This rate is the highest for any sector in the last five years, and marks a steep increase from 2013.
The Wall Street Journal analyzed the database of 1,000 public and private companies from executive recruiter Korn/Ferry International. Here are five key takeaways from the report.
- Approximately 15 percent of healthcare and life sciences companies included in the database hired new CFOs in 2014.
- Merger and IPO activity contributed to the increase of CFO positions in healthcare companies.
- Healthcare companies assumed $323.1 billion in mergers and acquisitions in 2014, more than double the $115.1 billion in transactions in 2013.
- More than one-third — 37 percent — of the U.S.’ initial public offerings in 2014 were by healthcare and life sciences companies.
- While external appointments aren’t unusual, healthcare companies hired significantly more outsiders as their CFOs (57 percent of CFOs) compared with companies across all other industries (49 percent of CFOs). According to the Wall Street Journal, companies often seek out CFOs from other industries with experience dealing with mergers and acquisitions and the integration that follows.
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