Craneware Regulatory News (CRW)

26 Jun 2008 08:32

Craneware plc

("Craneware" or the "Company")

Contract Win

Craneware signs contract with Catholic Healthcare West for 42 hospitals 

 26 June 2008 - Craneware plc, (AIM:CRW) a leader in revenue cycle management software solutions for the US healthcare market, has signed a contract with San Francisco-based Catholic Healthcare West for the delivery of Craneware's Chargemaster Toolkit® Suite of software and the newly launched Pharmacy ChargeLink™ product. Craneware's software and services will be rolled out across the hospital system through Fiscal 09. As per Craneware's revenue recognition policy, the majority of the revenues derived from this contract will be recognised in Craneware's fiscal years FY09, FY10, FY11, FY12 and 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 Healthcare West as their provider of revenue cycle management software, replacing another vendor. This is the second large system sale we have secured this month, giving us great momentum as we move into our new financial year in July."

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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 Healthcare WestCatholic Healthcare West (CHW), headquartered in San Francisco, Calif., is a system of 42 hospitals and medical centers in California, Arizona and Nevada. Founded in 1986, CHW is the eighth largest hospital system in the nation and the largest not-for-profit hospital provider in California. For more information visit www.chwhealth.org.