Government services provider Maximus has inked an agreement to acquire the parent company of Veterans Evaluation Services, Inc. for a purchase price of $1.4 billion, subject to certain adjustments.
Privately held VES serves the U.S. federal government, supporting the Department of Veterans Affairs as a provider of medical disability examinations to determine veterans’ eligibility for compensation and pension benefits.
The proposed transaction is subject to U.S. antitrust filing requirements and customary closing conditions. The acquisition is expected to close in the company’s third fiscal quarter.
“We welcome the employees of VES, who are leaders in serving the U.S. Department of Veterans Affairs and, together with Maximus, will continue to support our nation’s heroes, through programs and services targeted at addressing the personal, health, and employment needs of Veterans and their families,” said Maximus President and CEO Bruce Caswell.
VES Founder George Turek added:
“We are pleased to enter into this transaction with Maximus, an organization that shares the unwavering commitment to Veterans that has always been the core of the VES mission. We admire the Maximus organization’s high-quality reputation and track record of operating and managing large complex programs and performing mission critical functions for government agencies.”