DLH to Pioneer Medical and Healthcare Technology Innovations for Veterans
DLH Holdings Corp. (NASDAQ: DLHC) has secured an Indefinite Delivery/Indefinite Quantity (ID/IQ) contract with the Department of Veteran Affairs (VA) aimed at enhancing healthcare innovations. This contract, part of the Accelerating VA Innovation and Learning (AVAIL) initiative, features a five-year base period with a ceiling of $650 million across 17 competitors. DLH will utilize its expertise in digital health tools and advanced technologies to support Veterans with improved care solutions.
- Awarded a $650 million contract with the Department of Veteran Affairs.
- Contract spans five years, providing long-term revenue potential.
- Opportunity to leverage advanced technologies to improve healthcare for Veterans.
- Competition with 17 other prime awardees could limit task order allocations.
- Contract risks include potential delays or changes in VA budget priorities.
ATLANTA, Oct. 06, 2022 (GLOBE NEWSWIRE) -- DLH Holdings Corp. (NASDAQ: DLHC) (“DLH” or the “Company”), a leading provider of innovative health research services and solutions to federal agencies, today announced it has been awarded an Indefinite Delivery/Indefinite Quantity (ID/IQ) multiple award contract to augment the Department of Veteran Affairs’ (“VA”) efforts to design, develop, and test innovations in healthcare.
As part of the Accelerating VA Innovation and Learning (“AVAIL”) contract, DLH will compete with 17 prime awardees for individual task orders across five task categories: personalized healthcare, data transformation, digital care, immersive technology (extended reality solutions), and care and service delivery. The multiple-award contract consists of a five-year base period and has a
“Ensuring Veterans have access to the highest quality care is central to the DLH mission, and this contract enables our company to connect the VA with the emerging tools, advanced processes, digital solutions, and data transformation required to support their long-standing tradition as a pioneer in medical innovation,” said Jackie Everett, DLH Chief Growth Officer. “DLH will leverage our expertise in applied research, genomics, synthetic data modeling, augmented and virtual reality, digital health tools, and synthetic data modeling to support the design, development and testing of the next generation of medical devices needed by the VA as it accelerates its pace of modernization.”
“We are honored for this opportunity to expand upon our long-standing relationship with the Department of Veterans Affairs, one of this country’s preeminent engines of medical innovation,” added Zach Parker, DLH President and CEO. “Under this contract, DLH may apply our digital transformation capabilities - spanning artificial intelligence and machine learning, big data analytics, telehealth, modeling and simulation, and more - towards improving the advanced solutions available to Veterans, clinicians, and caregivers.”
About DLH
DLH (NASDAQ:DLHC) delivers improved health and readiness solutions for federal programs through research, systems development, and innovative care processes. The Company’s experts in public health, performance evaluation, and health operations solve the complex problems faced by civilian and military customers alike, leveraging digital transformation, artificial intelligence, advanced analytics, cloud-based applications, telehealth systems, and more. With over 2,400 employees dedicated to the idea that “Your Mission is Our Passion,” DLH brings a unique combination of government sector experience, proven methodology, and unwavering commitment to public health to improve the lives of millions. For more information, visit www.DLHcorp.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or DLH`s future financial performance. Any statements that refer to expectations, projections or other characterizations of future events or circumstances or that are not statements of historical fact (including without limitation statements to the effect that the Company or its management “believes”, “expects”, “anticipates”, “plans”, “intends” and similar expressions) should be considered forward looking statements that involve risks and uncertainties which could cause actual events or DLH’s actual results to differ materially from those indicated by the forward-looking statements. Forward-looking statements in this release include, among others, statements regarding estimates of future revenues, operating income, earnings and cash flow. These statements reflect our belief and assumptions as to future events that may not prove to be accurate. Our actual results may differ materially from such forward-looking statements made in this release due to a variety of factors, including: the outbreak of the novel coronavirus (“COVID-19”), including the measures to reduce its spread, and its impact on the economy and demand for our services, are uncertain, cannot be predicted, and may precipitate or exacerbate other risks and uncertainties; the risk that we will not realize the anticipated benefits of acquisitions; the challenges of managing larger and more widespread operations; contract awards in connection with re-competes for present business and/or competition for new business; compliance with new bank financial and other covenants; changes in client budgetary priorities; government contract procurement (such as bid and award protests, small business set asides, loss of work due to organizational conflicts of interest, etc.) and termination risks; the ability to successfully integrate the operations of acquisitions; the impact of inflation and higher interest rates; and other risks described in our SEC filings. For a discussion of such risks and uncertainties which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in the Company’s periodic reports filed with the SEC, including our Annual Report on Form 10-K for the fiscal year ended September 30, 2021, as well as subsequent reports filed thereafter. The forward-looking statements contained herein are not historical facts, but rather are based on current expectations, estimates, assumptions and projections about our industry and business.
Such forward-looking statements are made as of the date hereof and may become outdated over time. The Company does not assume any responsibility for updating forward-looking statements, except as may be required by law.
INVESTOR RELATIONS
Contact: Chris Witty
Phone: 646-438-9385
Email: cwitty@darrowir.com
FAQ
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