Craneware plc Significant Contract Win (0253V)
31 October 2017 - 6:00PM
UK Regulatory
TIDMCRW
RNS Number : 0253V
Craneware plc
31 October 2017
Craneware plc
("Craneware", "the Group" or the "Company")
Significant Contract Win
31 October 2017 - Craneware (AIM: CRW.L), the market leader in
Value Cycle solutions for the US healthcare market, is pleased to
announce the renewal and significant expansion of an existing
contract with a growing hospital operator in the US.
This $6m win sees the extension of a relationship that has been
in place since 2007, with the renewal of the customer's existing
Value Cycle solutions and the roll out of these same solutions to
further facilities that have been recently acquired by this
hospital network. The contract is expected to deliver $3.5m of
incremental revenue over this new five year term as the hospital
network rolls out these solutions at its additional facilities.
In accordance with the Company's revenue recognition policy, the
majority of the revenue resulting from this contract will be
recognised over future periods, adding to the Group's long term
visibility of revenue under contract.
Keith Neilson, CEO of Craneware plc, commented, "The expansion
of this relationship demonstrates the strategic importance of
Craneware's Value Cycle solutions to our customers, as they extend
their own hospital networks throughout the US. The strength of our
solutions and the value they deliver to all customers, including
large and complex health systems, allows us to deepen our
relationship with our customers as they address the challenges
resulting from the continued evolution to the new value based
re-imbursement environment.
"Having enjoyed our positive working relationship for a decade,
we now look forward to continuing to deliver sustainable value
throughout this new term."
For further information, please contact:
Craneware Peel Hunt Alma
plc
+44 (0)131 +44 (0)20 +44 (0)208
550 3100 7418 8900 004 4218
Keith Neilson, Dan Webster Caroline Forde
CEO
Craig Preston, Adrian Trimmings Hilary Buchanan
CFO George Sellar Robyn McConnachie
Josh Royston
About Craneware
Craneware enables healthcare providers to improve margins and
enhance patient outcomes so they can continue to provide quality
outcomes for all.
Craneware is the leader in automated value cycle solutions that
help US Healthcare provider organisations discover, convert and
optimise assets to achieve best clinical outcomes and financial
performance. Founded in 1999, Craneware is headquartered in
Edinburgh, Scotland with offices in Atlanta, Boston and Phoenix
employing over 250 staff. Craneware's market-driven, SaaS solutions
normalise disparate data sets, bringing in up-to-date regulatory
and financial compliance data to deliver value at the points where
clinical and operational data transform into financial
transactions, creating actionable insights that enable informed
tactical and strategic decisions. To learn more, visit
craneware.com and thevaluecycle.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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