Maximus has agreed to acquire Denver-based government health and human services provider Policy Studies for $67 million cash, the company announced Thursday.
The Reston, Va.-based firm said it expects the transaction to close on April 30 and to slightly increase its earnings per share for the rest of fiscal year 2012.
The company expects a greater increase to earnings in fiscal year 2013.
Maximus CEO Richard Montoni said the degree of overlap between the two companies makes the acquisition a natural fit for both companies.
Policy Studies generated $137 million in revenue for the year ending Dec. 31, 2011 and has nearly 1, 300 employees based in the U.S.
That company helps governments administer public health insurance programs such as Medicaid and the Children’s Health Insurance Progra, welfare-to-work services and child support enforcement.
Maximus generated $929.6 million in revenue for the full fiscal year 2012, 12 percent more than the previous fiscal year.
