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Trading Update – 21 January 2013

21 January 2013 – 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 month period ended 31 December 2012.

Trading has been positive in the first half of the financial year and the Company expects to report revenue growth to $20.1m (H112: $18.8m) with further growth at the adjusted EBITDA level of approximately 15% in comparison to the same period in the prior year (H112: $4.65m). This performance is in line with management’s expectations, delivering similar first half to second half expectation splits as those seen in the previous financial year.

Keith Neilson, CEO of Craneware, commented, “The increased levels of sales activity discussed at the time of our final results in September 2012 have begun to contribute to revenue growth. Fiscal and regulatory pressures on US hospitals, including the recently announced expansion of the Medicare Recovery Audit Contractor Program, continues to drive interest in our suite of software solutions and we are confident in the ongoing strength of our position within this growing area of the US healthcare market.”

Craneware will be announcing its Interim Results on 26 February 2013.

For further information, please contact:

Craneware plc

  • +44 (0) 131 550 3100
  • Keith Neilson, CEO
  • Craig Preston, CFO

Peel Hunt

  • +44 (0) 20 7418 8900
  • Dan Webster
  • Richard Kauffer

Newgate Threadneedle

  • +44 (0) 20 7653 9850
  • Caroline Evans-Jones
  • Fiona Conroy
  • Heather Armstrong
 

About Craneware

Founded in 1999, Craneware has headquarters in Edinburgh, Scotland with offices in Atlanta, Arizona, Massachusetts and Tennessee employing over 220 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.