- Craneware will use Microsoft’s Azure platform
- Shares up 38% year-to-date
- Strengthens existing relationship with Microsoft
Shares in Craneware (CRW:AIM) were up over 2% to £23.65 in morning trading as the Edinburgh-based healthcare software company announced a tie-up with tech giant Microsoft (MSFT:NASDAQ).
Craneware provides software solutions that help hospitals and other healthcare providers discover and optimise assets to improve clinical outcomes and financial performance.
WHAT WILL THE TIE-UP ACHIEVE?
The tie-up will see Craneware use Microsoft’s Azure platform, AI (artificial intelligence) led initiatives, advanced analytics and cloud capabilities to improve their existing offering to customers in the US healthcare market.
As part of the agreement, Craneware’s Trisus platform and select Trisus offerings will be available on Microsoft Azure’s marketplace.
The first Trisus applications to be made available on the marketplace will be the Trisus chargemaster - an automated charge description master management solution, Trisus decision support - a business intelligence system that merges financial clinical and operational data and Trisus labour productivity - a staff management tool.
Craneware has also signed a MACC (Microsoft Azure Consumption Commitment) which will make its cloud spend more predictable and provide financial planning benefits, which should create cost efficiencies.
EXPERT VIEW
Analysts at Berenberg are positive about Craneware’s tie-up but says it is ‘clearly too early to quantify any impact on Craneware's financial profile,’ however ‘the partnership is undoubtedly a positive development.’
‘Alongside improving end-market dynamics and the opportunity from third-party partner applications, today's announcement of the near-term and potential future benefits to Craneware's product offering and distribution capabilities support our conviction that Craneware is well-placed to capitalise on the shift in US healthcare delivery to value-based care,’ they said in a research note.
