Crimson Tide (TIDE,), a company specialising in telecoms and CRM solutions, has won a contract with an NHS trust in the South East of England for c.£250k over 36 months for its mpro5 Smart App Solution, with a scalable upside opportunity once it adds the anticipated Internet of Things (IoT) module later this year.
Mpro5 will help the Trust with the capture and consolidation of incident and response data across its facilities for space compliance purposes that in turn help improve operational effectiveness.
Crimson Tide said it anticipates adding its IoT module later this year, projecting the installation of over 1,000 sensors to enable sensor-driven actions, one of mpro5's key differentiators.
Barrie Whipp, Chairman, commented: "To be able to deploy mpro5's full functionality across an entire NHS Trust is a validation of our mobile web and reporting functionality and displays our ability to help flexibly improve compliance and efficiency. Micro reporting on space compliance and costs will lead to a greater understanding of how NHS Trusts can improve their operational effectiveness.”
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Another significant milestone for Crimson Tide, scoring a scalable contract to improve NHS operational effectiveness, with the IoT addition later this year set to improve efficiencies further.
Crimson has shown strong momentum in 2023, recently winning a contract in the US earlier this year worth £0.25m, solidifying the company's long-term goal of expansion into North America. The company exhibited similar progress in 2022, with a large contract renewal with a major UK retailer, alongside many other contract wins with new and existing clients. The stream of contracts in 2022 led to revenue for the year exceeding £5.3m, an increase of more than 30% over the prior year's figure of £4.1 million.
Investors welcomed the news this morning, pushing Crimson’s shares up 11% in early trade. The flagship NHS contract will no doubt deliver value to the healthcare system, which is continually striving to increase and improve operational efficiencies, with the mpro5 Smart App Solution well-placed to meet this need.
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