CRW Craneware Plc

TIDMCRW

RNS Number : 9376V

Craneware plc

21 January 2013

Craneware plc

("Craneware" or the "Company")

Trading Update

21 January 2013 - Craneware(AIM: CRW.L), the market leader in automated revenue integrity solutions for the US healthcare market, provides an update on trading for the six month period ended 31 December 2012.

Trading has been positive in the first half of the financial year and the Company expects to report revenue growth to $20.1m (H112: $18.8m) with further growth at the adjusted EBITDA level of approximately 15% in comparison to the same period in the prior year (H112: $4.65m). This performance is in line with management's expectations, delivering similar first half to second half expectation splits as those seen in the previous financial year.

Keith Neilson, CEO of Craneware,commented, "The increased levels of sales activity discussed at the time of our final results in September 2012 have begun to contribute to revenue growth. Fiscal and regulatory pressures on US hospitals, including the recently announced expansion of the Medicare Recovery Audit Contractor Program, continues to drive interest in our suite of software solutions and we are confident in the ongoing strength of our position within this growing area of the US healthcare market."

Craneware will be announcing its Interim Results on 26 February 2013.

For further information, please contact:

 
 Craneware plc    Peel Hunt         Newgate Threadneedle 
 +44 (0)131 550   +44 (0)20 7418 
  3100             8900             +44 (0)20 7653 9850 
 Keith Neilson,   Dan Webster       Caroline Evans-Jones 
  CEO 
 Craig Preston,   Richard Kauffer   Fiona Conroy 
  CFO 
                                    Heather Armstrong 
 

About Craneware

Founded in 1999, Craneware has headquarters in Edinburgh, Scotland with offices in Atlanta, Arizona, Massachusetts and Tennessee employing over 220 staff. Craneware is the leader in automated revenue integrity solutions that improve financial performance for healthcare organisations. Craneware's market-driven, SaaS solutions help hospitals and other healthcare providers more effectively price, charge, code and retain earned revenue for patient care services and supplies. This optimises reimbursement, increases operational efficiency and minimises compliance risk. By partnering with Craneware, clients achieve the visibility required to identify, address and prevent revenue leakage. To learn more, visit craneware.com and stoptheleakage.com

This information is provided by RNS

The company news service from the London Stock Exchange

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