Craneware - when nothing less than perfection will do
This market leader in Value Cycle solutions for the US healthcare market has disappointed with its latest trading update, sending the shares down sharply. What’s happened to cause this sharp change in investor sentiment?
Craneware (LON:CRW) provides software to US hospitals to help them manage their patient billing and costs, thereby helping them improve their financial and operational performance.
The year saw the launch of three new products on Craneware’s newer cloud-based Trisus platform on which the Group has placed a great deal of emphasis. Trisus provides a suite of solutions for US healthcare providers to identify and take action on risks related to revenue, cost, and compliance. Of the 600 hospitals represented at the Craneware Healthcare Summit earlier in the year, 50 per cent of customers that attended were looking to transfer to the Trisus platform within twelve months
While Craneware has continued to sign new contracts with hospitals, unfortunately the timing and quantity of sales closed in the second half of the year have been lower than anticipated. Consequently, revenue growth for the 12-month period is now expected to be only 6 per cent compared to the 18 per cent previously expected.
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