MAXIMUS (company)

Maximus Inc. is an contracts with government agencies to provide services to manage and administer government-sponsored programs. Maximus provides administration and other services for Medicaid, Medicare, health care reform, and welfare-to-work, among other government programs. The company is based in Reston, Virginia, has 34,300 employees and a reported annual revenue of $3.46 billion in fiscal year 2020.

History

Maximus was founded in 1975 by David V. Mastran, a Vietnam veteran and former employee of the U.S. Department of Health, Education, and Welfare. Maximus initially operated as a consulting firm for the federal government and later became the first company to provide business process services for welfare reform. It also offered information technology services.[7] In 1988 Maximus received its first contract for social welfare from Los Angeles County, and transitioned its business focus to operating government programs and services.

In 1997, the company went public, trading on the New York Stock Exchange under the symbol MMS. In 2004, Lynn Davenport became chief executive officer. Davenport was terminated in April 2006 for violating the company's code of conduct. Richard Montoni, former chief financial officer for MAXIMUS, was named CEO on April 24, 2006. Montoni has been credited with improving the company's performance. In 2007, the company announced it was exploring strategic alternatives, including sale, but ultimately chose to divest several business lines and focus its business in health and human services business process management.

On April 30, 2008, the organization sold its Security Solutions division. On September 30, 2008, the company sold its Justice Solutions, Education Systems, and Asset Solutions divisions. The company also completed the sale of its ERP division in 2010. In 2010, MAXIMUS acquired DeltaWare, a developer of health administration management systems for the Canadian government health care market. In 2012, the company acquired Denver-based Policy Studies Incorporated (PSI) for $67 million. In 2013, MAXIMUS acquired UK-based Health Management Ltd.(HML). On April 6, 2015, the company completed the $300 million acquisition of Falls-Church-based technology contractor, Acentia. The deal significantly adds to the company's federal business by bringing on new customers and new contract vehicles. In 2018, MAXIMUS acquired U.S. Federal citizen engagement center assets from another government contractor for $400 million in cash.

In 2018, after twelve years as CEO, Richard Montoni announced his retirement and the company appointed President Bruce Caswell to the position of chief executive officer. In 2021, Maximus acquired Attain and Veterans Evaluation Services (VES) for a combined total of $1.8 billion.