MAXIMUS Acquires UK-Based Company Health Management Limited

  MAXIMUS Acquires UK-Based Company Health Management Limited

    - Acquisition Brings Independent Health Assessment Capabilities to the
             Company’s Business Portfolio in the United Kingdom -

Business Wire

RESTON, Va. -- July 1, 2013

MAXIMUS (NYSE:MMS) announced today that it has completed the acquisition of
Health Management Limited, an independent provider of occupational health care
services in the United Kingdom.

Health Management is the premier provider of health assessments in the UK,
bringing a well-respected management team and an unparalleled reputation for
quality to MAXIMUS. The acquisition establishes a foothold for MAXIMUS Health
Services in the UK and expands the Company’s independent medical review
business, which was developed over several decades of serving public health
insurance programs in the United States.

Founded in 2002, Health Management is one of the largest independent
occupational health providers in the UK and currently serves approximately 450
private and public sector clients. Public sector clients include UK Central
Government Departments, large Local Authorities, as well as Police and Fire
Authorities. Health Management is a recognized provider of health assessment
services, which include health questionnaires, sickness absence referrals,
pension appeals, and on-site health services.

“We are firmly committed to delivering exceptional service in the UK and the
acquisition of Health Management broadens our business portfolio in this
important market. Our strong performance as a leading provider for the Work
Programme, combined with Health Management’s deep expertise in the health
assessment market, strengthens our ability to capitalize on emerging new
opportunities. The acquisition provides an excellent platform to best position
MAXIMUS for opportunities in the UK health market and also supports our
long-term growth objectives as we expand our service offerings and bring our
core capabilities into new markets,” commented Richard A. Montoni, Chief
Executive Officer of MAXIMUS.

Montoni continued, “Health Management and MAXIMUS share the same fundamental
values, with a focus on quality and on providing clients with innovative
solutions to address their health, social and productivity challenges. We
believe that our people are the cornerstone of our success and we share a
common commitment to investing and developing staff. We are thrilled to
welcome the Health Management employees to our team and we are excited about
the many opportunities ahead.”

Excluding transaction costs, MAXIMUS expects that Health Management will
contribute approximately $11 million in revenue for the three months ended
September 30, 2013 and that it will be neutral to earnings for its fourth
fiscal quarter. As a result, MAXIMUS is raising its fiscal 2013 revenue
guidance by $10 million and now expects revenue to range between $1.26 billion
and $1.31 billion. The Company is reiterating its guidance for adjusted
diluted earnings per share and still expects a range from $1.50 to $1.58 for
fiscal 2013. Earnings estimates reflect the split of the Company’s common
stock which occurred on June 28, 2013. For fiscal 2014, Health Management is
expected to contribute approximately $55 million in revenue and it will be
neutral to slightly accretive to earnings. The transaction closed on July 1,
2013.

Deloitte LLP advised Health Management Limited on the transaction.

About MAXIMUS

MAXIMUS is a leading operator of government health and human services programs
in the United States, United Kingdom, Canada, Australia and Saudi Arabia. The
Company delivers business process services to improve the cost effectiveness,
efficiency and quality of government-sponsored benefit programs, such as
Medicaid, Medicare, Children's Health Insurance Program (CHIP), Health
Insurance BC (British Columbia), as well as welfare-to-work and child support
programs around the globe. The Company's primary customer base includes
federal, provincial, state, county and municipal governments. Operating under
its founding mission of Helping Government Serve the People^®, MAXIMUS has
approximately 8,800 employees worldwide. For more information, visit
www.maximus.com.

About Health Management

Health Management is the UK’s largest independent occupational health
provider, currently serving approximately 450 large public and private sector
clients, who together employ approximately two million individuals. Health
Management's health assessment services include health questionnaires,
sickness absence referrals, pension appeals and on-site health services.
Health Management’s clients include Central Government Departments, such as
the Home Office, Large Local Authorities, Police and Fire Authorities. Health
Management employs the largest team of consultant occupational health
physicians, who lead an established clinical team operating across more than
45 Health Management clinics and at more than 80 client sites throughout the
UK. Health Management also manages a network of 200 occupational health and
other specialist practitioners. Health Management is accredited to ISO 9001,
ISO 27001 and SEQOHS, and has recently been ranked by the Sunday Times as one
of the top 100 “Best Companies to Work for” in the UK.

Contact:

MAXIMUS
Lisa Miles, 703-251-8637
lisamiles@maximus.com
 
Press spacebar to pause and continue. Press esc to stop.