'Significant' deal for Edinburgh company
Craneware signs contract with US payment firm
The Edinburgh-based company said its has signed an exclusive value added reseller agreement with US-based automated payment technologies and services company, VestaCare.
It will combine VestaCare’s proprietary technology with its own to offer accelerated payment and patient engagement solutions.
The contract is expected to deliver $7.5m revenue over the initial five year term. The new customer is a growing hospital operator and consolidator that manages in excess of 50 hospitals across multiple US states primarily in non-urban communities.
Craneware said the full impact of the revenue generated from this contract will be seen from 2017.
Keith Neilson, chief executive of Craneware, said: “Both of these agreements not only provide Craneware with significant future revenue opportunities but also further enhance the company’s strategic value to customers.
“We are delighted to sign a significant new customer, which is testament to our position as a trusted partner for US healthcare organisations. The new reseller agreement deepens our reach within the early stages of patient engagement and demonstrates our leadership in the evolving market of value-based care and patient responsibility.”