-- $50M Ceiling Value Contract Awarded to High Performance Technologies, Inc. Subsidiary
-- Leverages Health IT Capabilities Supporting the FDA in Adopting Emerging Technologies
ANDOVER, Mass., Jan. 2, 2013 (GLOBE NEWSWIRE) -- Dynamics Research Corporation (Nasdaq:DRCO), a leading provider of innovative management consulting, engineering, science and technology solutions to federal and state governments, today announced its wholly owned subsidiary, High Performance Technologies, Inc., has been awarded a new contract from the Food and Drug Administration (FDA) to provide scientific computing services. The single award task order contract has a ceiling value of $50 million and a five year period of performance, which began September 17, 2012.Under the terms of the contract, DRC will provide a wide range of science and engineering services to support the FDA in leveraging new technologies and ensuring the necessary processing, storage and connectivity support needed to achieve its scientific computing objectives. DRC will work closely with researchers and scientific computing users to facilitate document requirements, perform system analysis, and provide prototypes of new technologies. "DRC's High Performance Technologies Group is at the forefront of cutting-edge scientific computing best practices," said Jim Regan, DRC's chairman and chief executive officer. "We are looking forward to providing our deep expertise in high performance computing and systems engineering to support the FDA's scientific computing needs related to its mission to enhance public health. "This engagement represents a milestone achievement in the execution of our growth strategy, advancing our federal healthcare market penetration. While we already have a significant level of business at the Department of Veterans Affairs and with the Military Health System, this new relationship with the FDA establishes a strong presence for DRC within the Department of Health and Human Services. We look forward to continuing to expand our business with federal healthcare clients," added Regan.