Edinburgh's Craneware lands $5.2m US hospitals deal

Craneware CEO and co-founder Keith Neilson. Picture: Neil HannaCraneware CEO and co-founder Keith Neilson. Picture: Neil Hanna
Craneware CEO and co-founder Keith Neilson. Picture: Neil Hanna

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Healthcare technology outfit Craneware has won a contract, worth $5.2 million (£4.2m), with a US hospital operator.

The Edinburgh-based firm, which specialises in developing billing software for the US healthcare market, said the “significant” deal, with an existing customer, builds on a seven-year contract originally secured in April 2014.

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The new agreement is expected to deliver additional revenues of $3.7m as the hospital network rolls out more of the Aim-quoted company’s services across its facilities, along with a further $1.5m boost on the back of an extension to the existing deal.

Chief executive and co-founder Keith Neilson said: “The extension of the solution set provided to this customer and increasing the duration of the original contract underlines the value our solutions bring to our customers.

“We have a very positive relationship with our customers, demonstrating sustainable value; we now look forward to this extension of our working relationship with this customer to over a decade.”

The deal comes just weeks after Craneware, which employs about 250 people, reported a 23 per cent jump in pre-tax profits to $7.5m for the six months to the end of December, on revenues 16 per cent higher at $26.8m.

Neilson told The Scotsman at the time of the results that the company was on the look-out for more acquisition opportunities, having struck its most recent deal in 2014 with the takeover of Ullapool software outfit Kestros, but noted that it was a “quite picky” buyer.

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