Mar 24, 2020   SOURCE: BusinessWire

The GEO Group Announces Five-Year Contract With U.S. Immigration and Customs Enforcement for Intensive Supervision and Appearance Program (ISAP)

The GEO Group (NYSE:GEO) (“GEO”) announced today that its wholly-owned subsidiary, BI Incorporated has signed a contract with U.S. Immigration and Customs Enforcement for the continued provision of case management and supervision services under the federal government’s Intensive Supervision and Appearance Program (“ISAP”). The contract will have a term of five years, effective April 1, 2020 and is expected to serve 90,000 to 100,000 participants daily, consistent with the average number of daily participants during the past year.

“We are grateful for the opportunity to continue to partner with the federal government to provide compassionate care, dignity and respect for program participants. For more than 15 years, BI Incorporated has developed a successful public-private partnership with ICE for the provision of high-quality case management and community supervision services. We remain committed to delivering operational excellence daily under this important program, and we look forward to building on our long-standing partnership,” said George C. Zoley, Chairman of the Board and Chief Executive Officer of GEO.

GEO has had a long-standing private-public partnership with the federal government that dates back to the 1980s. GEO’s facilities and services are highly rated and provide high-quality, culturally responsive services to individuals in the care of federal immigration authorities. ISAP is the core component of the U.S. Department of Homeland Security’s Alternatives to Detention program and provides individualized case management and supervision services for adults going through immigration review proceedings. BI Incorporated has provided case management and supervision services under ISAP since 2004.

The GEO Group (NYSE: GEO) is the first fully integrated equity real estate investment trust specializing in the design, financing, development, and operation of secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO is a leading provider of enhanced in-custody rehabilitation, post-release support, electronic monitoring, and community-based programs. GEO’s worldwide operations include the ownership and/or management of 129 facilities totaling approximately 95,000 beds, including projects under development, with a growing workforce of approximately 23,000 professionals.

This press release contains forward-looking statements regarding future events and the future performance of GEO that involve risks and uncertainties that could materially affect actual results. Factors that could cause actual results to vary from current expectations and forward-looking statements contained in this press release include, but are not limited to: (1) GEO’s ability to provide case management and community supervision services under the ISAP program; (2) GEO’s ability to estimate the number of daily participants under the ISAP program; (3) GEO’s ability to successfully pursue further growth and continue to enhance shareholder value; (4) GEO’s ability to control operating costs associated with contract start-ups; (5) GEO’s ability to timely open facilities as planned, profitably manage such facilities and successfully integrate such facilities into GEO’s operations without substantial costs; (6) GEO’s ability to retain the contract through its expiration; (7) GEO’s ability to sustain company-wide occupancy rates at its facilities; and (8) other factors contained in GEO’s Securities and Exchange Commission filings, including its Form 10-K, 10-Q and 8-K reports.