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Colorado Awards HP $116 Million Medicaid Contract

HP to Implement 15th interChange Medicaid System, Serve as State's Medicaid Fiscal Agent

PALO ALTO, CA -- (Marketwired) -- 04/22/14 -- HP Enterprise Services (NYSE: HPQ) today announced the Colorado Department of Health Care Policy and Financing has signed a $116.9 million contract for HP to implement a new Medicaid management system.

HP will serve as the state's Medicaid fiscal agent to strengthen operations and support Colorado's healthcare reform initiatives once the new system is implemented.

The five-year agreement, which includes five option years not included in the announced contract value, comprises configuration and implementation of a new Colorado interChange Medicaid Management Information System (MMIS) as well as ongoing system enhancements and maintenance. HP also will serve as the state's system integrator to facilitate interface development between the Colorado MMIS and the state's pharmacy benefits management, business intelligence and data management systems.

The Colorado MMIS will be based on HP's interChange Healthcare platform, a powerful, constantly evolving solution that gives states and their providers access to leading-edge technology aimed at cutting costs, increasing access to information, reducing implementation risk and improving provider satisfaction. Colorado, choosing HP's most current version of interChange, will be the 15th state to implement the interChange platform, which has been implemented and federally certified in 13 states over the past decade. A 14th interChange solution is being implemented in another state.

The Colorado Department of Health Care Policy and Financing is responsible for overseeing Medicaid and Child Health Plan PLUS benefits, and processes about 44 million claims for approximately 39,000 providers who serve more than 950,000 clients

"Colorado interChange will support our Accountable Care Collaborative program, a growing number of clients and social service organizations, and the shift to outcome-focused care while also helping us prepare for federal reform," said Chris Underwood, deputy director, Finance Office, Colorado Department of Health Care Policy and Financing. "HP has proven its deep MMIS knowledge and experience in other states, and we expect the new Colorado interChange system will help us deliver the best possible care in the most cost-effective way."

The Colorado interChange MMIS will give the state the ability to adjust quickly to state and federal policy changes while processing daily medical and dental claims for the state's Medicaid clients. Healthcare providers will be able to receive real-time claims adjudication and resolution via a secure provider website, and Medicaid clients will be able to access their information to make healthcare decisions via a secure client website. The state will use HP provider services including call center and technical helpdesk services.

In support of the Colorado Registration and Attestation System, HP also will implement its award-winning Medical Assistance Provider Incentive Repository (MAPIR) tool to help track incentive payments for meaningful use of electronic health record technologies.

"In this era of healthcare reform, Medicaid agencies must tackle quickly evolving regulatory requirements, stretch budget dollars even further and address the shift to consumer empowerment -- all while driving higher quality outcomes," said Susan Arthur, vice president, U.S. Health and Life Sciences Industry, HP Enterprise Services. "The HP interChange Healthcare Platform is designed to enable a smooth transition to a CMS-certified system that will allow Colorado to maintain fiscal responsibility while continuing to provide for those in need."

HP is the nation's largest provider of Medicaid and Medicare process management services, administering $140 billion in benefits a year. It serves as the fiscal agent or principal IT provider for Medicaid in 19 states. HP's U.S. healthcare experience spans payer, government and life science communities.

About HP
HP creates new possibilities for technology to have a meaningful impact on people, businesses, governments and society. With the broadest technology portfolio spanning printing, personal systems, software, services and IT infrastructure, HP delivers solutions for customers' most complex challenges in every region of the world. More information about HP is available at http://www.hp.com.

This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to statements of the plans, strategies and objectives of management for future operations; any statements concerning expected development, performance, market share or competitive performance relating to products and services; any statements regarding anticipated operational and financial results; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the need to address the many challenges facing HP's businesses; the competitive pressures faced by HP's businesses; risks associated with executing HP's strategy and plans for future operations; the impact of macroeconomic and geopolitical trends and events; the need to manage third-party suppliers and the distribution of HP's products and services effectively; the protection of HP's intellectual property assets, including intellectual property licensed from third parties; risks associated with HP's international operations; the development and transition of new products and services and the enhancement of existing products and services to meet customer needs and respond to emerging technological trends; the execution and performance of contracts by HP and its suppliers, customers, clients and partners; the hiring and retention of key employees; integration and other risks associated with business combination and investment transactions; the execution, timing and results of restructuring plans, including estimates and assumptions related to the cost and the anticipated benefits of implementing those plans; the resolution of pending investigations, claims and disputes; and other risks that are described in HP's Annual Report on Form 10-K for the fiscal year ended October 31, 2013, and that are otherwise described or updated from time to time in HP's Securities and Exchange Commission reports. HP assumes no obligation and does not intend to update these forward-looking statements.

© 2014 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. The only warranties for HP products and services are set forth in the express warranty statements accompanying such products and services. Nothing herein should be construed as constituting an additional warranty. HP shall not be liable for technical or editorial errors or omissions contained herein.

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