Syra Health Continues to Secure Healthcare Training Contracts

Rhea-AI Summary

Syra Health (NASDAQ: SYRA) has secured a new $135,000, six-month contract with a Midwest university to develop behavioral health virtual training modules. The company will create up to 60-minute interactive modules focused on prevention, working alongside university committees and subject matter experts.

Additionally, Syra Health has begun implementing training for healthcare professionals in home and community-based settings through its contract with Indiana's Division of Disability and Rehabilitative Services. The combined value of these training agreements reaches $4.9 million over four years, with both contracts including two optional one-year renewals.

Positive

• New $135,000 contract secured with Midwest university
• Combined training agreements valued at $4.9 million over 4 years
• Both contracts include potential extensions through two one-year renewals
• Implementation phase begun for Indiana FSSA contract

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• None.

CARMEL, Ind., Feb. 13, 2025 /PRNewswire/ -- Syra Health Corp. (Nasdaq: SYRA), a healthcare technology company powering better health by providing meaningful solutions, announced today that it has been awarded a six-month, $135,000 contract with a Midwest-based university to develop prevention-focused virtual training modules in behavioral health.

Syra Health will collaborate with the university, its advisory committees, and subject matter experts to develop and implement the behavioral health training modules. The content will equip professionals with the skills necessary to address behavioral health challenges, supporting various university programs and initiatives. Each module will feature up to 60 minutes of interactive, accessible, and inclusive content.

The company has also started the implementation phase of training for healthcare professionals in home and community-based settings, following its previously announced selection to negotiate a contract with the Division of Disability and Rehabilitative Services of the Indiana Family and Social Services Administration.

"Investing in training is investing in the people who are essential to the future of healthcare," said Dr. Deepika Vuppalanchi, CEO of Syra Health. "By delivering evidence-based training, we are empowering healthcare professionals to create meaningful change."

The total ceiling value of the combined training agreements is $4.9 million over the next four years. In addition, the university contract includes two optional one-year renewals, and the Indiana FSSA training contract includes two optional one-year renewals.

ABOUT SYRA HEALTH
Syra Health is a healthcare technology company powering better health in critical areas such as mental health, population health, and the healthcare workforce. The company's leading-edge technology and innovative services focus on prevention, access, and affordability. With a commitment to improving health, Syra Health is advancing healthcare solutions nationwide and around the world. 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 Form 10-K for the year ended December 31, 2023, 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.

Contact
For Investor or Media Inquiries
Christine Drury
IR/PR
Syra Health
463-345-5180
christined@syrahealth.com 

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SOURCE Syra Health

FAQ

What is the value of Syra Health's (SYRA) new university contract in 2024?

Syra Health's new contract with a Midwest university is valued at $135,000 for a six-month period.

What is the total value of SYRA's combined training contracts?

The combined training agreements have a total ceiling value of $4.9 million over the next four years.

What type of training modules will Syra Health (SYRA) develop for the university?

Syra Health will develop prevention-focused virtual training modules in behavioral health, featuring up to 60 minutes of interactive, accessible, and inclusive content.

How long are the extension options for SYRA's new training contracts?

Both the university contract and the Indiana FSSA training contract include two optional one-year renewals.

What is the duration of Syra Health's (SYRA) new university contract?

The initial contract with the Midwest university is for a six-month period.