DLH Holdings Corp., “a leading provider of innovative healthcare research, services and solutions to the federal government, today announced that it has acquired privately-held Irving Burton Associates, LLC (“IBA”) of Falls Church, Virginia. The firm, with approximately 115 employees, provides research, systems development, and other technology-enabled solutions to the Defense Health Agency (“DHA”), the Telemedicine & Advanced Technology Research Center (“TATRC”) of the US Army’s Medical Research and Development Command (“USAMRDC”), and other agencies within the U.S. Department of Defense (“DoD”). IBA maintains a top-secret facility clearance, and its defense contracts provide for a range of health IT services including digital transformation, data analytics, cybersecurity, and artificial intelligence (“AI”).”
“IBA was purchased for $32.0 million in cash, or $26.5 million net of transaction-related tax benefits worth approximately $5.5 million on a net present value basis. DLH estimates that IBA will contribute annualized revenue of approximately $25 million to the Company going forward, and the firm’s backlog was approximately $143 million at closing…”
“… IBA complements our capabilities and enhances our readiness profile for military and other agency business through research, analytics, and advancing technologies,” said Zachary Parker, DLH President & CEO. “For several decades IBA has leveraged its expertise in program management, research and engineering, and health data analytics to expand its business in support of agencies in the Military Health System (MHS). We are confident that IBA will …”
Source: DLH Acquires IBA to Bolster its DoD Health Technology Capabilities, October 1, 2020. DLH.
G2X TAKE: Another year and another huge acquisition for this leading Healthcare and human services provider to the Federal Government, with the purchase of this small business adding significant past performance providing research, systems development, and other technology-enabled solutions to the Defense Health Agency (DHA) and the US Army Telemedicine & Advanced Technology Research Center (TATRC).
- Led by President and CEO Zachary Parker, this acquisition is just a year removed from DLH completing a $70M acquisition of Social & Scientific Systems (“S3”), an established public health service organization providing solutions in clinical and biomedical research, epidemiology, health policy, and program evaluation; and is only a few years removed from their $39M acquisition of Federal Health technology-enabled program management, consulting, and digital communications solutions provider Danya.
- Other investments – DLH announced several recent executive leadership appointments, to include adding Jeanine Christian as a new President to lead S3; recruiting industry veteran Jackie Everett as a new Chief Growth Officer; and early this year adding Military Veteran and Clinical Informaticist Maureen Lucy Schafer to serve as a Healthcare Practice Leader.
- Led by President, Mary Dowdall, IBA has been a major partner to MHS and DHA for many years, with this group recently being awarded a $101M DHA Program Management Support Contract with partner Deloitte; having the U.S. Army Medical Research and Development Command (USAMRDC) award IBA a multi-year contract to provide research, scientific, management, and technical support for its Telemedicine and Advanced Technology Research Center (TATRC); and Defense Health Agency (DHA) renewing IBA’s contract supporting the DHA’s Portfolio and Resource Management Division (PRMD). More here.
- The IBA supported Defense Health Agency (DHA) Solution Delivery Division (SDD) Agile Playbook was selected as a 2019 FedHealthIT Innovation Award winner. More here.
- IBA and DLH were both recently named to the updated list of NXT UP firms poised to make big waves in the Federal sector in 2020 and for years to come.
Included below is a snapshot of Prime obligations for IBA across the Federal sector since 2016.