Crimson Tide (AIM:TIDE) shares were boosted with news of a new contract win from the NHS.
The company’s mpro5 service management software platform was, as previously announced, implemented with this particular NHS trust and now it has received an additional order to add ‘Internet of Things’ (IoT) sensors to the system.
This will facilitate more effective use of staff and facilities within the trust, Crimson Tide said in a statement.
“We are very pleased to add mpro5's sensor driven actions to our initial contract with this NHS Trust, which we believe will drive direct savings and improvements across its estate,” said Crimson Tide (AIM:TIDE) chair Barrie Whipp.
“Our goal is to work with the Trust to establish a repeatable series of processes and procedures that drive compliance and efficient use of staff and facilities."
It will be an additional contract that spans 36 months and will be worth around £300,000, the company added.
Crimson Tide (AIM:TIDE), meanwhile, noted the renewal of a number of long-term contracts which it said demonstrates that mpro5's “commitment to excellence of service is rewarded with long lasting and strategic relationships with clients”.
In London, Crimson Tide shares gained close to 11% to trade at 3.44p, valuing the firm at just under £23mln.