REG - Craneware plc - AGM Statement and Board Changes

CranewareAnnouncement

13/11/2024 07:00

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RNS Number : 9798L  Craneware plc  13 November 2024

Craneware plc

("Craneware" or the "Company")

 

AGM Statement and Board Changes

 

13 November 2024 - Craneware (AIM: CRW.L), the market leader in Value Cycle
software solutions for the US healthcare market, provides an update on trading
ahead of its Annual General Meeting, which takes place at 10am today.

 

The Board is pleased to confirm that the positive momentum seen in FY24 has
continued into the current year, with the prior investments into the Trisus
platform supporting continued revenue and EBITDA growth. As a result, the
Group continues to trade in line with current market expectations for the year
ending 30 June 2025.

 

Following the election, US hospitals are now preparing for a period of
stability and investment in strategic growth. We anticipate this will be a
driver of demand for our solutions, as healthcare providers seek to optimise
their operational and financial performance and maximise this investment.
Alongside the Group's direct sales efforts, the recently signed alliance with
Microsoft is progressing well, with Trisus offerings now live on the Azure
Marketplace and the first sizeable customer contract secured via the
marketplace.

 

The strength of the Company's balance sheet, high levels of recurring revenue
and strong cash generation provide Craneware with solid foundations as it
executes on its growth strategy. The Board remains confident in achieving
growth acceleration over the near term, creating further long-term value for
all stakeholders.

 

Board Changes

 

As previously announced, following many years' service on the Board of
Directors, Colleen Blye, Senior Non-Executive Director, and Russ Rudish,
Non-Executive Director, are not standing for re-election at the Company's AGM
later today. The Board thanks them both for their significant contributions to
Craneware's success to date.

 

The Company is pleased to announce the appointment of Tamra Minnier as
Non-Executive Director, which will take effect following today's AGM. Tamra is
an experienced senior US healthcare executive, currently holding the role of
Senior Vice President, Health Services Division, and Chief Quality and
Operational Excellence Officer for UPMC, a $27 billion-dollar integrated
healthcare delivery and financing system in Pittsburgh, PA. Tamra's role
includes overseeing the Wolff Center, the driving force for Quality and
Safety, Nursing, Surgical Services, Pharmacy, Imaging and Laboratory
Operations for UPMC and responsibility for The Beckwith Institute, a $23
million-dollar foundation supporting innovation in care delivery.

 

Following the completion of the AGM, David Kemp, will assume the role of
Senior Independent Director, as well as continuing his role as Chair of the
Audit Committee; Alistair Erskine will assume the role of Chair of the
Remuneration Committee, and the appointment of Tamra Minnier will come into
effect.

 

Additional information

 

The following information is being disclosed pursuant to Rule 17 and paragraph
(g) of Schedule 2 of the AIM Rules for Companies in relation to the
appointment of Tamra Minnier to the Board.

 

Tamra E. Minnier, aged 62, has been a director or partner of the following
companies or partnerships during the five years preceding the date of this
announcement:

 

 Current:

 ·      The United Way of Southwestern Pennsylvania

 ·      Phipps Conservatory and Botanical Gardens, Inc.

 ·      Aging Institute

 ·      Infectious Disease Connect, Inc.

 ·      The United Way of Western Pennsylvania

 Historic:

 ·      Joint Commission Resources, Inc.

 ·      Patient Safety Movement Foundation

 

Save as set out above there are no further disclosures required pursuant to
Rule 17 or Schedule Two, paragraph (g) of the AIM Rules for Companies.

 

 

For further information, please contact:

 

 Craneware plc                                    +44 (0)131 550 3100
 Keith Neilson, CEO
 Craig Preston, CFO

 Alma Strategic Communications (Financial PR)     +44 (0)20 3405 0205
 Caroline Forde, Kinvara Verdon, Sarah Peters     craneware@almastrategic.com

 Peel Hunt (NOMAD and Joint Broker)               +44 (0)20 7418 8900
 Neil Patel, Benjamin Cryer, Kate Bannatyne

 Investec Bank PLC (Joint Broker)                 +44 (0)20 7597 5970
 Patrick Robb, Virginia Bull, Shalin Bhamra
 ( )                                              ( )
 Berenberg (Joint Broker)                         +44 (0)20 3207 7800
 Mark Whitmore, Richard Andrews, Dan Gee-Summons

 

About Craneware

 

The Craneware Group (AIM:CRW.L), is the market leader in value cycle
solutions. For 25 years, we have collaborated with U.S. healthcare providers
to optimize revenue integrity, pricing intelligence, decision support, labor
productivity, business of pharmacy, and 340B program management. 

 

Customers choose Trisus®, a HITRUST- and SOC2 Type II-certified, SaaS
platform, to achieve operational and financial excellence in pursuit of their
healthcare mission - delivering quality care to their communities. The
Craneware Group - Transforming the Business of Healthcare.

 

Learn more at www.thecranewaregroup.com

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