Craneware cashes in on Obama's health reforms

CRANEWARE, the Livingston-based healthcare software company, has reported a boost in profits and revenues as it looks to cash in on US president Barack Obama's healthcare reforms.

The firm, which specialises in auditing software for US hospitals, yesterday said its profits are expected to increase by 30 per cent for the half-year ending December 2009, up from $2.5 million (1.53m) in the first half.

Revenues also grew by 23 per cent, up from $10.6m in the first six months of 2009.

Keith Neilson, Craneware's chief executive, said: "At a time when the US healthcare market is facing increasing fiscal and legislative pressure, these solutions are increasingly relevant."

David Johnson, from Astair Securities, commented: "Craneware occupies a sweet spot in the US healthcare IT sector with its focus on improving the financial operation of hospitals and capturing lost revenues.

"With the increasing fiscal and legislative pressure in the sector, Craneware is enjoying strong demand."