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Clinical finish for Craneware as US hospitals clamour for cost-saving software

The healthcare software group cashed in on strong demand in the US healthcare market

Rising costs, shrinking budgets and mounting pressure to operate more efficiently spurred US clinics and hospitals to buy from Craneware (CRW) in the year to 30 June. Strong demand for the healthcare software group's digital tools, which can delve into clients' clinical data to identify cost-effective treatments, drove adjusted cash profit up a tenth to $15.9m (£11.9m) in the year to 30 June.

IC TIP: Hold at 1045p

Craneware received a record $82.3m in orders, as sales of new products leapt 63 per cent and renewals remained over 100 per cent by dollar value. Management was particularly pleased to sign a pair of five-year contracts worth a combined $15.5m with two large hospital groups. It also launched a health intelligence business to capitalise on burgeoning demand for healthcare cost analytics software. And it plans to roll out a Trisus payment product later this year that promises to improve the billing process for both patients and healthcare providers.

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