26/06/2008
Scottish software provider Craneware, whose products help US hospitals optimise billing, is to supply San Francisco-based Catholic Healthcare West.
The AIM-quoted company says the contract covers the delivery of its Chargemaster Toolkit software suite and the newly launched Pharmacy ChargeLink product to 42 hospitals in the Catholic Healthcare West group. According to Craneware, these services and products will be introduced into the hospitals next year, with most revenues recognised in the company’s accounts from 2009 to 2013.
Craneware’s chief executive officer Keith Neilson says the company is replacing another supplier of revenue cycle management software at Catholic Health Care West. The other day, Craneware won a similar contract with Catholic Health East of Pennsylvania.
Floated last year at 128p and recommended by Growth Company Investor at 152.5p in February, shares in Craneware, which doubled profits to £820,000 pre-tax in the six months to December, have now reached 207.5p, valuing the company at £51.8 million. Hold on.
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