SAMHSA Awards ICF New Work Totaling $24 Million

Rhea-AI Summary

ICF, a global consulting and technology services provider, expands its partnership with SAMHSA to support mental health programs, including the 988 Suicide & Crisis Lifeline. The five new subcontracts have a combined value of $24 million. ICF will leverage cloud-based data solutions to evaluate the impact of mental health programs and raise awareness. The company has a deep expertise in behavioral health and will deliver a variety of services to address the nation's suicide crisis. ICF has supported SAMHSA on numerous priority initiatives for years, including providing timely access to substance use and mental health trends, improving children's mental health and wellness, and addressing other issues such as underage drinking, school-based mental health, and trauma-informed care. The company is an AWS Advanced Tier Services Partner and has experience implementing a full range of AWS capabilities. ICF combines deep domain expertise with leading-edge technologies, advanced analytics, and human-centered practices to help federal agencies design technology solutions that reduce time-to-value.

Positive

• ICF expands its partnership with SAMHSA to support mental health programs
• The five new subcontracts have a combined value of $24 million
• ICF will leverage cloud-based data solutions to evaluate the impact of mental health programs and raise awareness
• The company has deep expertise in behavioral health and will deliver a variety of services to address the nation's suicide crisis
• ICF has experience implementing a full range of AWS capabilities

Negative

• None.

Market Research Analyst

The announcement of ICF's expanded partnership with SAMHSA represents a significant business development with tangible financial implications. The contracts, valued at $24 million, provide a clear revenue stream over the next several years. It's essential to note that the behavioral health sector is seeing increased investment, reflecting a broader societal recognition of mental health's importance. ICF's expertise in cloud and data solutions positions them competitively in the market, especially as government agencies increasingly seek technology partners to modernize and improve public health services.

From a market perspective, this expansion can be seen as a positive indicator of ICF's growth potential and its ability to secure long-term contracts. Investors may view this news as a reinforcement of ICF's market position and a testament to their specialized capabilities in cloud-based solutions and behavioral health. The diversification of services, from cloud-based data collection to public awareness campaign support, suggests a strategic approach to capitalizing on multiple facets of public health initiatives, which could lead to further opportunities and partnerships.

Financial Analyst

The financial impact of these contracts for ICF should be considered in the context of the company's overall revenue and growth strategy. The $24 million value of the contracts, while substantial, must be evaluated against ICF's financials to understand the relative impact on their bottom line. Given the five-year term of the agreements, this will likely provide a stable income stream and contribute to the company's forward earnings visibility. Additionally, the involvement in high-profile public health initiatives such as the 988 Suicide & Crisis Lifeline could enhance ICF's reputation, potentially leading to increased stock market confidence and investor interest.

However, it's important to scrutinize the costs associated with delivering these services, including the investment in cloud infrastructure and the potential need for specialized personnel. The balance between the revenue from the contracts and the associated costs will ultimately determine the profitability of these agreements for ICF. Moreover, given that the contracts include one-year base terms with multi-year options, the financial impact may vary depending on the actual duration of the contracts.

Cloud Technology Expert

ICF's role in developing a cloud-based data collection and reporting system on Amazon Web Services (AWS) for public health programs is a critical technological undertaking. The ability to leverage cloud computing for large-scale data management and analysis is increasingly vital in public health initiatives, where real-time data and insights can significantly affect outcomes. The use of AWS, a leading cloud service provider, suggests that ICF is implementing robust and scalable solutions that can handle the demands of such important programs.

Understanding the technical requirements and the potential impact of these systems on program efficacy is crucial. The integration of advanced analytics, artificial intelligence (AI) and machine learning (ML) capabilities can enhance the effectiveness of public health campaigns and crisis response. ICF's experience and certifications in AWS services are indicative of their technical proficiency, which is likely to contribute to the success of these initiatives. The deployment of such technologies could set a precedent for future federal agency modernization, potentially leading to a ripple effect across the sector as more agencies look to adopt similar solutions.

ICF to Leverage the Cloud to Support Suicide Prevention, Substance Misuse and Other Programs

RESTON, Va., Feb. 7, 2024 /PRNewswire/ -- The Substance Abuse and Mental Health Administration (SAMHSA) expanded its longstanding partnership with ICF, a global consulting and technology services provider (NASDAQ:ICFI), with five new subcontracts to support mental health programs, including evaluation and communications support for the agency's 988 Suicide & Crisis Lifeline. The agreements have a combined value of $24 million.

"For over 30 years, ICF's deep expertise in behavioral health and our advanced cloud and data solutions have helped SAMHSA deliver critical programs that support individuals in moments of crisis," said Jennifer Welham, ICF senior vice president for health, people and human services. "These new agreements expand our longstanding partnership with SAMHSA to help the agency better evaluate the impact of and raise awareness for mental health programs that change and save lives. We are proud to be a trusted partner to SAMHSA in helping advance their critical public health mission."

For three of the five service agreements, ICF will deliver a variety of behavioral health and technology-based support services, totaling $16.1 million. Each has a term of five years, including a one-year base and four one-year options. Services will help address the nation's suicide crisis and include communications and data visualization support for the 988 Lifeline program (which was awarded in the second quarter of 2023) and the evaluation of the 988 Lifeline and Crisis Services programs and the Zero Suicide Program, including building a large cloud-based data collection and reporting system for both on Amazon Web Services (AWS).

For two of the five service agreements, ICF will support SAMHSA's substance misuse and mental health programs, totaling $8 million. The first includes services to provide communications for public awareness and education campaigns, including SAMHSA's National Recovery Campaign, which has a term of four years, including a one-year base and three one-year options. The second provides block grant recipients with program monitoring and technical assistance and has a term of five years, including a one-year base and four one-year options.

ICF has supported SAMHSA on numerous priority initiatives for years including providing timely access to substance use and mental health trends, improving children's mental health and wellness, and addressing other issues such as underage drinking, school-based mental health, trauma-informed care, behavioral health treatment court collaboratives, supported employment and more. 

A leader in cloud modernization solutions, ICF has deployed hundreds of cloud migration implementations across numerous federal agencies to help them achieve their mission outcomes. An AWS Advanced Tier Services Partner with over 230 certifications and 260 accreditations, ICF has experience implementing a full range of AWS capabilities from cloud operations, artificial intelligence (AI), machine learning (ML), cloud native development, cloud infrastructure, application modernization and migration, data sharing and more.

ICF combines deep domain expertise with leading-edge technologies, advanced analytics and human-centered practices to help federal agencies design technology solutions that reduce time-to-value. The company's over 2,000 technologists work hand-in-hand with thousands of industry experts and an expansive ecosystem of over 30 platform partners to rapidly deliver scalable technology solutions that accelerate mission readiness, improve mission outcomes and achieve a step change in productivity.

Read more about ICF's public health and digital modernization services and technology partnerships.

About ICF
ICF is a global consulting and technology services company with approximately 9,000 employees, but we are not your typical consultants. At ICF, business analysts and policy specialists work together with digital strategists, data scientists and creatives. We combine unmatched industry expertise with cutting-edge engagement capabilities to help organizations solve their most complex challenges. Since 1969, public and private sector clients have worked with ICF to navigate change and shape the future. Learn more at icf.com.

Caution Concerning Forward-looking Statements
Statements that are not historical facts and involve known and unknown risks and uncertainties are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such statements may concern our current expectations about our future results, plans, operations and prospects and involve certain risks, including those related to the government contracting industry generally; our particular business, including our dependence on contracts with U.S. federal government agencies; our ability to acquire and successfully integrate businesses; and the effects of the novel coronavirus disease (COVID-19), or any other future pandemic, and related national, state and local government actions and reactions, on the health of our staff and that of our clients, the continuity of our and our clients' operations, our results of operations and our outlook. These and other factors that could cause our actual results to differ from those indicated in forward-looking statements that are included in the "Risk Factors" section of our securities filings with the Securities and Exchange Commission. The forward-looking statements included herein are only made as of the date hereof, and we specifically disclaim any obligation to update these statements in the future.

Contact: Lauren Dyke, lauren.dyke@ICF.com, +1.571.373.5577 

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SOURCE ICF

FAQ

What is the value of the five new subcontracts ICF has with SAMHSA?

The five new subcontracts have a combined value of $24 million.

What kind of services will ICF provide to address the nation's suicide crisis?

ICF will deliver a variety of behavioral health and technology-based support services to address the nation's suicide crisis.

What is ICF's expertise in?

ICF has deep expertise in behavioral health and will leverage cloud-based data solutions to evaluate the impact of mental health programs and raise awareness.

What kind of partner is ICF to AWS?

ICF is an AWS Advanced Tier Services Partner and has experience implementing a full range of AWS capabilities.