Cloudbuy PLC AGM Statement (0931L)
April 17 2018 - 2:00AM
UK Regulatory
TIDMCBUY
RNS Number : 0931L
Cloudbuy PLC
17 April 2018
cloudBuy plc
("cloudBuy" or the "Company")
AGM Statement 17 April 2018
cloudBuy plc (AIM: CBUY), the global provider of cloud-based
e-commerce marketplaces and B2B buyer and supplier solutions, is
holding its Annual General Meeting at 11.00am today, at which
management will make the following statement:
We updated the market very recently as part of our annual
report, nevertheless we wish to provide a brief update on progress
since publication.
Our focus remains firmly on PHBChoices as a key initiative for
growth. Personal Health Budgets (PHB's) represent a very major
change in the way that the NHS manages patient care, the uptake of
PHBChoices by CCGs is now gaining pace as PHBs become mainstream
and government targets begin to bite. We are particularly heartened
by the announcement on the 16(th) April 2018 by ministers that they
want to see exponential growth from the current 23,000 budgets to
350,000. The initial focus has been on individuals with complex
needs being met under Continuing Health Care (CHC), this is now
broadening out to cover a wide range of different areas including
Learning Disabilities (LD), which is often the most complex and
expensive area of care, with budgets typically twice that of CHC.
We have had a small but increasing number of LD patients going live
on PHBChoices.
We remain convinced that we have a unique product and a great
partner in NHS Shared Business Services to maximise the roll out of
PHB's and Integrated Commissioning across Health and Social Care.
Our initial customers have streamlined their PHB management and
been able to make significant savings as a result of deploying
PHBChoices. This ability to reference is key to success in the NHS
with CCGs looking for demonstrable benefits before committing to
new projects. The reputation of PHBChoices is growing and new CCGs
are contacting the team to discuss their requirements.
We continue to support our other revenue generating projects,
notably with UOB going well and our solution for York Schools in
Canada beginning to gain traction across other school boards.
Our cost reduction program and focus on fewer projects is paying
off and although supporting major change initiatives such as
PHBChoices is challenging, we are encouraged by take up and the
feedback that we receive around the functionality of the
solution.
For further information, please contact:
cloudBuy plc
David Gibbon, CFO Tel: 0118 963 7000
Arden Partners plc - Tel: 020 7614 5900
NOMAD and broker
Paul Shackleton/ Daniel Gee- Summons
About cloudBuy plc
cloudBuy, (AIM: CBUY), provides cloud solutions for buyers and
sellers - and brings them together to trade securely and ethically
via an increasing number of public eMarketplaces and private
purchasing portals around the world, powered by cloudBuy
technology. cloudBuy solutions for buyers help B2B purchasers
understand and control their spend, to reduce costs and increase
value. Our cloudSell solutions enable sellers of all sizes, from
startups to corporates, reach new customers and grow their
business.
cloudBuy's technology platform powers web sites, public
marketplaces and private purchasing portals that enable all types
of online interactions and relationships including, citizen and
business to government; consumer to business; and business to
business.
For more information, visit: www.cloudbuy.com .
This information is provided by RNS
The company news service from the London Stock Exchange
END
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