Maximus Inc. is an American publicly traded company that provides health, human services, and information technology solutions to government agencies at the federal, state, and local levels. The company operates primarily in the United States, but also maintains a presence in several international markets, including Canada, the United Kingdom, and the Middle East.
Corporate profile
| Item | Details |
|---|---|
| Founded | 1975 (originally as The Maximus Group) |
| Headquarters | Reston, Virginia, United States |
| Key people | Mark J. Goldstein – Chairman, President and Chief Executive Officer (as of 2024) |
| Industry | Government services, health and human services, IT consulting |
| Products / Services | Administration of Medicaid, Medicare, and other public health programs; workforce development; child welfare services; unemployment insurance processing; technology platforms for case management, eligibility determination, and data analytics |
| Stock information | Listed on the New York Stock Exchange under the ticker symbol MAX |
| Revenue | US $5.5 billion (2023 fiscal year) |
| Employees | Approximately 30,000 (2023) |
History
Maximus was established in 1975 by a group of entrepreneurs in Tampa, Florida, to provide consulting services to health and human service agencies. Over the subsequent decades, the firm expanded through organic growth and a series of acquisitions, notably the purchase of the government‑services division of General Dynamics in 2003 and the acquisition of the UK-based public‑sector outsourcing firm Serco’s health and social care contracts in 2015. The company went public in 2006, raising capital through an initial public offering on the NYSE.
Operations and contracts
The firm’s portfolio consists largely of federally funded programs administered on behalf of agencies such as the Centers for Medicare & Medicaid Services (CMS), the Department of Health and Human Services (HHS), the Department of Labor (DOL), and state Medicaid agencies. Maximus manages eligibility determinations, enrollment processing, customer service call centers, and program analytics. In addition to health programs, the company provides workforce development services that include job‑training, placement, and unemployment insurance processing for state labor departments.
Corporate governance and accountability
Maximus maintains a board of directors responsible for overseeing corporate strategy, risk management, and compliance with applicable regulations. The firm is subject to oversight by the U.S. Office of Inspector General and various state auditors, given the public‑funded nature of many of its contracts. The company has faced scrutiny in the past concerning contract performance and data security, leading to the implementation of enhanced internal controls and data‑privacy protocols.
Legal and regulatory context
Because Maximus administers programs funded by taxpayer dollars, it is bound by the Federal Acquisition Regulation (FAR) and corresponding state procurement statutes. The firm must routinely submit performance metrics, audit reports, and compliance documentation to contracting agencies.
Recent developments (2023‑2024)
- In 2023, Maximus secured a multi‑year contract with the U.S. Department of Health and Human Services to modernize the Medicaid enrollment platform for several states, valued at approximately US $1 billion.
- The company announced a strategic partnership with a leading cloud‑computing provider to migrate legacy case‑management systems onto a scalable, secure cloud infrastructure.
- Maximus reported a 7 % increase in net income for fiscal year 2023, attributing growth to expanded contract awards and operational efficiencies.
References
- Maximus, Inc. Annual Report 2023 (Form 10‑K). U.S. Securities and Exchange Commission.
- “Maximus, Inc. – Company Profile.” Bloomberg Businessweek.
- “Maximus Wins $1 Billion Medicaid Contract.” Federal News Network, March 2023.
- “Mark J. Goldstein appointed CEO of Maximus, Inc.” Business Wire, January 2022.