http://www.craneware.com/

Craneware, Inc. is a leading supplier of business intelligence and revenue cycle software that provides clients with chargemaster management software and products designed to optimize legitimate reimbursements and assist in managing the revenue cycle through better information, workflow, pricing strategy, capture of lost revenue and best practice modeling. Our innovative and scalable products are designed to ensure that you have the information you need to succeed in healthcare financial management.

A talented mix of employees from the healthcare industry, software engineering, business consulting, customer support and training provide the perfect blend for providing extremely powerful solutions to problems faced by hospital's financial teams.

Our consultant's years of experience in the healthcare industry are the vital source of financial, clinical and coding expertise that together with talented software developers combine to make our products so effective.

Our dedicated support team work hard at ensuring our customers always come first and pride themselves on exemplary service throughout the relationship from first install to advanced user training. Installation times are in weeks instead of months, Support responses are in minutes instead of days.

Headquartered in Scotland with offices across the US, Craneware delivers unparalleled solutions to the problems facing healthcare financial managers every day.

Final Results

RNS


RNS Number : 5739N

Craneware plc

10 September 2013




Craneware plc

("Craneware", "the Group" or the "Company")

Final Results



10 September 2013 - Craneware plc (AIM: CRW.L), the market leader in automated revenue integrity solutions for the US healthcare market, announces its results for the year ended 30 June 2013.



Financial Highlights (US dollars)



· Revenue increased 1% to $41.5m (2012: $41.1m)

· Adjusted EBITDA1 increased 4% to $12.4m (2012: $11.9m)

· Adjusted profit before taxation increased 4% to $11.2m (2012: $10.8m)

· Profit before tax decreased 5% to $10.6m (2012: $11.2m)

· Basic adjusted EPS increased 4% to 32.9 cents (2012: 31.6 cents), basic EPS decreased 7% to 30.7 cents (2012: 33.0 cents)

· Cash at year end $30.3m (2012: $28.8m) after returning $4.7m to shareholders by way of dividends

· Proposed final dividend of 6.3p (9.6 cents) per share giving total dividend for the year of 11.5p (17.4 cents) (2012: 10.5p /15.9 cents per share)

1. Adjusted EBITDA refers to earnings before interest, tax, depreciation, amortisation, share based payments, released deferred consideration and transaction related costs



Operational Highlights



· Underlying growth in sales to individual hospitals and small hospital groups

· Exited the year with significantly higher sales run rate than at the start

· Renewal rates over 100% of dollar value

· Products achieved top rankings within their divisions of the KLAS industry awards

· Hospitals continue to face growing financial and administrative pressure including increased audit activity and significant backlogs in the appeal process

· Key appointments increase bandwidth of senior management team

Keith Neilson, CEO of Craneware commented: "Overall Group revenue reported in the year was marginally ahead of that of last year, masking the steady growth through the year in sales to individual hospitals, which was very encouraging and a reflection of the more stable trading environment. The strengthening of sales activity has continued and trading in the first few months of the new financial year has been healthy. With a product suite that addresses many of the fundamental financial issues besetting healthcare providers in the US, an invigorated sales team and a more stable trading environment, we are confident Craneware has the platform to deliver increased shareholder value in the years ahead."

Northland Capital Partners view -

Tuesday also sees interims from Craneware (LON:CRW). The most recent IMS suggested revenue and EBITDA growth of 5%. Craneware adopts a conservative subscription revenue recognition policy and enjoys very high renewal rates but a sale to a large hospital group or other routes to market, has been absent recently. Steps have been taken to address this and we expect a status update.

Half Yearly Report


Financial Highlights (US dollars)



· Revenue increased 5% to $21.1m (H1 2013: $20.1m)

· Adjusted EBITDA1 increased 6% to $5.7m (H1 2013: $5.4m)

· Profit before tax increased 7% to $4.8m (H1 2013: $4.5m)

· Adjusted basic EPS increased 8% to 14.3 cents per share (H1 2013: 13.2 cents per share)

· Cash at period end $30.6m (H1 2013: $28.6m and $30.3m at 30 June 2013)

· Proposed interim dividend of 5.7p per share (H1 2013: 5.2p per share)



1. Adjusted EBITDA refers to earnings before interest, tax, depreciation, amortisation, share based payments, released deferred consideration and transaction related costs



Operational Highlights



· Good sales performance driven by incremental increases in the number of deals, in the size of hospital groups, the overall deal size and the number of longer-term contracts

· 2013 Best in KLAS Awards: Chargemaster Toolkit and Bill Analyzer

· Good growth in InSight Audit supporting the 'Gateway Products' strategy

· Supportive market environment - The Affordable Care Act, new billing models, healthcare consumerisation, RAC and third party payor audits, market consolidation and affiliations

· Strong revenue visibility over the remainder of the year and beyond



http://www.moneyam.com/action/news/showArticle?id=4770172

Obamacare boosts Craneware

By Jamie Nimmo

March 11 2014, 4:30pm
Craneware's software systems allow hospitals to write bills and claims to ensure they receive the cash they are entitled to



Craneware (LON:CRW) enjoyed a rise in half-year profits as the hospital software billing specialist benefited from the complexity of the Affordable Care Act, otherwise known as ‘Obamacare’ in the US.

Revenues in the six months ended December rose 5% to $21.1mln, while pre-tax profits picked up 7% to $4.8mln.

The company's software systems allow hospitals to write bills and claims to ensure they receive the cash they are entitled to.

Its client base consists of around a quarter of all hospitals in the states.

“The key to us is all the underlying pieces in that the complexity of the whole system in the US isn’t going to get easier,” explains chief executive Keith Neilson.

“You’ve got this mix of procedures, technology, potentially new expensive drugs coming through, gene therapies. And the people who are paying for that, whether that be the patient or the government, want to get insight into exactly what they are doing.

“That’s where we come in. We can give that insight and make sure our customers, the hospitals, claim for the reimbursement for providing these services and treatments correctly following the rules and regulations.”

Speaking to Proactive Investors, Neilson says the aim is to get back into double digit growth “as quickly as possible”.

“We expect to be able to achieve that over the next couple of years.”

Geographic expansion meanwhile remains an option, but growing the business further in the US comes first.

“We’ve just scratched the surface of the $31bn spend on software and IT in a very small part of our space,” Neilson says.

“We want to be able to rapidly accelerate our business so we’re getting a bigger share of that and be able to serve far more customers in a far deeper way with a far broader range of products than we currently do – and that’s where our growth will come from.

“If we bring in geographic expansion it will be because of a specific opportunity that’s there.”

The company ended the year with $30.6mln in cash and is open to acquisitions.

The shares were flat at 585p on Tuesday, valuing the company at £158mln.

Significant Contract Wins

RNS


RNS Number : 8274D

Craneware plc

02 April 2014




Craneware plc

("Craneware", "the Group" or the "Company")



Significant Contract Wins



2 April 2014 - Craneware (AIM: CRW.L), the market leader in automated revenue integrity solutions for the US healthcare market, is pleased to announce the signing of two new significant multi-year contracts with large multi-system hospital groups in the eastern US. The first contract is expected to deliver $3.8m revenue to the Group during the five year term while the second will deliver in excess of $3.1m over its seven year term. The Company's revenue recognition policy means that whilst initial implementation is scheduled in the current financial year, the full impact of the revenue will be seen from FY15 onwards.



The first hospital system comprises over 1200 staffed beds and incorporates multiple specialty care facilities and programs. The contract is for the implementation of Chargemaster Toolkit®, Online Reference Toolkit®, Physician Revenue Toolkit®, Pharmacy ChargeLink®, Supplies ChargeLink®, and related professional services. Chargemaster Toolkit will be utilised by the organisation across its member hospitals to reduce billing errors, ensure the timely and accurate submission of claims and manage compliance risk. Pharmacy ChargeLink and Supplies ChargeLink will allow the organisation to establish a critical connection between pharmaceutical and supply purchases and billing - ultimately, improving charge capture, coding and financial performance.



The second hospital system, which has over 3000 staffed beds, has contracted for Craneware's gateway Pharmacy ChargeLink product and related services.



This follows the signing of a nine year multi-product contract with a medium sized hospital group in the first half of the year, which following the addition of further products during the quarter just finished, now has a cumulative contract value in excess of $3.5m.



Keith Neilson, CEO of Craneware plc commented, "We are delighted to have secured these three significant contracts in recent weeks, all of which contain strategic product sets over multiple years. These competitive wins demonstrate the relevance of the Craneware product suite to all sectors of the US healthcare provider market, building on the increase in sales we have witnessed in the first half of the financial year and underline our leading position within the revenue integrity marketplace."

2 Apr Investec 645.00 Buy
2 Apr N+1 Singer 590.00 Hold

Trading Update

RNS


RNS Number : 2877M

Craneware plc

15 July 2014






Craneware plc

("Craneware", "the Group" or the "Company")

Trading Update and Notice of Results





15 July 2014 - Craneware (AIM: CRW.L), the market leader in automated revenue integrity solutions for the US healthcare market, provides an update on trading for the year ended 30 June 2014.



The Board is pleased to confirm the increased sales activity reported earlier in the year has delivered a record sales performance for the Group with the total value of contracts signed in the year increasing to over $70m (FY13: $38.5m), an increase in excess of 80% on the prior year.



In accordance with the Group's revenue recognition policy, which is focussed on long term sustainable growth and mitigates against year on year fluctuations in the total value of contracts signed, the vast majority of the revenue from these sales has not been recognised in the year to 30 June 2014, and will instead benefit future years. Accordingly the Group expects to report revenues in a range of $42.2m to $43m (FY13: $41.5m) and deliver an adjusted EBITDA in a range of $12.8m to $13.2m (FY13: $12.4m).



The market for revenue integrity solutions continues to develop with larger and more complex hospital systems becoming an increasing part of both current year sales and the pipeline of sales opportunities. We continue to invest in our sales organisation to ensure we are optimally positioned to take advantage of this growing market opportunity. Management believes as the fiscal and regulatory pressures on US hospitals continue to grow, the strength and relevance of our unique suite of solutions will increase in this market environment, giving us confidence in continued future growth.



Keith Neilson, CEO of Craneware plc commented, "We are delighted to announce a record sales year for the Group, with a year on year increase of over 80% in the total value of contracts signed in the year, demonstrating the ongoing strength of our market position. The current sales success gives Craneware certainty over contracted revenue and associated profits upon which to build future growth."



The Company will announce its Full Year Results on 16th September 2014.

Final Results

RNS


RNS Number : 7393R

Craneware plc

16 September 2014






Craneware plc

("Craneware", "the Group" or the "Company")

Final Results



16 September 2014 - Craneware plc (AIM: CRW.L), the market leader in automated revenue integrity solutions for the US healthcare market, announces its results for the year ended 30 June 2014.



Financial Highlights (US dollars)



· Record total contract value signed in the year of $71.0m (FY13: $38.5m)

· Revenue increased to $42.6m (2013: $41.5m)

· Adjusted EBITDA1 increased to $13.1m (2013: $12.4m)

· Adjusted profit before taxation increased to $11.9m (2013: $11.2m)

· Profit before tax increased to $11.3m (2013: $10.6m)

· Basic adjusted EPS increased to 34.0 cents (2013: 32.9 cents), basic EPS increased to 31.9 cents (2013: 30.7 cents)

· Positive operational cash flow of $10.2m (2013: $9.9m)

· Cash at year end $32.6m (2013: $30.3m) after payment of $5.4m dividend to shareholders

· Proposed final dividend of 6.8p (11.63 cents) per share giving total dividend for the year of 12.5p (21.37 cents) (2013: 11.5p / 17.4 cents per share)

1. Adjusted EBITDA refers to earnings before interest, tax, depreciation, amortisation, share based payments.



Operational Highlights



· Leading indicators of customer confidence in the US healthcare market:

o Sales to all strata of hospitals

o Return of 7 and 9 year contracts

o Dollar renewal rates continue to be strong, within historic range

o Longer average renewal contract lengths

o Strong sales momentum and pipeline continues into FY15

· Supportive market environment for Craneware products due to continued regulatory and fiscal pressures on US healthcare providers

· Continued investment in product suite:

o Major enhancement releases to gateway products

o Furthering enterprise capabilities across product families

o Post year end launch of Reference Plus; and

o Acquisition of Kestros Limited

Keith Neilson, CEO of Craneware plc commented, "We have been pleased with the Group's performance in the year. We have seen signs of growing customer confidence and believe Craneware is increasingly well positioned to address a growing market opportunity in what is the largest software vertical in the world; the US healthcare market.



Craneware remains at the forefront of providing solutions to US healthcare providers to help them achieve revenue integrity through the management of their cost base whilst ensuring receipt of all legitimate reimbursement. We believe true revenue integrity is required if healthcare providers are to continue to support improved patient care and clinical outcomes.



Investments in the business mean we have the people and the expertise in place to take us through the next stage of growth, building on our record sales performance. We have had a strong start to the current year, carrying on the momentum from the previous year and are confident we have the platform to deliver ongoing increased stakeholder value."

16 Sep Investec 645.00 Buy
16 Sep N+1 Singer 590.00 Buy

Trading Update
RNS
RNS Number : 0741C
Craneware plc
14 January 2015



14 January 2015

Craneware plc



("Craneware", "the Group" or the "Company")



Trading Update



14 January 2015 - Craneware (AIM: CRW.L), the market leader in automated revenue integrity solutions for the US healthcare market, provides an update on trading for the six months ended 31 December 2014.



The Group is pleased to announce it has seen a further 10% increase in total value of contracts signed in the six month period ended 31 December 2014 compared to the same period last year. In accordance with the Company's revenue recognition policy the majority of revenue and margin resulting from these sales will be recognised over future periods, adding to the Group's long term visibility of revenue under contract.



The Group expects to report an increase of at least 10% in adjusted EBITDA for the six months ended 31 December 2014 compared with the same period last year and a modest increase in recognised revenue, in line with management's expectations. With increased revenue recognition in the second half of the year to 30 June 2015 arising from contracted sales made in prior periods, together with continuing positive sales momentum, the Board is confident in meeting market expectations for the full year.



Keith Neilson, CEO of Craneware plc commented, "The continuation of a strong sales performance, supporting ongoing growth, that increases in future periods, gives management confidence in its ability to deliver increasing stakeholder value through this year and in the future."

14 Jan Investec 645.00 Buy

19 Feb Panmure Gordon 587.00 Buy

Interim Results


Financial Highlights (US dollars)



· Total contract value signed in the period increased 13%

· Revenue increased 2% to $21.6m (H1 2014: $21.1m)

· Adjusted EBITDA1 increased 10% to $6.3m (H1 2014: $5.7m)

· Profit before tax increased 10% to $5.3m (H1 2014: $4.8m)

· Adjusted basic EPS increased 15% to 16.5 cents per share (H1 2014: 14.3cents per share)

· Cash at period end $36.4m (H1 2014: $30.6m)

· Proposed interim dividend of 6.3p per share (H1 2014: 5.7p per share)



1. Adjusted EBITDA refers to earnings before interest, tax, depreciation, amortisation and share based payments that include acquisition and share transaction related costs.



Operational Highlights



· Continued sales momentum in H1

· Strong performance in "2014 Best in KLAS Awards"

· First sale by Craneware Health, previously Kestros Health

· Continued product development and enhancement

Strategic Partnership with Aridhia Informatics
RNS
RNS Number : 9962G
Craneware plc
10 March 2015



10 March 2015

Craneware plc



("Craneware", "the Group" or the "Company")



Strategic Partnership with Aridhia Informatics



10 March 2015 - Craneware (AIM: CRW.L), the market leader in automated revenue integrity solutions for the US healthcare market, is pleased to announce that it has entered into a strategic partnership with Aridhia Informatics ("Aridhia"), the Edinburgh-based health informatics company.



This partnership will enable Craneware to offer Aridhia's core services which includes their collaborative analytics platform, data science service and app development capability to Craneware's extensive client base on an exclusive basis. With solutions that focus on patient outcomes, this partnership supports Craneware's US healthcare offering and extends Aridhia's healthcare client base outside the UK, Australia and Kuwait.



During the last 15 years, one quarter of all registered US hospitals have chosen Craneware's medical billing software solutions to assist them on their journey to improved financial performance and revenue integrity. This partnership with Aridhia will support these hospitals' growing requirement for informatics solutions at a time when a growing number of medical insurers are moving away from fee-for-service towards performance-based reimbursement.



Keith Neilson, CEO of Craneware plc commented, "We are pleased to bring the analytics agility platform to our client base, offering Aridhia's expertise in utilising clients' data to improve patient outcomes."



David Sibbald, CEO of Aridhia, said: "US healthcare providers have traditionally focused on financial outcomes and cutting costs but they are increasingly adopting a patient centric approach which will, in turn, have a positive effect on their bottom line. Craneware works with some of the biggest healthcare providers in the US so we're very pleased to be partnering with them and using our integrated healthcare informatics solutions to deliver better operational results for the Craneware customer, hospitals and therefore, better health outcomes for their patients."





For further information, please contact:



Craneware plc
Peel Hunt
Newgate

+44 (0)131 550 3100
+44 (0)20 7418 8900
+44 (0)20 7653 9850

Keith Neilson, CEO
Dan Webster
Tim Thompson

Craig Preston, CFO
Richard Kauffer
Ed Treadwell











About Craneware



Founded in 1999, Craneware has headquarters in Edinburgh, Scotland with offices in Atlanta, Arizona, Massachusetts and Tennessee employing over 200 staff. Craneware is the leader in automated revenue integrity solutions that improve financial performance for healthcare organisations. Craneware's market-driven, SaaS solutions help hospitals and other healthcare providers more effectively price, charge, code and retain earned revenue for patient care services and supplies. This optimises reimbursement, increases operational efficiency and minimises compliance risk. By partnering with Craneware, clients achieve the visibility required to identify, address and prevent revenue leakage. To learn more, visit craneware.com.











About Aridhia Informatics



Aridhia is a world-leading health informatics company developing technology and capability that supports the management of chronic diseases, personalised medicine and biomedical research through the use of biomedical informatics and analytics. Operating internationally on chronic disease management projects in Kuwait, Australia, England and Scotland, Aridhia works closely with governments, health organisations, research collaborations and academic institutions.



Aridhia was co-founded in 2007 by Dr David Sibbald a software entrepreneur, philanthropist and Vice-President of UK UNICEF, the United Nations children's fund; and Professor Andrew Morris who is Chief Scientist for Health in Scotland and recently took up the position as Professor of Medicine, Director of the Institute of Population Heath Sciences and Informatics and Vice-Principal of the University for Data Science at the University of Edinburgh.



Based in Edinburgh and Glasgow, Aridhia are made up of a multi-disciplinary team of 55, data scientists, clinicians, computer scientists, software developers and healthcare experts.





ENDS

10 Mar Investec 645.00 Buy
10 Mar N+1 Singer 590.00 Buy
10 Mar Panmure Gordon 609.00 Buy

IC- Craneware rises on US thermal.

Spiralling US health care costs and new regulations are forcing hospitals to retrench and improve value for money. Growing numbers are using Cranware's billing and payments software to accurately price and charge for treatments and supplies, helping them maximise revenue and minimise costs and billing errors. Prospects are fairly well priced in.

25 Mar SP Angel 620.00 Buy


26 Mar 2015 Craneware PLC (6.3 P) ex dividend

Craneware PLC (CRW.GB:ISD) set a new 52-week high during today's trading session when it reached 665.00. Over this period, the share price is up 22.02%.

Trading Update and Notice of Results
RNS
RNS Number : 1810T
Craneware plc
16 July 2015



Craneware plc

("Craneware", "the Group" or the "Company")

Trading Update and Notice of Results





16 July 2015 - Craneware (AIM: CRW.L), the market leader in automated revenue integrity solutions for the US healthcare market, provides an update on trading for the year ended 30 June 2015.



The Board is pleased to confirm total value of contracts signed for the year of $72.5m, building on the previous year's record sales performance.



As the Group's revenue recognition policy retains focus on long term sustainable growth and mitigates against year on year fluctuations in the total value of contracts signed, the vast majority of the revenue from these sales has not been recognised in the year to 30 June 2015, and will instead benefit future years. Accordingly the Group expects to report revenues in a range of $44.5m to $45m (FY14: $42.6m) and deliver an adjusted EBITDA in a range of $14.0m to $14.5m (FY14: $13.1m).



Other key performance indicators for the Group continue to trend well including renewals in the year above 100% (by $ value) with strong cash generation resulting in cash reserves in excess of $40m at 30 June 2015 (2014 $32.6m).



Keith Neilson, CEO of Craneware plc commented, "We are delighted with the continued level of strong sales throughout the period that underpin the Group's financial and operational performance. We believe this continues to demonstrate our solutions' importance in supporting US hospitals as they transition towards value based healthcare. Having now defined the "Value Cycle" for US Healthcare providers, Craneware's leading position in providing solutions to discover, convert and optimise value for them along with the Group's ongoing financial performance, gives management confidence in its ability to deliver continued and increasing stakeholder value."



The Company will announce its Full Year Results on 8th September 2015.

16 Jul Investec 750.00 Buy
16 Jul Panmure Gordon 654.00 Hold
16 Jul Numis 590.00 Reduce