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Craneware in three major deals

HEALTHCARE revenue monitoring software provider Craneware has signed up two more large hospital groups in the US.

The Edinburgh company said the first deal, covering 1,200 beds, involved multiple products and would generate $3.8m over five years.

The second deal, for an organisation with 3,000 beds, is expected to bring in more than $3.1m across a seven- year term through the use of Craneware's Pharmacy ChargeLink product. In addition to those two new deals Craneware said it had been successful in selling in additional services to a nine-year contract it signed in the first half of its financial year. That agreement is now expected to be worth around $3.5m.

Keith Neilson, chief executive, said: "We are delighted to have secured these three significant contracts in recent weeks, all of which contain strategic product sets over multiple years.

"These competitive wins demonstrate the relevance of the Craneware product suite to all sectors of the US healthcare provider market, building on the increase in sales we have witnessed in the first half of the financial year."

Investec's Roger Philips upped his target price on the shares to 645p and said: "The three contract wins support management's assertion that purchasing sentiment for larger hospital groups is recovering fast."

Shares closed up 12.5p, or 2.4%, at 540p.

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