MAXIMUS Awarded Program Expansion for British Columbia Health Project
Province of British Columbia Awards MAXIMUS Approximately $14.2 Million (US) in Enhancements for the Province's PharmaNet System
RESTON, Va.--(BUSINESS WIRE)--
MAXIMUS Inc. (NYSE:MMS), a leading provider of government services, announced today that its Canadian subsidiary has signed an amendment valued at approximately $14.2 million (US) to its Master Services Agreement with the Province of British Columbia Ministry of Health. The amendment applies to the PharmaNet program which MAXIMUS has administered since April 2005. PharmaNet links all British Columbia pharmacies to a central set of data systems and supports drug dispensing, drug monitoring and claims processing. Under the amendment, MAXIMUS will lead the effort to upgrade the Province's application to the next generation PharmaNet-eRx application.
The PharmaNet-eRx upgrade is part of the Province's eDrug initiative which will improve authorized access to patient medication histories, enhance the content of medication profiles, automate special authority processing and allow for electronic prescribing. In support of PharmaNet-eRx, MAXIMUS will configure, install and deploy a new drug information system (DIS). The enhancement effort is expected to broaden the quality service MAXIMUS already delivers to British Columbia's pharmaceutical and medical community.
"The expansion of our partnership with the British Columbia Ministry of Health demonstrates our ongoing commitment to provide unparalleled service in our core markets. We are proud of the ongoing quality service we continue to deliver to the pharmaceutical and medical community in British Columbia and we look forward to expanding and enhancing that service. PharmaNet-eRx is an important step towards furthering the Ministry of Health's eHealth Electronic Health Record initiative and we are excited to support these efforts," said Richard Montoni, Chief Executive Officer of MAXIMUS.
Funding for this major upgrade to British Columbia's PharmaNet system comes from the Province and Canada Health Infoway, a federal, non-profit organization with the mandate to accelerate the adoption of electronic health information systems across Canada.
This amendment is an expansion of the November 2004 Master Service Agreement between MAXIMUS and the Province of British Columbia. The original Agreement was valued at approximately $268 million (US) and under the terms of the contract MAXIMUS provides health benefit operations administrative services to the province which includes registering all British Columbia residents for their medical and pharmacy benefits, maintaining correct information on all registered residents, confirming premium assistance eligibility, registering all health care providers, and processing payments for medical and pharmacy claims.
About MAXIMUS, Inc.
MAXIMUS is a leading provider of program management, consulting and information technology solutions primarily to government clients. The Company has more than 6,000 employees located in more than 220 offices in the United States, Canada and Australia. 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 Annual Report on Form 10-K filed with the Securities and Exchange Commission (file number 001-12997).
Source: MAXIMUS
Released March 7, 2008