District of Columbia Extends Agreement with Infosys Public Services to Implement Next Phase of its Health Insurance Marketplace and Medicaid Modernization Program
Washington, DC – March 14, 2014: The US District of Columbia has extended its contract with Infosys Public Services, a US-based subsidiary of Infosys. Earlier, the District signed a $49.5 million agreement with Infosys Public Services in January 2013 to develop its Health Insurance Marketplace, the DC Health Link. One of the first state-based marketplaces to be operational as scheduled on October 1, 2013, DC Health Link offers health insurance options to over half a million residents and small businesses.
Under the new agreement, Infosys Public Services will modernize the legacy eligibility system and additional federal and local health and social programs for the US District of Columbia. Infosys Public Services will leverage the foundational capabilities developed in 2013 to enable the District’s agencies to collaborate with their constituents to achieve sustainable health and social benefit outcomes.
Eric Paternoster, President and Chief Executive Officer, Infosys Public Services, Inc.:
“The District is a leader in implementing the new healthcare insurance mandates and insurance marketplace. We’re excited to continue our partnership with the District on this important healthcare program.”
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About Infosys Public Services, Inc.
Infosys Public Services, a U.S. based subsidiary of Infosys (NYSE:INFY), is a leader in business consulting and technology solutions. We partner with healthcare and public sector organizations to help them stay ahead of the innovation curve. Our solutions, combined with execution excellence and proven best practices, allow clients to optimize their operations today while building tomorrow’s enterprise. Visit www.infosyspublicservices.com to learn more.
Infosys is a global leader in consulting, technology and outsourcing solutions. We enable clients, in more than 30 countries, to stay a step ahead of emerging business trends and outperform the competition. We help them transform and thrive in a changing world by co-creating breakthrough solutions that combine strategic insights and execution excellence.
Visit www.infosys.com to see how Infosys (NYSE: INFY), with $7.4B in annual revenues and 158,000+ employees, is Building Tomorrow's Enterprise® today.
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2013 and on Form 6-K for the quarter ended December 31, 2013. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company unless it is required by law.