Maximus

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. 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 for $67 million. In 2013, Maximjus acquired UK-based Health Management Ltd.. 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 for a combined total of $1.8 billion.Maximus has been committed to diversity, equity, and inclusion efforts for its diverse workforce, including the hire of Dr. Arvenita Washington Cherry as Senior Director of DE&I in 2020. Since her arrival, Maximus has instituted new initiatives to facilitate conversations across the company about these issues.

In September 2021, Maximus and Navient announced the two companies signed a definitive agreement to transfer the loan servicing for U.S. Department of Education-owned student loan accounts from Navient to Maximus through a contract novation.

The Federal Student Aid approved the agreement in October 2021, which impacted 5.6 million student loan borrowers. Maximus created a new federal loan servicing unit, known as Aidvantage, and said in a statement, “This is a defining moment for student borrowers…it is imperative we get it right.”In May 2022, Maximus relocated its headquarters to Tysons, Virginia and new office space that was reported to incorporate "many of the post-pandemic office designs that architects and companies are emphasizing."