Executive Summary
These 7 HHS contracts total $147,636,753 in obligations, all civilian with 0 defense-related, focused on IT services and support amid steady health agency spending.
CMS leads with $72,532,902 across SOFTRAMS LLC ($39,802,077 custom programming), RELI GROUP INC ($18,661,857 Medicare oversight), and NOBLIS, INC ($14,068,968 project management), while NIH features THUNDERCAT TECHNOLOGY, LLC ($26,800,350 Cisco equipment) and FRED HUTCHINSON CANCER CENTER ($15,149,061 cancer info service). Highest-conviction signal is neutral execution momentum, with SOFTRAMS at $35.6M outlayed on $39.8M obligation and NOBLIS at $8.2M on $14.1M. Key risk is high fixed-price execution for small contractors like SOFTRAMS and THUNDERCAT; watch option exercises post-2026 periods.
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Tracking the trend? Catch up on the prior All HHS Contracts digest from May 07, 2026.
Investment Signals (3)
- SOFTRAMS LLC $39.8M CMS IT Obligation Near Full Outlay (MEDIUM)▲
SOFTRAMS LLC has outlayed $35,651,880 on its $39,802,077 firm fixed price delivery order for CMS custom programming (potential $91.6M with options), signaling strong 89% execution since June 2024.
- NOBLIS INC $14.1M CMS Delivery Order 58% Executed (MEDIUM)▲
NOBLIS, INC. has outlayed $8,226,064 on its $14,068,968 firm fixed price order for CMS project management (potential $14.6M), indicating solid progress over 17-month period to September 2026.
- High Fixed-Price Risks on THUNDERCAT $26.8M NIH Order (HIGH)▲
THUNDERCAT TECHNOLOGY, LLC faces high contract pricing risk on its $26,800,350 firm fixed price delivery order for NIH Cisco equipment (potential $68.7M), with only $13M outlayed to date.
Risk Flags (2)
- Execution [HIGH RISK]▼
High fixed-price risks for small contractors on SOFTRAMS LLC $39.8M CMS order and THUNDERCAT $26.8M NIH order, plus NAVA PBC $15.1M HHS BPA call, amid low average signal strength 3.9/10.
- Budget [MEDIUM RISK]▼
Low early outlays on RELI GROUP INC $18.7M CMS Medicare order ($5.4M of $18.7M) and NAVA PBC $15.1M ($2.4M of $15.1M) signal potential funding delays in time & materials and fixed-price structures.
Opportunities (2)
- ◆
CMS IT expansion via SOFTRAMS LLC $39.8M (potential $91.6M to 2029), RELI GROUP INC $18.7M (potential $59.2M to 2030), and NOBLIS $14.1M (potential $14.6M)
- ◆
Small business set-asides for SOFTRAMS LLC (HUBZone, $39.8M CMS), THUNDERCAT (SDVOSB, $26.8M NIH), and NAVA PBC ($15.1M HHS) signal policy-driven revenue stability.
Sector Themes (2)
- ◆
CMS awarded $72.5M across SOFTRAMS LLC ($39.8M custom programming), RELI GROUP INC ($18.7M drug price negotiation), and NOBLIS INC ($14.1M project management), with strong outlays on top two.
- ◆
NIH issued $41.9M total to THUNDERCAT TECHNOLOGY, LLC ($26.8M Cisco IT) and FRED HUTCHINSON CANCER CENTER ($15.1M cancer info contact centers), aligning with steady research funding.
Watch List (4)
- 👁
{"entity"=>"SOFTRAMS LLC", "reason"=>"$39.8M CMS obligation with $35.7M outlayed; high fixed-price risk", "trigger"=>"option exercises beyond 2026-06-04; full $39.8M outlay"}
- 👁
{"entity"=>"NOBLIS, INC.", "reason"=>"$14.1M CMS order 58% outlayed ($8.2M); highest materiality", "trigger"=>"$536K options exercise; outlays to $14.6M potential by 2026-09-30"}
- 👁
{"entity"=>"THUNDERCAT TECHNOLOGY, LLC", "reason"=>"$26.8M NIH order with $13M outlayed; high fixed-price risk", "trigger"=>"options to $68.7M ceiling; milestones to 2027-04-30 or 2029-04-30"}
- 👁
{"entity"=>"Kelly Services, Inc. (KELYA)", "reason"=>"$18.1M HHS grant with limited details; sole public company exposure", "trigger"=>"outlay or modification updates"}
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