50/50 Women on Boards™, a global advocacy campaign for championing women on boards, has commended Health Catalyst for its efforts to achieve gender balance and diversity on its corporate board of directors.
Health Catalyst has been designated a “3+” company in the 50/50 Women on Boards Gender Diversity Directory™ for having three or more women on its board.
Commenting on the recognition, Health Catalyst CEO Dan Burton said, “We are grateful to be recognized for the steps we’ve taken to achieve gender parity on the Health Catalyst Board. Still, when we look at data across the technology industry, relative to the immeasurable benefit of women in leadership roles, it is clear there is much work to be done. We remain committed to this important cause and will continue to advocate for gender diversity in all leadership positions.”
According to the Harvard Business Review (HBR), gender diversity improves the overall decision making of a company. The HBR study outlines that greater diversity of viewpoints can improve the quality of board deliberations, especially when complex issues are discussed, as different perspectives can increase the amount of information available.
In addition, a 2015 meta-analysis of 140 research studies on the relationship between female board representation and performance found a positive relationship with accounting returns.
Recognizing this tremendous value, Health Catalyst continues to elevate women to leadership positions. Currently, three women make up 37 percent of Health Catalyst’s eight-member board, and women make up 42 percent of Health Catalyst’s 31-person leadership team.
“Historically, women have experienced friction and structural barriers in their path to leadership positions. In my six years with the company, Health Catalyst has demonstrated an unwavering commitment to breaking down those barriers,” said Anita Pramoda, Health Catalyst Board Member & CEO of Owned Outcomes, Inc. “The organization’s efforts to address gender bias, foster inclusivity, and establish a company culture that recognizes the incredible potential of every team member, regardless of gender, is admirable. I’m proud to serve on the Health Catalyst Board and heartily congratulate the company and its team members on this honor.”
50/50 Women on Boards™ defines a gender-balanced and diverse board as one where women hold 50 percent and women of color hold at least 20 percent of board seats. As of Q4 2021, women hold 27 percent of the Russell 3000 company board seats, but only 8 percent of corporations (just 241) have gender-balanced boards. Russell 3000 is a market-capitalization-weighted equity index of the 3,000 largest U.S.-traded stocks.
“Investors and enlightened leaders continue to make institutional decisions that reinforce the business advantages of diverse boards,” said Betsy Berkhemer-Credaire, CEO of 50/50 Women on Boards. “We are pleased to recognize Health Catalyst for prioritizing this business decision that benefits its shareholders, employees, customers, and communities.”
In addition to this recognition, in March Health Catalyst was named to Women Tech Council’s 2022 Shatter List. This is the fifth year in-a-row Health Catalyst has been named to the council’s list of technology companies that are leading and accelerating progress toward breaking the glass ceiling for women in the industry.