code of Ethical Business Practice

Members of MedTech Europe have approved a new code of ethical business practice at their General Assembly in Brussels

The European Diagnostics Manufacturers Association (EDMA) and European Medical Technology Industry (Eucomed), both members of MedTech Europe, have adopted a new common Code of Ethical Business Practice in what they say is a move to put forward clearer and more stringent self-regulation.

The MedTech Europe Code of Ethical Business Practice will replace the EDMA and Eucomed codes of business practice in what MedTech Europe has said is an effort to set high ethical standards for the European medical technology industry.

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.”

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.

Jürgen Schulze, vice chair of MedTech Europe and president of EDMA, said: “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.”

The new MedTech Europe Code of Ethical Business Practice will become binding for EDMA and Eucomed corporate members by 1st January 2017.