Parsons to Provide COVID-19 Testing Solutions to Department of Homeland Security

Rhea-AI Summary

Parsons Corporation (NYSE: PSN) has been awarded a multi-award COVID-19 testing contract by the Department of Homeland Security (DHS), with a shared ceiling value of $2 billion. This contract supports DHS employees through managed testing services and molecular diagnostic testing. The company plans to utilize its innovative DetectWise™ health monitoring solutions, which include touchless kiosks for temperature screening and COVID-19 test history management. The partnership aims to enhance safety and operational efficiency amidst the ongoing pandemic.

Positive

• Awarded a $2 billion contract from DHS for COVID-19 testing services.
• Utilizing DetectWise™ technology to enhance health monitoring solutions.

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• None.

CENTREVILLE, Va., Feb. 8, 2021 /PRNewswire/ -- The Department of Homeland Security (DHS) awarded Parsons Corporation (NYSE: PSN) a multi-award COVID-19 testing indefinite-delivery/indefinite-quantity (IDIQ) contract with a shared ceiling value of $2 billion. Testing will support DHS employees and includes two functional categories: managed testing services; and molecular diagnostic test kits and testing services.

Parsons will provide flexible, innovative testing solutions designed to keep DHS employees safe and reduce the risk of exposure to COVID-19. The offerings will be point-of-care or laboratory-based solutions that support current and future operational concepts for screening capabilities.

"As the world grapples with the COVID-19 virus, we must continue developing innovative technology that helps society return to a safe living and working environment," said Chuck Harrington, chief executive officer of Parsons. "We look forward to partnering with the Department of Homeland Security on proactive health solutions that protect their employees and reduce the risk of disease spread while maintaining operational efficiency."

In May 2020, Parsons independently invented DetectWise™, an integrated, touchless suite of health monitoring solutions. The system could be included in the company's offering for the DHS IDIQ, especially given the need to coordinate the collection of samples from identified subjects.

The touchless kiosks and biometric screeners allow for non-contact temperature screening of people seeking to access an area and are digitally linked with an individual's COVID-19 test history. DetectWise products are currently operating in the aviation, industrial, government facilities, healthcare, and senior living facility markets, in addition to Parsons' facilities.

To learn more about the company's health solutions, please visit: https://www.parsons.com/products/detectwise/

About Parsons:

Parsons (NYSE: PSN) is a leading disruptive technology provider in the global defense, intelligence, and critical infrastructure markets, with capabilities across cybersecurity, missile defense, space, connected infrastructure, and smart cities. Please visit Parsons.com and follow us on LinkedIn and Facebook to learn how we're making an impact.

Forward-Looking Statements

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on our current expectations, beliefs and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends and factors that are difficult to predict, many of which are outside of our control. Accordingly, actual performance, results and events may vary materially from those indicated in the forward-looking statements, and you should not rely on the forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in the forward-looking statements, including, among others: any issue that compromises our relationships with the U.S. federal government or its agencies or other state, local or foreign governments or agencies; any issues that damage our professional reputation; changes in governmental priorities that shift expenditures away from agencies or programs that we support; our dependence on long-term government contracts, which are subject to the government's budgetary approval process; the size of our addressable markets and the amount of government spending on private contractors; failure by us or our employees to obtain and maintain necessary security clearances or certifications; failure to comply with numerous laws and regulations; changes in government procurement, contract or other practices or the adoption by governments of new laws, rules, regulations and programs in a manner adverse to us; the termination or nonrenewal of our government contracts, particularly our contracts with the U.S. federal government; our ability to compete effectively in the competitive bidding process and delays, contract terminations or cancellations caused by competitors' protests of major contract awards received by us; our ability to generate revenue under certain of our contracts; any inability to attract, train or retain employees with the requisite skills, experience and security clearances; the loss of members of senior management or failure to develop new leaders; misconduct or other improper activities from our employees or subcontractors; our ability to realize the full value of our backlog and the timing of our receipt of revenue under contracts included in backlog; changes in the mix of our contracts and our ability to accurately estimate or otherwise recover expenses, time and resources for our contracts; changes in estimates used in recognizing revenue; internal system or service failures and security breaches; and inherent uncertainties and potential adverse developments in legal proceedings, including litigation, audits, reviews and investigations, which may result in materially adverse judgments, settlements or other unfavorable outcomes. These factors are not exhaustive and additional factors could adversely affect our business and financial performance. For a discussion of additional factors that could materially adversely affect our business and financial performance, see the factors included under the caption "Risk Factors" in our Registration Statement on Form S-1 and our other filings with the Securities and Exchange Commission. All forward-looking statements are based on currently available information and speak only as of the date on which they are made. We assume no obligation to update any forward-looking statement made in this presentation that becomes untrue because of subsequent events, new information or otherwise, except to the extent we are required to do so in connection with our ongoing requirements under federal securities laws.

Media Contact:
Bryce McDevitt
+1 703.851.4425
Bryce.McDevitt@parsons.com

Investor Relations Contact:
Dave Spille
+ 1 571.655.8264
Dave.Spille@parsons.com

 

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SOURCE Parsons Corporation

FAQ

What contract did Parsons Corporation receive from DHS?

Parsons Corporation was awarded a multi-award COVID-19 testing contract with a ceiling value of $2 billion.

What is included in the COVID-19 testing contract for Parsons Corporation?

The contract includes managed testing services and molecular diagnostic test kits for DHS employees.

How does the DetectWise™ technology work?

DetectWise™ offers touchless kiosks and biometric screeners for non-contact temperature screening and COVID-19 test history management.

When was the DHS contract awarded to Parsons Corporation?

The contract was awarded on February 8, 2021.