StockMarketWire.com - Craneware has won a new contract with a large hospital operator in the US.

The company said this significant win with an existing customer added further 'value cycle' solutions and related services to a seven year contract originally announced in April 2014.

It said the contract was expected to deliver a further $3.7m of revenue over this new seven year term as the hospital network rolled out these additional solutions across its facilities and $1.5m of additional revenue as the contract for the currently implemented solutions was extended to run co-terminus to this amendment. It said the majority of the revenue resulting from this contract would be recognised over future periods, adding to the group's long term visibility of revenue under contract.

Chief executive Keith Neilson said: "The strategic importance of Craneware's Value Cycle solutions allow us to add new customers and deepen our relationship with our existing customers as both groups address the challenges resulting from the continued evolution to the new value based re-imbursement environment.

"The extension of the solution set provided to this customer and increasing the duration of the original contract underlines the value our solutions bring to our customers.

"We have a very positive relationship with our customers, demonstrating sustainable value; we now look forward to this extension of our working relationship with this customer to over a decade."




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