Deal is of 'strategic importance'
Craneware secures $6m US contract extension
The $6m win sees the extension of a relationship that has been in place since 2007, will see Craneware’s software extended to facilities that have been recently acquired by this hospital network.
The contract is expected to deliver $3.5m of incremental revenue over this new five year term as the hospital network rolls out these solutions. Most of the revenue from this contract will be recognised over future periods.
Keith Neilson (pictured), CEO of Craneware, said the expansion of the relationship demonstrates the “strategic importance”of Craneware’s software.
“The strength of our solutions and the value they deliver to all customers, including large and complex health systems, allows us to deepen our relationship with our customers as they address the challenges resulting from the continued evolution to the new value based re-imbursement environment.
“Having enjoyed our positive working relationship for a decade, we now look forward to continuing to deliver sustainable value throughout this new term.”