Department of State Selects Palantir to Modernize Data Management for the Bureau of Medical Services

Palantir Technologies (NYSE: PLTR) has secured a $99.6 million BPA contract from the Department of State to enhance data management for the Bureau of Medical Services (MED) over five years.

Rhea-AI Summary

Palantir Technologies (NYSE: PLTR) has secured a $99.6 million BPA contract from the Department of State to enhance data management for the Bureau of Medical Services (MED) over five years. The project, titled Project Axiom, aims to improve decision-making and operational efficiency for the safety and health of U.S. diplomatic personnel. Emphasizing rapid responses to global crises, the platform will support emergency management, logistics, and medical support. This contract expands Palantir's existing partnership with the State Department, building on past collaborations since 2017, particularly in global health initiatives.

Positive

• Secured a $99.6 million contract from the Department of State, enhancing revenue potential.
• Project Axiom aims to improve operational efficiencies within the Bureau of Medical Services.
• Expands ongoing collaboration with the State Department, indicating trust and future growth opportunities.

Negative

• None.

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DENVER, March 8, 2023 /PRNewswire/ -- Palantir Technologies Inc. (NYSE: PLTR) today announced that it has been selected by the Department of State to provide the Bureau of Medical Services (MED) with a platform for effective data management and data-driven decision-making. This competitively awarded BPA contract is worth $99.6 million over five years.

Palantir software will be used by MED to establish a new enterprise data management platform for the department, titled Project Axiom. With MED's mission to advance the health, safety, and readiness of State Department personnel, Axiom will provide the Bureau with a common operational picture to better protect the diplomatic workforce and their families through data-informed decision-making. More specifically, the platform will help improve the Bureau's ability to react swiftly to global crises by enabling workflows related to emergency management and preparedness, mission tracking and logistics, aviation operations, and medical support. 

As part of the Department of State's broader digital modernization efforts, this project will provide MED with a new set of tools and capabilities to safeguard and promote the health and well-being of America's diplomatic community. Axiom is at the core of a digital transition to enhance the delivery of proactive and efficient medical support to chief of mission personnel following a crisis, natural, or man-made disaster. This health-focused, enterprise-wide data integration and analytics platform will enable Bureau and Department leadership to make rapid decisions that reduce risk to mission and safeguard and promote the health and well-being of America's diplomatic community. 

"America's diplomatic workforce is one of the first lines of engagement between the U.S. and the rest of the world, and ensuring their safety and health is paramount to advancing international relations. We're honored to bring Palantir's proven software to the State Department to better understand and proactively manage operations that help protect these individuals and their families abroad," said Akash Jain, President, Palantir USG. 

This new contract builds on Palantir's ongoing work with the State Department in the area of global health and medicine. 

"We are proud to expand our partnership with the State Department and support this critical mission to safeguard our diplomatic workforce," said Mahtab Emdadi, State Department Lead at Palantir. "We look forward to continuing to work alongside the Department to further their goals of data-driven diplomacy through the use of innovative technologies."

Palantir first began working with the State Department in 2017, supporting HIV/AIDS analysis for the U.S. President's Emergency Plan for AIDS Relief (PEPFAR) through the Office of the U.S. Global AIDS Coordinator and Health Diplomacy. 

About Palantir Technologies Inc.
Foundational software of tomorrow. Delivered today. Additional information is available at https://www.palantir.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir's expectations regarding the amount and the terms of the contract and the expected benefits of our software platforms. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control. These risks and uncertainties include our ability to meet the unique needs of our customer; the failure of our platforms to satisfy our customer or perform as desired; the frequency or severity of any software and implementation errors; our platforms' reliability; and our customer's ability to modify or terminate the contract. Additional information regarding these and other risks and uncertainties is included in the filings we make with the Securities and Exchange Commission from time to time. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.

Media Contact 
Lisa Gordon, media@palantir.com

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SOURCE PALANTIR TECHNOLOGIES INC.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the value of the new contract secured by Palantir with the Department of State?

The new contract is valued at $99.6 million over five years.

What is Project Axiom related to Palantir Technologies?

Project Axiom is an enterprise data management platform for the Bureau of Medical Services to enhance data-driven decision-making.

When did Palantir first start working with the Department of State?

Palantir began working with the Department of State in 2017.

How will Project Axiom benefit the Bureau of Medical Services?

Project Axiom will improve the Bureau's ability to manage global crises and enhance medical support for State Department personnel.

What are the goals of the partnership between Palantir and the State Department?

The goals include advancing health, safety, and readiness of diplomatic personnel through data-driven solutions.