CRANEWARE, which develops software for the US healthcare sector, has said it expects annual revenue and underlying earnings to be up alongside a 40 per cent hike in new sales.
The Edinburgh-based firm said revenue and underlying earnings are expected to rise by 5% and 6% respectively for the year to June 30 2021.
It said “positive sales momentum” in the first half of the year continued into the second half, with the board expecting to report an increase in new sales to over $42 million, against $30.4m the year before.
Craneware also hailed the acquisition of Sentry, a pharmacy procurement and compliance business, which brings “immediate additional scale” to its operations.
The acquisition means the Scottish firm now serves nearly 40% of US hospitals and more than 10,000 clinics and retail pharmacies across all the major pharmacy brands as well as local community pharmacies and clinics.
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It said that it has also seen 900 current customers migrate to products on its cloud-based Trisus platform, while the pandemic has “highlighted the importance of usable financial and operational data”.
Keith Neilson, Craneware chief executive, said the acquisition marks "a transformational point in our journey, considerably expanding our customer base, data sets, product offering and market presence".
"Together, we will offer healthcare organisations innovative new ways to measurably impact operational and financial performance and generate sustainable margins that can be re-invested in providing better care for those who are in need," he said.
"Our expanded opportunity and positive sales momentum provide us with considerable excitement and confidence as we work with the Sentry team to transform the business of US healthcare." The London-listed business' shares close at 2,200p, up 0.92%, or 20p.
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