Craneware plc Significant Contract Win (2611A)
March 23 2017 - 2:01AM
UK Regulatory
TIDMCRW
RNS Number : 2611A
Craneware plc
23 March 2017
Craneware plc
("Craneware", "the Group" or the "Company")
Significant Contract Win
23 March 2017 - Craneware (AIM: CRW.L), the market leader in
Value Cycle solutions for the US healthcare market, is pleased to
announce a significant new contract with a large hospital operator
in the US.
This win, with an existing customer, adds further Value Cycle
solutions and related services to a seven year contract originally
announced in April 2014. The contract is expected to deliver a
further $3.7m of revenue over this new seven year term as the
hospital network rolls out these additional solutions across its
facilities and $1.5m of additional revenue as the contract for the
currently implemented solutions is extended to run co-terminus to
this amendment.
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 strategic
importance of Craneware's Value Cycle solutions allow us to add new
customers and deepen our relationship with our existing customers
as both groups address the challenges resulting from the continued
evolution to the new value based re-imbursement environment. The
extension of the solution set provided to this customer and
increasing the duration of the original contract underlines the
value our solutions bring to our customers. We have a very positive
relationship with our customers, demonstrating sustainable value;
we now look forward to this extension of our working relationship
with this customer to over a decade."
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
END
CNTGMGZFMZVGNZZ
(END) Dow Jones Newswires
March 23, 2017 03:01 ET (07:01 GMT)
Craneware (LSE:CRW)
Historical Stock Chart
From Apr 2024 to May 2024
Craneware (LSE:CRW)
Historical Stock Chart
From May 2023 to May 2024