Craneware Regulatory News (CRW)

24 Jun 2008 08:34



Craneware plc

("Craneware" or the "Company")

Contract Win

Craneware signs contract with Catholic Health East for 16 acute-care hospitals 

24 June 2008 - Craneware plc, (AIM: CRW) a leader in revenue cycle management software solutions for the US healthcare market, has signed a contract with Catholic Health East, Newtown Square, Pa., for the delivery of Craneware's Chargemaster Toolkit® suite and the newly launched Pharmacy ChargeLink™ product. 

Craneware's software and services will be rolled-out across the hospital system, replacing an incumbent provider, through Fiscal 2009. As per Craneware's revenue recognition policy, the majority of revenues derived from these contracts will be recognised in Craneware's fiscal years FY09, FY10, FY11, FY12 & FY13. They will therefore not have a material impact on the current financial year's revenues due to finish on 30 June 2008.

Keith Neilson, CEO of Craneware plc, commented, "We are delighted to have been selected by Catholic Health East as their provider of revenue cycle management software, replacing one of our competitors. This is a great endorsement of the scalability and quality of our software and operations and a strong end to our first year as a public company." 

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About Craneware

Founded in 1999, Craneware has headquarters in Livingston, Scotland, with offices in Florida, Arizona and Kansas, employing over 100 staff. Craneware's products, which include the Company's flagship, Chargemaster Toolkit®, assist US healthcare providers in reducing billing errors, ensuring the timely and accurate submission of claims and managing compliance risk. More information about Craneware plc and its services can be found on-line at the Company's corporate website, www.craneware.com

About Catholic Health East

Catholic Health East is a multi-institutional Catholic health system, which is co-sponsored by 10 religious congregations, and Hope Ministries, a Public Juridic Person within Catholic Health East. Based in Newtown Square, Pa., the System provides the means to ensure the continuation of the Catholic identity and operational strength of the sponsors' health ministries, which are located within 11 eastern states from Maine to Florida. In addition to acute care hospitals, the system includes four long-term acute care hospitals, 36 freestanding and hospital-based long-term care facilities, 12 assisted living facilities, five continuing care retirement communities, eight behavioral health and rehabilitation facilities, 25 home health/hospice agencies, and numerous ambulatory and community-based health services. Catholic Health East facilities employ approximately 50,000 full-time employees as partners in ministry. Visit www.che.org