VA Healthcare & Services Contracts — October 15, 2026

The firm fixed price delivery order runs 2025-01-01 through 2026-12-31 with a potential end of 2029-12-31, and the $17.2M gap between obligation and the $27,472,809 base-plus-options value depends on option exercise. Outlays are reported at $0, so execution is unconfirmed.

The largest award in the stream is a one-year firm fixed price order (2021-10-01 to 2022-09-30) at 99.7% outlayed, and the data shows no options or successor award. Revenue visibility from this contract is effectively gone unless a recompete appears.

MSK Construction Inc's $11,219,803 award dates to 2017 and Spees-Hernandez JV 2's $12,175,789 to 2022, yet both show $0 outlayed, suggesting reporting lags, stalled work, or incomplete data. Execution risk cannot be assessed from this stream.

Cykor LLC's firm fixed price SDVOSB set-aside delivery order obligates $11,169,553 against a $42,168,495 base-plus-options value running potentially to 2031-06-04. Option exercise would multiply the contract value nearly fourfold.

The VISN 5 video surveillance and access control delivery order runs to a potential 2031-04-21 end date, with about $2.8M of unobligated option value. Coded NAICS 541519 but PSC N063, so scope is installation-heavy.

Most of the stream's $256.8M flows to SDVOSB, Subchapter S, and LLC recipients with no tickers or disclosed public parents, including Blue Cord, ECKO JV, MDM Construction, and Ironclad Services. These awards are not directly investable for public-equity holders.

Outlays are $0 on 12 of 13 contracts, including awards from 2017 (MSK Construction) and 2022 (Spees-Hernandez JV 2), so the stream shows no confirmed revenue recognition despite older award dates.

The data contains no multi-year VA budget or appropriations information, so no trend can be established for facility construction spending that drives most of these awards.

Set-aside structures restrict competition to SDVOSB and small firms on most awards, which protects those awards but also limits the public-company contractors able to win similar work.

The VA awards are dispersed across more than 12 private recipients, but the heavy weighting of the single $93M award in the stream means the aggregate figure overstates the ongoing run-rate.

Multiple SDVOSB set-aside awards (Blue Cord, CYKOR, Ironclad, ECKO JV) indicate sustained VA preference for veteran-owned contractors, which could support continued small-firm wins if those firms are later acquired by listed companies.

Siemens Medical Solutions' imaging maintenance order has $17.2M of unexercised option value, a recurring service revenue stream tied to an existing VA installed base.

Cykor LLC's $42,168,495 base-plus-options ceiling offers substantial upside if the Veteran Community Care provider directory work is extended.

Most awards are construction, renovation, or maintenance of VA hospitals and outpatient clinics under NAICS 236220 and PSC Z1DA/Y1DA/Z2DA codes. This points to continued VA investment in physical infrastructure across multiple regions.

Siemens' imaging maintenance order and Veteran Information Technologies' security integration order show VA demand for sustaining medical and physical-security systems rather than new technology development.

{"entity" => "Siemens Medical Solutions USA / Altair Engineering Inc.", "reason" => "Only public-company link in the stream: $10,305,162 obligated against a $27,472,809 base-plus-options value, with $0 outlayed.", "trigger" => "Option exercise and first outlays ahead of the 2026-12-31 current end date"}

{"entity" => "Veterans Evaluation Services, Inc.", "reason" => "Largest award in the stream ($93,168,612) has no visible successor after the 2022-09-30 end.", "trigger" => "Any Region 4 medical disability examination recompete or follow-on solicitation"}

{"entity" => "VA facility construction (SDVOSB contractors)", "reason" => "Repeated VA construction awards across 2025-2026 signal sustained facility spending, but most recipients are private.", "trigger" => "FY2027 VA appropriations and any continuing resolution affecting October-December 2026 award starts"}