CBUY.L Regulatory News (CBUY)

20 May 2015

cloudBuy plc

("cloudBuy" or the "Company")

New online marketplace powered by cloudBuy to meet growing social care needs

cloudBuy plc (AIM: CBUY), the global provider of cloud-based e-commerce marketplaces and B2B buyer and supplier solutions, is pleased to announce the expansion of its social care marketplace offerings. 

cloudBuy is working in association with Salvere, the social enterprise CIC, to provide a fully managed, customer-facing care marketplace to help meet the challenges of the Care Act, which recently came into force. The Care Act means local authorities must ensure citizens can access the information and advice they need to make good decisions about care and support.

The Salvere-branded care marketplace will enable citizens to directly contact social care experts to guide them in choosing care options. This means they can directly service their needs, thus assisting local authorities to meet the requirements of the Care Act as efficiently as possible.

Salvere has a strong track record in the support, planning and brokerage of care products and services. To date Salvere has focused on servicing the Lancashire region, a market which it estimates to be worth over £300m. It has built up relationships with over 350 care suppliers of all sizes servicing this region. This will provide a solid base for the launch of the marketplace, with plans to expand to other areas.

cloudBuy will charge a fee to on-board suppliers to the Salvere marketplace and take a percentage of the value of transactions which will flow through it.

cloudBuy CEO Lyn Duncan said, "We know how important the changes driven by the Care Act are to every local authority and to citizens making care choices for themselves or loved ones. UK adult social care is under increasing pressure and the current model is no longer sustainable. The obvious solution is to bring citizens and suppliers together via a friendly environment on the web. This can provide a purchasing experience similar to the online shopping sites with which everyone is familiar and offer citizens a selection from a wide range of care products and services."

Salvere's Chief Executive, Stephen Sloss said "One in five of the adult population need social care support. Our marketplace, powered by cloudBuy, will ultimately enable millions of people across the UK to access care and support with ease and confidence."

The Salvere Care Marketplace, powered by cloudBuy, has G-Cloud approved status and is the only fully managed e-marketplace listed on the UK Government Digital Marketplace.

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