Sentry deal doubles Craneware revenue
Software company Craneware said it expects to report a robust annual performance following the acquisition of Sentry Data Systems in July 2021.
Group headline revenues for the year to the end of June more than doubled – up 119% – to about $165.5m with an adjusted EBITDA increase of 85% to over $50m.
In a trading update, the Edinburgh-based company, whose entire business is in the US healthcare sector, said the results include an approximate 11-month contribution from Sentry and are in line with management’s expectations.
Chief executive Keith Neilson said: “It is now just over a year since we acquired Sentry and we are delighted with how the teams have come together behind our shared vision to transform the business of US healthcare.
“With $170 million in ARR this year, approximately 40% of all US hospitals as customers and a considerably increased scale and offering, we look to the future with confidence.”