Edinburgh-based Craneware cheers '˜positive' start to year

Craneware chief executive and co-founder Keith Neilson. Picture: contributed.

The business, founded in 1999 and quoted on the Alternative Investment Market, was set to hold its annual general meeting yesterday. Chief executive and co-founder Keith Neilson said: “We have experienced a positive start to trading in the first four months of the year, in line with management expectations. Strong demand has continued across our enlarged product suite, from both new and existing customers.”

He added that its recent “financial performance summit” in the US was the best-attended in the history of the company, with representatives from about 600 hospitals.

“From the workshops and panel discussions at the event, it is evident that the move to value-based care is growing in momentum and hospitals are preparing for this shift.

“As we launch our new Trisus products over the coming weeks and continue to invest in future products over the coming years, we see the opportunity for Craneware to become a major player in the healthcare market, ensuring hospitals have the tools to thrive in this near era, improving both margins and patient outcomes.”

Craneware has about 300 staff, serves almost one third of all US registered hospitals, and in July said that it had signed a contract with a large hospital network in the eastern US expected to deliver “in excess of” $6 million (£4.6m) of revenue over its initial five-year term.

Neilson added yesterday: “With a continued high level of recurring revenues, a growing customer base, healthy cash balances and significantly increased addressable market through our expanding product suite, we look to the future with confidence.”