Craneware plc
11 January 2008
Craneware plc
('Craneware' or the 'Company')
H1 TRADING UPDATE
11 January 2008 - Craneware plc, (AIM: CRW) a leader in revenue cycle
management software solutions for the US healthcare market, is pleased to give
an update today on trading during the half year to 31 December 2007.
Following the Company's IPO on AIM in September 2007, Craneware has executed on
its strategy to further advance its market leading position. In the six months
to 31 December 2007, the Company signed up 96 new hospitals, compared to 64 in
the previous corresponding period. As a result, the Company's software is now
being used in 878 hospitals in the US, up from 800 at the beginning of the year.
Revenue for the first half of the year was in line with management expectations,
with new sales bookings being over 50% higher than the previous corresponding
period. Craneware's flagship product, Chargemaster Toolkit(R), was also once
again named top in its class by the prestigious industry research house KLAS in
the US.
As stated at the time of the IPO, the Company believes there is a significant
opportunity to sell additional software products into its customer base and as
such has added two further products to its suite aimed at the finance department
of US hospitals. In November, Craneware launched Patient Charge Estimator(TM),
which enables hospitals to efficiently and accurately provide prospective
patients with estimates of procedural charges. Yesterday the Company launched
Pharmacy ChargeLink(TM) which enables hospitals to improve the buying, billing
and reimbursement of pharmacy items.
Craneware has started the second half of the year with a strong pipeline of
sales prospects and this together with the new product launches gives management
confidence for the Company's performance for the full year. Overall, significant
progress has been made in H1 and the Company anticipates further positive
newsflow in H2. Craneware will be announcing Interim results on Tuesday 26th
February 2008.
Keith Neilson, CEO of Craneware, commented, 'We are delighted with the progress
made during the first few months of life as a public company. Craneware
continues to grow and we have maintained our leading position as a provider of
revenue cycle management software to US hospitals. The complexity of legislation
governing this sector, and the high proportion of hospitals still using manual
solutions to manage their revenue cycles, means we are operating in a vibrant
marketplace with opportunity for growth alongside continuing high levels of
contract renewals. We look forward to updating shareholders in February.'
For further information, please contact:
Craneware plc KBC Peel Hunt ICIS
+44 (0)1506 407 666 +44 (0)20 7418 8900 +44 (0)20 7651 8688
Keith Neilson, CEO Oliver Scott Tom Moriarty
Sandy McDougall, CFO Deon Veldtman Caroline Evans-Jones
About Craneware
Founded in 1999, Craneware has headquarters in Livingston, Scotland, with
offices in Florida, Arizona and Kansas, employing approximately 100 staff. The
Company's flagship product, Chargemaster Toolkit(R) ('CMT'), assists US
healthcare providers in reducing billing errors, ensuring the timely and
accurate submission of claims and managing compliance risk. More information
about Craneware plc and its services can be found on-line at the Company's
corporate website, www.craneware.com
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.