Mega Contracts Monitor ($100M+) — March 14, 2026

Four VA awards totaling $1.58B (38% of period value) to TriWest, Veterans Eval Svcs, Cognosante, Technatomy signal entrenched demand for medical evaluations, health insurance, and DevSecOps IT through 2029.

$980M across two HHS/BARDA contracts to nonprofits/small biotechs (Advanced Tech Intl $795M, MAPP $185M obligated/$907M options) for viral therapeutics and health R&D through 2032.

L3Harris secures $814M NASA obligation ($217M outlayed) for CRIS instrument through 2029, with BL Harbert's $814M State Dept design services to 2029 adding infrastructure exposure.

Salient CRGT's $422M obligated/$876M options GSA delivery order for DEA IT through potential 2028 underscores federal IT services growth.

Firm fixed price in 6/9 contracts exposes winners to cost overruns, amplified by long periods (to 2032) and low outlays (avg. 30-50% realized except high performers like Veterans Eval 96%).

Subawards total $458M across 5 contracts (e.g., L3Harris $169M/538 subs, Salient $187M/128) create subcontractor dependencies.

Short 1-month perf for TriWest's $820M despite huge obligation raises funding/execution timing risks post-award.

Unobligated options exceed $2B potential (e.g., Salient $454M, MAPP $722M, Cognosante $241M) for 2-5x obligation upside through 2028-2032.

Veteran-owned firms (Veterans Eval $381M, Technatomy $132M) winning non-setaside full competition signals scalable VA alignment.

High outlays (e.g., Veterans Eval 96%, Technatomy 71%) indicate near-term cash flow in $1.2B+ executed value.

VA/HHS contracts comprise 65% ($3B) of value, focusing medical evals, insurance, biotech R&D amid long horizons to 2029+.

Three IT awards ($798M total) via full competition highlight DevSecOps/systems demand for VA/GSA/DEA.

8/9 extend 3-10+ years with options, but low nonprofit equity appeal (1 neutral).

{"entity"=>"L3Harris Technologies (LHX)", "reason"=>"Largest public entity with $814M NASA through 2029, $217M outlayed, $19M options upside.", "trigger"=>"Q1 earnings beat or NASA CRIS milestones"}

{"entity"=>"VA Healthcare Providers (TriWest, Veterans Eval)", "reason"=>"$1.2B combined, high outlays signal cash flow but short/long perf variances.", "trigger"=>"Feb 2026 TriWest execution or FY25 extensions"}

{"entity"=>"BARDA Biotech (MAPP, Advanced Tech Intl)", "reason"=>"$980M viral therapeutics R&D with $722M options to 2032.", "trigger"=>"option funding or Phase III trial data"}