Craneware, a specialist in medical billing
software solutions, achieved a successful
flotation on the Alternative Investment
Market (AIM) and raised £4 million
of new money in a share placing that was
heavily over-subscribed.
Craneware’s flotation achieved a
successful exit for SEP and the company’s
other venture capital investors. The company’s
billing systems software is used by more
than 800 hospitals in some 46 states across
the United States.
Sales of the system, which automates and
verifies medical bills, have accelerated,
partly driven by regulatory changes as
US authorities tighten up on inaccurate
billing procedures which can result in
millions of dollars in lost revenue. It
is also a valuable tool to assist healthcare
providers in managing risk and meeting
compliance requirements.
