Last checked at 15 Nov 2022 07:00
15 November 2022
Craneware plc
("Craneware" or the "Company" or the "Group")
AGM Statement and Board Appointment
Craneware (AIM: CRW.L), the market leader in Value Cycle software solutions for the US healthcare market, is pleased to provide an update on trading ahead of its Annual General Meeting for the financial year ended 30 June 2022, which takes place at 10am today.
The Group has continued to deliver a solid performance in the first four months of the new financial year, despite challenges remaining across US healthcare, as the market continues its slow recovery post pandemic. The Group has seen positive levels of cross-sales and competitive wins, benefitting from the increased breadth of offering, customer base, team and scale post the transformational acquisition of Sentry Data Systems and continues to successfully manage the impact of inflationary pressures on the cost-base.
The transition of customers to the cloud version of one of Craneware's leading offerings, Trisus Chargemaster, has continued to progress, with migration on track to be effectively complete by the end of calendar 2022. All customers are now utilising one or more of the Group's cloud offerings. The Group continues to invest in its team and operations, including the appointment of a Group CTO, Abhilesh Gandhi who will oversee the Engineering Group, reporting into the CEO. Mr Gandhi has over 20 years of Engineering experience including leading engineering teams in Cerner Corporation and Sentry Data Systems Inc before taking a leading role on the Product Board of the Craneware Group.
The continued momentum across the enlarged Group and the success Craneware has had in the past year against the backdrop of Covid, provide the Board with confidence in the ability to navigate the wider macroeconomic challenges.
Appointment of Non-Executive Director
The Company is also pleased to announce the appointment to the Board of Anne McCune as an Independent Non-Executive Director, with effect from 16 November 2022.
Anne is a recognised leader in the US Healthcare industry, having served as a senior executive for several leading academic hospital and physician centres and as a managing director in consulting. She is currently a Community Board member of the Strategy and Transformation committee at Salinas Valley Memorial Healthcare System in California, a principal in the academic healthcare division at ECG Management Consultants and President and CEO of the Carol Emmott Foundation, an organisation dedicated to achieving fully inclusive gender equality in healthcare leadership and governance. Anne holds an MBA from the Kellogg School of Management, Northwestern University and was recognised by Modern Healthcare as one of the 2021 Top 25 Women Leaders in Healthcare.
Commenting on the appointments, Will Whitehorn, Chairman of Craneware plc, said:
"We are delighted to have attracted executives of such quality and industry experience to Craneware. Anne and Abhilesh's understanding of the US healthcare market is exceptional, and we are confident they will provide us with valuable insight and strategic guidance as we continue to transform the business of healthcare."
Director Appointment Information
Current and Past Directorships of Anne Milner McCune, aged 67
USA
Current directorships
Anne McCune LLC
The Carol Emmott Foundation
Past directorships (in last 5 years)
Ronald McDonald House Charities Bay Area, Inc
There are no further disclosures required in accordance with AIM Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies.
For further information, please contact:
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Craneware plc | +44 (0)131 550 3100 |
Keith Neilson, CEO | |
Craig Preston, CFO | |
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Alma (Financial PR) | +44 (0)20 3405 0205 |
Caroline Forde, Hilary Buchanan, Joe Pederzolli | craneware@almapr.co.uk |
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Peel Hunt (NOMAD and Joint Broker) | +44 (0)20 7418 8900 |
Dan Webster, Andrew Clark | |
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Investec Bank PLC (Joint Broker) | +44 (0)20 7597 5970 |
Patrick Robb, Henry Reast, Sebastian Lawrence | |
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Berenberg (Joint Broker) | +44 (0)20 3207 7800 |
Mark Whitmore, Richard Andrews, Alix Mecklenburg-Solodkoff |
About Craneware
We at The Craneware Group of companies, including our latest additions Sentry Data Systems and Agilum Healthcare Intelligence, passionately believe we can impact healthcare profoundly by delivering the insights healthcare organisations need to also transform the business of healthcare. Our shared vision is to be the operational and financial partner for US healthcare providers.
Our combined suite of applications and industry-leading team of experts help our customers contextualise operational, financial, and clinical data, providing insights that clearly demonstrate what great looks like. These value cycle insights deliver revenue integrity and 340B compliance, as well as margin and operational intelligence - something no other single partner can provide.
Together, approximately 40% of registered US hospitals are now our customers, including more than 12,000 US hospitals, health systems and affiliated retail pharmacies and clinics. Our customers are operating with a financial impact of nearly half a trillion dollars. We have data sets from customers covering more than 150 million unique patients encounters.
Learn more at www.thecranewaregroup.com