Colorado Signs $4.7 Million Healthcare Enrollment Contract with MAXIMUS.RESTON, Va. -- MAXIMUS (NYSE NYSE See: New York Stock Exchange :MMS (Multimedia Messaging Service) An enhanced transmission service that enables graphics, video clips and sound files to be transmitted via cellphones. Developed as part of the 3GPP project, MMS phones are generally backward compatible with SMS and EMS. ), a leading provider of health program management services to government, announced today that the Company has signed a contract with the Colorado Department of Health Care Policy and Financing to continue to provide managed care education and enrollment services for Colorado's Medicaid Medicaid, national health insurance program in the United States for low-income persons; established in 1965 with passage of the Social Security Amendments and now run by the Centers for Medicare and Medicaid Services. program. The contract is valued at approximately $4.7 million for a four and a half year term. MAXIMUS began services as the Colorado Medicaid Managed Care Enrollment broker in May 1998 and has since won three competitive bids to continue to provide these services in Colorado. The program provides service for over 400,000 Medicaid clients statewide through a central processing facility located in downtown Denver. "This is an outstanding example of the type of long-term partnerships MAXIMUS enjoys with our State government clients. In Colorado, we have helped consumers make informed decisions about their healthcare choices for more than eight years. This is a partnership that has truly worked for the State and for the citizens of Colorado," declared Richard Montoni, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of MAXIMUS. MAXIMUS is the leading enrollment broker in the nation, currently providing services in ten states across the country: California, Colorado, Georgia, Iowa, Massachusetts, Michigan, New York, Texas New York is a hamlet in Henderson County, Texas, USA, about 11 miles east of Athens. Geography New York lies at the intersection of FM 804 and FM 607 in a stereotypically flat portion of East Texas, surrounded mostly by farm land. , Virginia, and Vermont, serving an estimated 11.1 million Medicaid managed care beneficiaries. The Company provides services to 42 percent of the Medicaid managed care beneficiary beneficiary Person or entity (e.g., a charity or estate) that receives a benefit from something (e.g., a trust, life-insurance policy, or contract). A primary beneficiary receives proceeds from a trust or insurance policy before any other. population nation wide, which is 7.4 million more than the closest competitor. MAXIMUS is one of America's leading government services companies devoted to providing program management, consulting and information technology services. The Company has more than 5,200 employees located in more than 280 offices in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada, and Australia. In 1999, 2001, 2002, 2003, and 2004 MAXIMUS was selected by Forbes Magazine as one of the Best 200 Small Companies in America for that year. MAXIMUS was selected by Business Week Magazine as one of the 100 Best Hot Growth Small Companies in 1999, 2000, 2001, and 2002. Additionally, MAXIMUS is included in the Russell 2000 Index Russell 2000 Index An index measuring the performance of the 2,000 smallest companies in the Russell 3000 Index, which is made up of 3,000 of the biggest U.S. stocks. The Russell 2000 serves as a benchmark for small-cap stocks in the United States. 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 forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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 (file number 001-12997) on August 8, 2006. |
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