Corporate Governance

LifeHealthcare’s approach to Corporate Governance
The Board and management of LifeHealthcare recognise their duties and obligations to stakeholders to implement and maintain a robust system of corporate governance. LifeHealthcare believes that the adoption of good corporate governance adds value to stakeholders and enhances investor confidence.

The Board is accountable to shareholders for the activities and performance of LifeHealthcare by overseeing the development of sustainable shareholder value within an appropriate framework of risk and regard for all stakeholder interests. The key functions of the Board are outlined in the Board Charter.

To assist it in undertaking its duties, the Board has established the following committees:

  • the Risk Committee
  • the Audit Committee
  • the Remuneration Committee

Risk Management and Compliance
The management of risks is fundamental to LifeHealthcare’s business and to building shareholder value. The Board recognises the broad range of risks which apply to LifeHealthcare as a participant in the medical devices industry, including, but not limited to, market risk, funding and liquidity risk, credit risk, investment, strategic and business risk, reputation, licence, compliance and operational risk. The Board is responsible for determining LifeHealthcare’s risk management strategy. Management is responsible for implementing the Board’s strategy and for developing policies and procedures to identify, manage and mitigate risks.

Code of Conduct
The Board has adopted a Code of Conduct which applies to all Directors, executives, management, contractors and employees of LifeHealthcare. The Code of Conduct articulates the standards of honest, ethical and law-abiding behaviour expected by LifeHealthcare. Employees are actively encouraged to bring any problems to the attention of management or the Board, including activities or behaviour which may not comply with the Code of Conduct, other policies and procedures in place, or other regulatory requirements or laws.

Directors and Staff Trading Policy
Directors and staff are subject to restrictions under the law relating to dealing in securities, including the securities issued by LifeHealthcare if they are in possession of inside information. The Board has approved LifeHealthcare’s staff share trading policy which prescribes the manner in which Directors and staff can trade in LifeHealthcare’s shares. Pre-trade approval from either the CFO or Investor Relations is required for trading in LifeHealthcare securities.

Integrity of Financial Reporting
The Board has the responsibility to ensure truthful and factual presentation of LifeHealthcare’s financial position. The Board has established an Audit Committee to assist the Board to focus on issues relevant to the integrity of LifeHealthcare’s financial reporting. In accordance with its Charter, the Audit Committee must have at least three members, be comprised of all Non-Executive Directors and have a majority of independent members.

Continuous Disclosure
LifeHealthcare is committed to ensuring all investors have timely access to material information concerning LifeHealthcare and that company announcements are factual and presented in a clear and objective manner. The Board has approved and implemented a Continuous Disclosure Policy. The policy is designed to ensure compliance with the Corporations Act and ASX Listing Rules continuous disclosure requirements.

Please click on the below links for LifeHealthcare’s company policies

Corporate Governance Statement
Audit and Risk Committee Charter
Remuneration Committee Charter
Board Charter
Diversity Policy
Disclosure Policy
Evaluation of the Board and Senior Executives
Share Trading Policy
Shareholder Communication Policy