Press Release
30 October 2007
McGrigors advises Craneware plc on AIM market listing
UK law firm McGrigors has advised Livingston-based Craneware plc on its AIM market listing. Craneware, a leading provider of financial and management software packages for the US healthcare market, joined the AIM market on 13 September 2007.
Craneware, which was founded in 1999, has headquarters in Livingston, with offices in Florida, Arizona, and Kansas, employing 95 staff. The company’s main product, Chargemaster Toolkit™ (“CMT”), assists US healthcare providers in reducing billing errors, ensuring the timely and accurate submission of claims and managing compliance risk.
For McGrigors the deal is the latest in a string of successful capital markets transactions which the firm has completed and demonstrates its continued position as a market leader in advising companies in relation to AIM listings and fundraisings. The deal also coincides with the launch of a unified McGrigors UK capital markets practice, pulling together a dedicated UK wide team of experts and sector specialists from across the firm's offices.
Anna Brown, McGrigors corporate team partner, who advised Craneware plc commented: “This is the sixth successful IPO which we have advised on in the last six months and we are delighted that Craneware has made a successful debut on AIM. Craneware's listing further enhances our already strong AIM credentials and demonstrates our ability to deliver deals across a broad range of sectors.”
Keith Neilson, CEO of Craneware, commented, “Since 1999 we have identified, attacked and subsequently become a leader in a niche market in the US healthcare information system sector. Given our leadership position, the market drivers, and the under-penetrated nature of this sector, we feel there is an excellent opportunity at this time to further extend our coverage in the US market and generate further growth and profits.”
For further information please contact:
Louisa Hollins
Financial Dynamics
Telephone - +44 (0) 20 7269 7108
Email - Louisa.hollins@fd.com
Andy Peat
Financial Dynamics
Telephone - +44 (0) 20 7269 7185
Email - andy.peat@fd.com