Crimson Tide Regulatory News (TIDE)

17 September 2013

Crimson Tide PLC ("Crimson Tide" or "the Company")

 CONTRACT EXTENSION

HAEMOPHILIA SMARTPHONE APP RELEASED ON IOS AND ANDROID RESULTS IN 3 YEAR CONTRACT EXTENSION WITH NCHCD

Crimson Tide, a leading developer of enterprise class mobile business solutions on subscription, has extended its contract with the National Centre for Hereditary Coagulation Disorders ("NCHCD") for a further three years. The Company's mpro5 haemophilia smartphone application has been released on the iOS and Android platforms, which gives patients greater choice and is expected to result in an increased number of individuals using the mobile technology. The subsequent value of this extension to the Company in terms of contracted revenues is €59,000 without revenue from further users.

The NCHCD, part of St James' Hospital, Dublin, is world renowned for its treatment of haemophilia, and started using the technology in 2010. Since its implementation over 115 individuals use the mpro smartphone application to manage their condition and patient compliance has increased significantly with regards to medication recording.

Whilst improved patient safety and medication traceability were the main driving forces behind NCHCD's decision to embrace the mobile technology, the organisation has made significant savings as a result of the reduction in medication wastage and the ability to monitor, in real-time, the frequency and rate at which patients infuse with CFCs (Clotting Factor Concentrates). Savings of over €70,000 were made after the first three months of implementation due to greater visibility of patient usage trends.

As mpro5 is now available across the iOS and Android mobile operating platforms, more patients are expected to start using the technology since they have greater choice and flexibility over the type and model of smartphone or tablet they use. Additionally, the move onto mpro5 means that the Company no longer has to automatically provide a smartphone device for patients, thus increasing the addressable market for the application.

Barrie Whipp, Executive Chairman said, "The contract extension with the NCHCD is excellent news. The hospital is saving considerable amounts of money by using mpro and patients are assured that their medication is safe for them to use, that their condition is being monitored by clinicians in real-time and are subsequently receiving focused care and management. The extension onto the iOS and Android platforms aids our goal of adding more users onto the technology by allowing people with haemophilia to simply download the mpro5 system on the most popular smartphone platforms. The contract extension adds to our long term, contracted revenue base, which is our primary focus."

Feargal Mc Groarty, Project Manager, NCHCD said, "The NCHCD is delighted by the development of the downloadable App. It again shows the commitment of Crimson Tide to work with us to help NCHCD deliver world class care for our patients and we look forward to continuing our partnership with them."

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For further information: 

Crimson Tide plc

Barrie Whipp, Executive Chairman 01892 542 444 

WH Ireland

James Joyce / James Bavister 020 7220 1666