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Maximus, Inc. (MMS) has been a leader in providing business process and technology solutions since 1975, with a mission of 'helping government serve the people.' Employing over 16,000 professionals, Maximus operates across North America, Australia, the United Kingdom, and Saudi Arabia, delivering high-quality services to government agencies.
The company is renowned for its expertise in managing government health and human services programs. It plays a pivotal role in enhancing the efficiency, cost-effectiveness, and quality of government-sponsored benefit programs, including Medicaid, Medicare, Health Insurance BC, and child support programs. A substantial portion of Maximus' revenue is derived from long-term contractual agreements with global governments, with the U.S. Federal Services segment being the largest contributor.
In recent achievements, Maximus has demonstrated its commitment to social responsibility through various community service projects. For instance, during GivingTuesday, Maximus employees volunteered their time and resources to support the Catherine McAuley Center, helping women and children transition from homelessness to independent living. This initiative is part of a broader effort led by the Maximus Foundation, an independent nonprofit organization established by the Maximus Board of Directors in 2000.
The Maximus Foundation focuses on grantmaking and corporate-wide humanitarian efforts, empowering employees to make a difference in their communities. Employee donors pool their charitable contributions through the Foundation, which doubles their impact via Maximus' dollar-for-dollar matching pledge. This commitment to social good is evident in the support provided to initiatives like the Atlanta Mission, which addresses homelessness by offering comprehensive services to individuals and families in need.
With a forward-looking approach, Maximus continues to innovate and expand its impact. The Foundation's 2023 Annual Report highlights a year of significant achievements and looks ahead to new grantmaking strategies for 2025, aiming for a more equitable and inclusive future. Through its dedicated efforts, Maximus not only serves government clients but also plays a crucial role in improving the overall wellbeing of communities worldwide.
Stay updated with the latest developments, projects, and news from Maximus by visiting their official website and following their social media channels.
Maximus (NYSE: MMS) has partnered with CNSI to provide operation services for Medicaid Management Information System (MMIS) claims processing and management services. This collaboration, part of the National Association of State Procurement Officials (NASPO) cooperative contracts, aims to enhance operational effectiveness for state health programs. Maximus will assist with claims adjudication using CNSI’s evoBrix X™ platform and deliver call center services to Medicaid members and providers. The partnership highlights both organizations' commitment to improving service delivery within government programs.
Maximus (NYSE: MMS) reported a 17.3% revenue increase to $959.3 million for Q2 FY2021, driven largely by COVID-19 response initiatives. Operating income was $113 million with an 11.8% margin. The company raised its fiscal 2021 guidance, projecting revenues between $4.0 billion and $4.2 billion and EPS of $4.20 to $4.40, including contributions from recent acquisitions. The U.S. Services Segment experienced a 45% revenue boost, while the U.S. Federal Services Segment's revenue declined due to the Census contract. A quarterly dividend of $0.28 per share is scheduled for May 28, 2021.
Maximus (NYSE: MMS) will release its financial results for the three and six months ended March 31, 2021, on May 6, 2021, at 6:30 a.m. ET. A conference call will follow at 9:00 a.m. ET, which is accessible via webcast or phone. The company, established in 1975, specializes in government services, ensuring that citizens effectively engage with various health and human services programs. Maximus operates globally with a workforce exceeding 34,000 employees, partnering with agencies in multiple countries.
Maximus (NYSE: MMS) has announced that its UK subsidiary secured two significant contracts to deliver the Restart program across various regions in the UK, valued at over $960 million USD (£690 million GBP) for four years. This program aims to provide tailored support for long-term unemployed individuals as part of the UK Government's Plan for Jobs. Maximus will invest over £10 million (USD 13 million) into community organizations to enhance services. The company plans to recruit over 1,500 people to support this initiative, solidifying its position as a key employment support provider.
Maximus (NYSE: MMS) announced its agreement to acquire Veterans Evaluation Services, Inc. (VES) for $1.4 billion. VES is a key provider of Medical Disability Examinations for the U.S. Federal Government, especially the Department of Veterans Affairs. This acquisition aligns with Maximus' strategy to increase revenue from clinical business process outsourcing. Expected to close in the third fiscal quarter, it will enhance Maximus' federal market expansion and is projected to generate $160 million to $175 million in revenue for fiscal 2021's last four months.
Maximus (NYSE: MMS) has announced a quarterly cash dividend of $0.28 per share, which will be payable on May 28, 2021, to shareholders on record as of May 14, 2021. The company, founded in 1975, is dedicated to helping government agencies serve citizens by delivering innovative business process management and technology solutions worldwide. Maximus operates in several countries including the US, Australia, Canada, and the UK, with over 34,000 employees committed to enhancing government service efficacy.
Maximus (NYSE: MMS) has appointed Teresa Weipert as the new U.S. Federal Services Segment General Manager, succeeding Thomas Romeo, who is retiring after nearly ten years. Weipert's leadership experience includes roles at IBM and Accenture, focusing on growth in federal and public markets. Under Romeo’s tenure, the segment grew from $80 million to over $1.6 billion in FY 2020, including the acquisition of Attain Federal. The transition aims to align with long-term strategic goals for market expansion and technology enhancement, focusing on digital solutions for federal clients.
On March 1, 2021, Attain, LLC announced a restructuring that separates its divisions into two companies. The federal business will remain under the name Attain, LLC and has been acquired by Maximus (NYSE: MMS). The education, nonprofit, healthcare, and local government division will operate as Attain Partners. This strategic move aims to enhance innovation and growth opportunities for both companies, with Attain Partners set to benefit from increased funding for strategic investments across its sectors.
Maximus (NYSE: MMS) has completed the acquisition of the Federal division of Attain, LLC for $430 million, enhancing its digital transformation strategy. Attain Federal brings advanced technology services like AI and machine learning to support U.S. Federal Government agencies. Expected to generate $120-$140 million in revenue in fiscal 2021, the acquisition aligns with Maximus' growth objectives in the federal market. While slightly dilutive in fiscal 2021 due to one-time expenses, it is projected to be accretive in fiscal 2022.
Maximus (NYSE: MMS) has announced its support for seven state vaccination programs by providing COVID-19 vaccine information and hotline services. The states involved include California, Colorado, New York, and the District of Columbia. The company aims to alleviate the high volume of vaccination requests and manage case backlogs. Maximus has deployed over 4,200 work-from-home agents since December 2020 to facilitate vaccine rollouts, utilizing cloud-based engagement capabilities to promote public confidence in vaccinations.
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