Craneware boss Keith Neilson enjoyed a 12 per cent bump in pay last year following the biggest acquisition in the company’s 23-year history.
Mr Neilson, who set up the business in 1999 with co-founder Gordon Craig, collected £345,723 during the year to June 30, up from £309,751 in the previous 12 months. According to the company’s annual report, this included a basic salary of £324,900 and more than £20,100 in pension contributions.
READ MORE: Software specialist Craneware predicts 'transformation' following Sentry deal
The Edinburgh-based company sells medical billing software to healthcare providers in the United States. Revenues last year rose by 40% to $75.6 million (£54.8m), but profits fell by nearly a third after absorbing exceptional costs from the £283m acquisition of Sentry Data Systems.
Mr Neilson has described Florida-based Sentry as a “transformative” deal for the company that immediately increased Craneware’s foothold in the US pharmaceutical sector. The integration of the businesses is said to be progressing ahead of schedule.
Almost half of all US hospitals use at least one Craneware or Sentry product. "Visible sales” for the next three years stands at $471m, up from $200m prior to the acquisition.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules here