Nearly 50% Of Venture-Backed Healthcare Companies Have No Women On The Board, New Report Shows

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Sumary of Nearly 50% Of Venture-Backed Healthcare Companies Have No Women On The Board, New Report Shows:

  • Getty Women make the majority of healthcare decisions, represent three-quarters of the healthcare workforce, and account for more than 50% of medical students..
  • A new report, released today from Deerfield Management, quantifies the severity of gender disparity among healthcare investors and their portfolio companies..
  • Of 140 private venture-backed healthcare companies which have raised at least $25 million, nearly half (48.5%) have no women on their boards of directors..
  • “Board composition absolutely has an impact on the composition of the C-suite, and the C-suite absolutely has an impact on the layer below that,”.
  • According to a 2019 Oliver Wyman report, women represent 30% of healthcare chief-level executives and just 13% of CEOs..
  • “It is a vicious cycle—one can’t claim to support diversity and then find only men qualified because only men are allowed to be qualified.”.
  • In the top 44 healthcare investment firms, approximately 20% of investment professionals are women, though senior-level women are a smaller subset..
  • “This relationship between the absence of diversity in the investor world and the companies that they sponsor needs more of a light shone on it because we have to clean up our own house before we clean up the houses of our companies,”.
  • Given the influence investors have on board composition, lack of diversity among investors—in terms of gender and gender identity as well as race, ethnicity, and other measures—can solidify a lack of diversity in their investment portfolio..
  • Who have you been on a board with before who you know is someone you’ll feel comfortable grabbing a beer with after the board meeting.”.
  • Data shows that companies founded by women or with female executives or board members outperform all-male teams in returns on investment, equity, and sales..
  • Valuations are 63% higher for female-led teams than all-male teams and higher still for ethnically diverse teams..
  • “It is a breach of fiduciary responsibility for companies who have primarily female customers to have no female leaders or board members—stockholders should make that message clear,”.
  • “It is incredible that I continue to see companies focused on maternity, beauty, healthcare—where the primary customer is a woman—continue to have no place for women in their senior ranks except maybe an HR role..
  • Breaking Through In 2016, she launched Break into the Boardroom, a program to identify and support female executives seeking board roles..
  • in which women need board experience to be considered for board roles, the program prepares women and then actively promotes them for board opportunities….

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