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Corporate Governance

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 Corporate Governance

Executive Summary

This report includes a study of Nanosonics Limited, Australia. The study includes an evaluation of the company’s policies and corporate governance standards. The report starts with an introduction and background to the company its recent history and the products. It then divulges into the company’s managing and executive board and an evaluation of the company’s financial and remuneration reports. The report also includes an evaluation of the company’s board orientation via an analysis of its recent press releases, company website and annual report. The report concludes with the interpretation of the company’s communication standards along the legitimacy theory.    

Introduction

Corporate governance can be defined as a system of rules and practices, which a company has to use for directing and controlling its operations.  It generally involves the balancing the interests of the company, its shareholders, stakeholders, management, financers, government, customers and the community. This report will be focusing on a company and its recent history, which is listed on the Australian Stock Exchange. It will highlight the latest annual report of the company it would provide a summary of the composition of board members including the ratio of independent and non-independent directors.  It will also highlight the reports from the chairperson and the CEO including the remuneration report, which summarizes the way in which the directories and executive are remunerated. This report will also focus on the company's most recent annual report and the media releases, which will define the structure of the board orientation. Finally, the interpretation of company Communications using legitimacy theory will also be highlighted in brief. 

Report:

Company Background

Nanosonics is one of the largest clinical based prevention Care Company that is based on Australia and was founded in the year 2001.  This company is headquartered in Sydney, Australia and have it shares listed on the Australian securities exchange in 2007.  The company has launched a Technology known as the trophon, which is one of the unique Technologies for HLD of intracavity and surface ultrasound probes (Nanosonics Ltd,.  Nanosonics is one of the companies that is included in the Australian Stock Exchange with the index number ASX 300 and is one of the largest 300 companies by market capitalisation. in that year, the company has also earned so much that it was listed on the Australian Stock Exchange with index number ASX200 which means that it was on the top 200 companies by market capitalisation. 

The company introduced the technology named trophon 2, which was one of the latest innovative ultrasound probe high-definition disinfection process. It is currently operating and almost 11 countries all over the world, which includes some of North America, Canada the United Kingdom, some parts of Europe. The company has almost 200 people working in all of these companies all around the world. This technology is available and almost 22 countries all Around the World including Ireland, Germany, France, Italy, Russia, Denmark Singapore and Hong Kong. The mission of the company is to improve the safety of the patients, clinics and the staff by providing them with an environment, which will be transformed by infection prevention practices and introducing new and Innovative Technologies to deliver improved standards of care(Nanosonics Ltd, 

The company aims to provide smart protection to the patients, the staff and the environment to reduce the risk and provide smart flexibility so that streamlines could be set up and can be customised to the ideas and perceptions of the customer.  It will, therefore, be helpful for improving efficiency and providing smart functionality, which will again enhance the experiences of the users.  The users can access the HLD technology, which will automatically increase the confidence to increase compliance (Nanosonics, 2018). It also helps to simplify the creation of accurate digital records with smart traceability and increase audit readiness in the process.  Finally, it helps in the smart integration process with simplicity connect to the hospital information system to simplify the data access. The company has performed through different Channelled partnerships, which lead to collaboration with different Global brands and helps the company to distribute its products and understand infection prevention challenges. The company earns revenue of 60.70 million a year and has a net income of 5.75 million.  The recent market capital of the company is 1.08 billion and the equity share of the company is 3.60 Australian dollars (News | Nanosonics Australia: trophon,  The company was awarded the environment solutions award and thus it recognises excellence in the export of goods and services by NSW business. 

Summary of corporate governance

Nanosonics is a company that has developed an innovative and unique automatic disinfection Technology.  It is listed on the Australian Stock Exchange with the code name of NAN NS one of the major innovation companies in the department of higher-level disinfection or HLD for ultrasound probes in more than 20 years.  This proprietary technology has been implemented in many countries in the world and has provided the users with the opportunity to become the new standard of care (Resources | Nanosonics Australia : trophon, 2018).  This company has been able to introduce new safety and effective addresses so that the issues with traditional ultrasound probe disinfection can be eradicated and the company can develop to address significant unmet needs of the area of infection prevention. This report also focuses on the financial highlights of the company including the last year's budget. It has also focused on the letter of the Chairman and the report of the CEO. 

It was also provided with the regional highlights and the Governance of the environment and the society.  It has also talked about PSG of trophon, which is the benchmark for ultrasound probe HLD (Researchgate.net, 2018). This report has highlighted the board of directors of the company along with the executive team and the way and which these people are remunerated.  It also provides with the directors' report and the auditor's Independence declaration, which gives a clear picture of the company’s gross financial statement.  Finally, the financial statements and the directors' declaration have been provided along with the independent auditor's report. The shareholders' information along with the corporate directory and information for investors is provided too. 

The directors of the company include Richard England who was a non-executive Director and is currently the FCA, MAICD, Marie McDonald who was the former non-executive Director and is an Honour in BSC and LLB. The next director is Michael Kavanagh who is the CEO of the company, the present Managing Director and the president. He is an MBA and BSc advanced.  Maurie Stang Is another director who is a non-executive chairperson and fifth is the David Fisher, who is a non-executive Director and is an Honours in BSurSc, PhD and GAICD.  The last director is Steven Sargent, who is the former   Director and the Deputy Chairman (Board of Directors | Nanosonics Australia : trophon, 2018). 

 

 

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