Corporate Governance Statement

2015 Ramsay Health Care Limited Annual Report

Ramsay Health Care Limited (the Company) is committed to delivering high quality health care services, long-term sustainable growth and shareholder returns. The Board recognises the importance of good governance in achieving these corporate objectives, in discharging its responsibilities to all stakeholders and in executing the broader role of the Company as a good corporate citizen. 2015 Initiatives and Highlights The Company has implemented a restructure of its risk management governance in response to the evolution of the Company’s growing global business. The Risk Management Committee is responsible for risk at a global level while specific risk management governance structures have been implemented for the management of risk in each region/country that the Company operates. Each country/region ultimately reports to the Risk Management Committee. As part of the Company’s long-term commitment to driving value in health care around the world, in August 2015 the Company entered into a strategic alliance with the International Consortium for Health Outcomes Measurement (ICHOM), becoming the first multinational hospital group to partner with the US-based organisation. ICHOM is a non-profit organisation founded to enable health care systems worldwide to measure and report patient outcomes in a standardised way. In April 2015 the Company appointed two high calibre Non-Executive Directors to the Board in Ms Patricia Akopiantz and Ms Margaret Seale, following an extensive global search. Ms Akopiantz and Ms Seale bring a valuable skill set and wealth of experience to the Board. Ms Akopiantz has been appointed to serve on the Audit Committee and Ms Seale on the Risk Management Committee. As a result of the appointments of Ms Akopiantz and Ms Seale, the Board is now comprised of a majority of independent Directors (with six independent Non-Executive Directors, two non-independent Non-Executive Directors and two executive Directors). The Board adopted a Global Anti Bribery & Corruption Policy in June 2015, which applies to all of the Company’s related bodies corporate worldwide. The Company’s governance framework is designed to ensure that the Company is effectively managed, that statutory obligations are met and that the culture of personal and corporate integrity – The Ramsay Way – is reinforced. The Company remains steadfast in its commitment to maintaining the culture and principles of The Ramsay Way across all aspects of its business, honouring the architect of The Ramsay Way, the late Mr Paul Ramsay AO. This Statement outlines the Company’s governance framework, policies and procedures as at 8 September 2015 (unless otherwise stated) in accordance with the 3rd Edition of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations (ASX Recommendations) applicable at the date of this report. The table at the end of this section indicates where specific ASX Recommendations are addressed in this Statement. 1 The Board Generally The Company’s Board is committed to effectively representing and promoting the Company, thereby adding long-term value to all shareholders. The Board is accountable to shareholders for the management of the Company’s business and affairs and, as such, is responsible for the overall strategy, governance and performance of the Company. To clarify the roles and responsibilities of Directors and management, and to assist the Board in discharging its responsibilities, the Company has established a governance framework which sets out the functions reserved to the Board and provides for the delegation of functions to Board Committees and to senior management as considered appropriate. These are set out in the Board Charter, which can be found in the Corporate Governance section of the Company’s website (www.ramsayhealth.com/investors/ corporategovernance). The Company’s Statement of Delegated Authorities, which was most recently updated and approved by the Board in June 2015, will continue to be reviewed as required, particularly with the continued expansion of the Company’s global business. 16 RAMSAY HEALTH CARE ANNUAL REPORT 2015


2015 Ramsay Health Care Limited Annual Report
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