CRW Craneware Plc

 

TIDMCRW 
 
RNS Number : 3863T 
Craneware plc 
28 September 2010 
 

 
                                  Craneware plc 
                         ("Craneware" or the "Company") 
 
              Craneware secures $1.5m deal for Supplies ChargeLink 
 
28 September 2010 - Craneware plc (AIM: CRW.L; OTC: CRWRY), the market leader in 
automated revenue integrity solutions for the U.S. healthcare market, is pleased 
to announce that it has signed a four year contract for the delivery of its most 
recently launched solution, Supplies ChargeLink, to a long-standing U.S. 
hospital customer. The deal is worth over $1.5 million over the term of the 
contract and takes the total number of Craneware products in use at the hospital 
to four. Due to Craneware's annuity revenue recognition policy the majority of 
revenues will be recognised in future years. 
 
Launched in December 2009, Supplies ChargeLink became Craneware's fifth product 
and sits within the Company's Supply Management product family. The solution 
helps hospitals better manage and optimise reimbursement for chargeable 
supplies, automating the manual processes still used in the majority of U.S. 
hospitals. 
 
The growing fiscal and legislative pressures currently being experienced by U.S. 
hospitals mean management teams are seeking means of protecting slim operating 
margins in order to continue to deliver high standards of patient care. 
Craneware's product suite integrates clinical and financial data, enabling a 
hospital to capture all the reimbursement owed to them, to provide visibility 
into what they spend on supplies and ensure that they price, charge and code 
effectively and defensibly. 
 
This is the largest Supplies ChargeLink contract signed to date, adding to 
Craneware's growing sales momentum. 
 
Keith Neilson, CEO of Craneware commented, "This is a significant deal for us, 
validating our recent investment into both product development and our sales 
team. We believe our solutions such as Supplies ChargeLink are uniquely 
positioned to address a growing requirement within the U.S. healthcare industry 
for increased efficiencies, whilst managing mounting levels of compliance risk. 
We continue to focus on the execution of our growth strategy and are confident 
in our ongoing success." 
 
For further information, please contact: 
 
+----------------+----------------+----------------------+ 
| Craneware plc  | KBC Peel Hunt  | Threadneedle         | 
|                |                | Communications       | 
+----------------+----------------+----------------------+ 
| +44 (0)1506    | +44 (0)20 7418 | +44 (0)20 7653 9850  | 
| 407 666        | 8900           |                      | 
+----------------+----------------+----------------------+ 
| Keith Neilson, | Jonathan       | Caroline Evans-Jones | 
| CEO            | Marren         |                      | 
+----------------+----------------+----------------------+ 
| Craig Preston, | Richard        | Fiona Conroy         | 
| CFO            | Kauffer        |                      | 
+----------------+----------------+----------------------+ 
|                | Dan Webster    |                      | 
+----------------+----------------+----------------------+ 
 
About Craneware 
Founded in 1999, Craneware has headquarters in Livingston, Scotland with offices 
in Atlanta and Arizona, employing over 140 staff. Craneware is the leader in 
automated revenue integrity solutions that improve financial performance and 
mitigate risk for healthcare organisations. Craneware's market-driven, annuity 
SaaS solutions help hospitals and other healthcare providers more effectively 
price, charge and code for services and supplies associated with patient care. 
These optimise reimbursement, increase operational efficiency and minimise 
compliance risk. By partnering with Craneware, clients achieve the visibility 
required to identify, address and prevent revenue leakage. To learn more, visit 
craneware.com & www.stoptheleakage.com. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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