MAXIMUS Signs $200 Million, Five-Year, Workforce Services Contract in the United Kingdom
RESTON, Va.--(BUSINESS WIRE)-- MAXIMUS Inc. (NYSE:MMS), a leading provider of government services, announced today that its United Kingdom subsidiary, MAXIMUS Employment & Training, has signed a contract with the United Kingdom Department of Work & Pensions for the delivery of employment services in southeast England. The value of the five-year contract is estimated to be approximately $200 million (USD) and the program is expected to commence operations in October 2009.
The contract is part of the Flexible New Deal, one of the largest set of employment contracts in the United Kingdom. Under the contract, MAXIMUS Employment & Training will deliver employment services for individuals in Surrey, Sussex, and Kent counties who have faced long-term unemployment for more than 12 months. MAXIMUS Employment & Training will manage over 100,000 customers over five years with the aim of achieving sustainable employment for clients. In addition, clients will receive support for addressing barriers to employment and training on a range of skills towards sustained employment.
"This new award establishes MAXIMUS Employment & Training as one of the major welfare to work providers in the United Kingdom," commented MAXIMUS CEO Richard Montoni. "We first entered the UK market with the acquisition of Westcountry Training and Consultancy Services in August of 2008. The work of our exceptional staff enabled us to expand our core human services offerings in this important market. We will capitalize on our proven best practices from our domestic and Australian workforce services programs to drive success in the United Kingdom Government's Flexible New Deal program."
MAXIMUS Human Services is the largest and most experienced provider of workforce-centered services in the United States, Australia, Israel and the United Kingdom. The Company has served as a pioneering leader of welfare reform, helping approximately 500,000 individuals find and keep jobs that set them on the path to economic independence.
MAXIMUS is a leading provider of government services and is devoted to providing health and human services program management and consulting services to its clients. The Company has more than 6,000 employees located in more than 220 offices in the United States, Canada, Australia, Israel and the United Kingdom. Additionally, MAXIMUS is included in the Russell 2000 Index and the S&P SmallCap 600 Index.
Statements that are not historical facts, including statements about the Company's confidence and strategies and the Company's expectations about revenues, results of operations, profitability, future contracts, market opportunities, market demand or acceptance of the Company's products are forward-looking statements that involve risks and uncertainties. These uncertainties could cause the Company's actual results to differ materially from those indicated by such forward-looking statements and include reliance on government clients; risks associated with government contracting; risks involved in managing government projects; legislative changes and political developments; opposition from government unions; challenges resulting from growth; adverse publicity; and legal, economic, and other risks detailed in Exhibit 99.1 to the Company's most recent Quarterly Report filed with the Securities and Exchange Commission, found on www.maximus.com.
Source: MAXIMUS Inc.
Released August 18, 2009