Vernalis to raise £68.5m 10/02/2012
Drug discoverer Vernalis (VER) is to raise £68.5 million as part of a joint venture with US concern Tris Pharma.
Contract wins for Craneware
Contract value at Craneware, led by CEO Keith Neilson, grew 25 per cent last year
US healthcare financial software specialist Craneware says contract value signed last year rose 25 per cent to more than $54 million (£36 million).
The West Lothian-based company, which helps American healthcare organisations improve their financial performance and mitigate risk, says continuing healthcare reforms in the USA have increased demand for its software.
Steered by chief executive officer Keith Neilson, AIM-quoted Craneware made $5.9 million (£3.9 million) in the year to June 2009 and increased pre-tax profits 27 per cent to $3.3 million in the six months to last December on turnover up 24 per cent to $13.2 million. Highlighted by Growth Company Investor at 152p two years ago and again at 379p in February, the shares have now reached £4, valuing the company at £101 million.
Partial profit-taking might be prudent. But it is worth holding on to a chunk for further potential gains.
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