CBUY.L Regulatory News (CBUY)

RNS Reach

21 May 2014

cloudBuy plc

("cloudBuy" or the "Company")

cloudBuy welcomes transformative Care Act that will reform health and care

cloudBuy plc (AIM: CBUY), the cloud eCommerce marketplace, has welcomed Parliament's Royal Assent for the Care Act 2014, a landmark piece of legislation that will lead to the most significant changes to the health and social care system in more than 60 years.

A close reading of the Care Act reveals several new initiatives that will drive up quality, increase transparency and transform spending. This includes making local authorities responsible for early intervention, cutting the overall cost of care and facilitating access to preventative services that help maintain people's health. For individuals it gives greater power to improve social care delivery and helps vulnerable people and their carers to source equivalent services at the best price.

Health Minister Dr Daniel Poulter MP said, "We are putting people and their carers in control of personal care for the first time and helping local authorities to operate more efficiently. The intelligent use of technology to allow people to manage their own care at an early stage is critical to our plans for a modern care system that meets the needs of an ageing population and provides better care at a significantly lower cost to the individual and government."

"This is an ambitious step forward that will transform the lives of silver surfers and families of those who require any form of adult social care," said Ronald Duncan, Chairman and CIO, cloudBuy. "In the same way as the establishment of the NHS was a ground breaking step in global health, the Care Act is a ground-breaking step in global care.

"We recently commissioned a survey of the over 50s that showed eight in ten worry about aging and some are even being kept awake by their fears. This Act empowers everybody, whether they are self-funded or council supported, to ease their worries with greater control and more certainty over finding and purchasing appropriate care."

cloudBuy's e-commerce technology is already being used by several local authorities to put the requirements of the Care Act into practice.

For more information on cloudBuy's Health and Social care solutions, please visit www.cloudbuy.com

ENDS

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About cloudBuy PLC

cloudBuy, formerly @UK, is the world's leading transactional Cloud Platform.

cloudBuy has used the platform to build the world leading B2B ecommerce and eprocurement applications which address the full range of buying and selling activities, in an easy to use web and mobile experience. Along with other cloud based applications including Content Management, email and big data analysis.

The applications have already managed over $ 500 billion of spend and are being used by leading organisations around the world to deliver savings and improved services.

The applications are unique in delivering correct pricing in the complex world of B2B whilst being easy enough to use that the people with difficulties can use the system to buy their own social and health care.

For more information, visit www.cloudbuy.com