CARMEL, Ind. ,
Jan. 2,
2024 /PRNewswire/ -- Syra Health Corp. (NASDAQ: SYRA)
("Syra Health" or the "Company"), a healthcare technology company
with a mission to improve healthcare by providing innovative
services and technology solutions, is excited to summarize its
significant accomplishments and the introduction of its innovative
solutions across the Company's six business units.
Within its Behavioral and Mental Health Business Unit, Syra
Health:
- Launched Syrenity, the Company's flagship mental and
behavioral product, focused on preventing mental health crises.
Syrenity is evidence-based and AI-backed, offering continual
monitoring and cognitive therapy interventions. Syrenity also
integrates with telehealth, allowing for easy access to licensed
mental health professionals when treatment is necessary.
- Entered into a strategic agreement with E&I
Cooperative Services (E&I) which extended Syrenity's reach to
over 6,000 colleges and universities nationwide, that make up
E&I's membership.
- Secured a five-year, $4.75
million contract with the District
of Columbia's Department of Behavioral Health, to support
vital mental health programs in communities.
- Entered into a one-year agreement with the County of Camden
Psychological Screening and Evaluation Services to provide mental
health screening and evaluations to Camden County, New Jersey law enforcement
personnel.
- Received a contract from the Mississippi Department of Human
Services (MDHS) to provide behavioral and mental health services to
the Oakley Youth Development Center and other locations as directed
by MDHS.
Across its Digital Health Business Unit, Syra Health:
- Launched CarePlus, an easy-to-use, secure, and scalable
electronic medical record (EMR) system for small and mid-sized
healthcare organizations. CarePlus is affordable and accessible by
simplifying clinical workflows, integrating labs, radiology, and
telehealth.
- Unveiled SyraBot, a digital health product that uses
human-centric AI to deliver conversational and immediate responses
to inquiries made through any healthcare organization's website.
SyraBot provides real-time access to information users need,
twenty-four hours a day, seven days a week in up to 200
languages.
As part of its Population Health Business Unit, Syra
Health:
- Received a two-year contract extension, worth up to
$636,000 with the Indiana Division of
Mental Health and Addiction and Family and Social Services
Administration, to chair and manage the State of Indiana's Epidemiological Outcomes
Workgroup.
- Secured a five-year contract worth $275,000 with the City
of San Antonio to evaluate its Racial and Ethnic Approaches
to Community Health (REACH) Healthy Neighborhoods Project.
Across its Health Education Business Unit, Syra
Health:
- Entered into a new strategic agreement with the Maricopa
County Department of Public Health in Arizona where Syra Health experts trained over
100 public health staff on best practices for implementing health
equity.
As part of its Healthcare Workforce Business Unit, Syra
Health:
- Won a contract with Osawatomie State Hospital and Adair
Acute Care in Kansas, to deploy
licensed healthcare professionals to deliver vital social and
therapy services.
- Secured contracts across Oklahoma, Virginia, and Alabama to deliver healthcare staffing
solutions to correctional facilities.
- Provides on-demand temporary medical personnel, including
nurses and nurses' aides, for two veteran homes in Ohio and one in Indiana.
- Delivers direct care staffing for the Department of Health and
Human Resources Purchasing Division in the state of West Virginia.
- Expanded its Healthcare Workforce Solutions to include a new
technology platform for employers and those seeking new positions,
plus engagement and concierge services.
Syra Health Announced its Expansion into Federal Government
Contracts, making Federal Government Solutions the Company's Sixth
Business Unit:
- Syra Health expanded its reach beyond state and local
governments to include supplying its products and services to the
federal government.
Milestones:
- On September 29, 2023, Syra
Health became a publicly traded company on the Nasdaq, under the
ticker symbol "SYRA.
- In October 2023, Syra Health successfully closed on
$6.7 million in IPO financing.
- Syra Health's third-quarter revenue increased by 4%.
Importantly, the Company saw a significant rise in gross
profit margins from 27.3% to 35.1% versus the same period the year
prior.
"2023 was a transformative year for Syra Health," said Dr.
Deepika Vuppalanchi, CEO,
Syra Health. "We are incredibly
proud of our team's commitment which has enabled us to secure new
contracts and launch innovative products. As we step into the new
year, we are driven by a profound commitment to continue addressing
the most significant healthcare challenges and to improving
healthcare for all."
Looking Ahead:
"Throughout 2024, we will remain laser-focused on our commitment
to delivering our solutions to the audiences we serve," said
Sandeep Allam, Executive Chairman
and President, Syra Health. "We look
forward to serving our current contracts across the 15 states we
are currently working in and on securing new contracts in new
geographies."
ABOUT SYRA HEALTH
Syra Health is a healthcare technology company addressing some
of healthcare's most significant challenges in areas such as
behavioral and mental health, digital health, and population
health, by providing innovative services and technology solutions.
Syra Health's products and services are centered on prevention,
improved access, and affordable care. Syra Health supplies its
solutions to payers, providers, life sciences organizations,
academic institutions, and the government. For more information,
please visit www.syrahealth.com.
Forward-Looking Statements
Statements in this press release about future expectations,
plans, and prospects, as well as any other statements regarding
matters that are not historical facts, may constitute
"forward-looking statements." These statements include, but are not
limited to, statements relating to the expected use of proceeds,
the Company's operations and business strategy and the Company's
expected financial results. The words "anticipate," "believe,"
"continue," "could," "estimate," "expect," "intend," "may," "plan,"
"potential," "predict," "project," "should," "target," "will,"
"would" and similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain these identifying words. The forward-looking
statements contained in this press release are based on
management's current expectations and are subject to substantial
risks, uncertainty and changes in circumstances. Investors should
read the risk factors set forth in our registration statement on
Form S-1 and other periodic reports filed with the Securities and
Exchange Commission. Any forward-looking statements contained in
this press release speak only as of the date hereof, and, except as
required by federal securities laws, the Company specifically
disclaims any obligation to update any forward-looking statements,
whether as a result of new information, future events, or
otherwise.
For more information, please contact:
For Media Inquiries:
Syra Health
Communications & Marketing Director
Christine Drury
463-345-5180
christined@syrahealth.com
For Investor Inquiries:
Ben
Shamsian
Vice President
Lytham Partners, LLC
646-829-9701
shamsian@lythampartners.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/syra-health-wraps-up-a-successful-2023-including-new-contracts-contract-extensions-and-the-introduction-of-new-healthcare-innovations-302024518.html
SOURCE Syra Health