Craneware plc Significant Contract Wins (6550E)
13 February 2018 - 6:00PM
UK Regulatory
TIDMCRW
RNS Number : 6550E
Craneware plc
13 February 2018
Craneware plc
("Craneware", "the Group" or the "Company")
Significant Contract Wins
13 February 2018 - Craneware (AIM: CRW.L), the market leader in
Value Cycle solutions for the US healthcare market, is pleased to
announce two significant new contracts with hospital providers in
the US. Both hospital providers are new customers to Craneware.
The first contract with a large blue chip healthcare provider,
sees Craneware's Value Cycle products being deployed across this
organisation's 20 hospitals. Craneware's solutions will be an
integral part of this provider's major system change, helping to
ensure revenue integrity during the initiative and beyond. This
contract is expected to deliver c$5m of revenue over its initial
multi-year term.
The second contract win with an innovative surgical hospital is
for the provision of Craneware's suite of products as part of its
strategic growth plans, deploying multiple Craneware solutions,
including the Trisus Platform and Trisus Claims Informatics. This
provider is focused on improving all aspects of its value cycle.
This multi-year contract is expected to deliver c$3.5m of revenue
over its initial term.
In accordance with the Company's revenue recognition policy, the
majority of the revenue resulting from these two contracts will be
recognised over future periods, adding to the Group's long term
visibility of revenue under contract, supporting ongoing financial
performance.
Keith Neilson, CEO of Craneware plc, commented, "These contract
wins confirm that the positive momentum and financial success we
reported in the first half of the year has continued into the
second half.
"This is further evidence of the strategic importance and value
that Craneware's solutions can bring to all sizes and complexities
of hospital healthcare providers, as they look to address the
challenges they face with the ongoing evolution of the US
Healthcare market.
"This continued momentum across the entire business, combined
with the strength of our solution set, means we are well positioned
to support our customers in the new era of value-based care and
deliver increasing stakeholder value."
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 Fisher
The information contained within this announcement is deemed by
the Group to constitute inside information as stipulated under the
Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
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 Pittsburgh
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
END
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