Syra Health Secures Population Health Contract Extension in Shelby County, Tennessee
Syra Health Corp. (NASDAQ: SYRA) has secured a $450,000 contract extension with the Shelby County Health Department in Tennessee. This one-year extension allows Syra Health's team of epidemiologists and biostatisticians to continue their work identifying disease trends and assessing economic impacts, as initially announced in February 2024.
The project involves data analytics and the development of a public-facing dashboard providing real-time insights. With an additional one-year renewal option in 2026, the total potential contract value reaches $1.3 million over three years.
This extension represents growth in Syra Health's Population Health business unit, which the company identifies as a key driver of revenue growth. The contract aligns with Syra's strategy to diversify revenue streams across higher-margin business units. According to Dr. Deepika Vuppalanchi, Chair and CEO, the positive demand for their population health solutions demonstrates their ability to improve health outcomes while focusing on long-term revenue growth and value creation.
Syra Health Corp. (NASDAQ: SYRA) ha ottenuto un contratto di estensione di $450,000 con il Dipartimento della Salute della Contea di Shelby in Tennessee. Questa estensione di un anno consente al team di epidemiologi e biostatistici di Syra Health di continuare il loro lavoro nell'identificazione delle tendenze delle malattie e nella valutazione degli impatti economici, come annunciato inizialmente a febbraio 2024.
Il progetto prevede analisi dei dati e lo sviluppo di un dashboard pubblico che fornisce informazioni in tempo reale. Con un'opzione di rinnovo aggiuntiva di un anno nel 2026, il valore totale potenziale del contratto raggiunge $1.3 milioni nel corso di tre anni.
Questa estensione rappresenta una crescita nell'unità di business Salute della Popolazione di Syra Health, che l'azienda identifica come un motore chiave della crescita dei ricavi. Il contratto è in linea con la strategia di Syra di diversificare le fonti di reddito attraverso unità di business a margine più elevato. Secondo il Dr. Deepika Vuppalanchi, Presidente e CEO, la domanda positiva per le loro soluzioni di salute della popolazione dimostra la loro capacità di migliorare i risultati sanitari, concentrandosi al contempo sulla crescita dei ricavi a lungo termine e sulla creazione di valore.
Syra Health Corp. (NASDAQ: SYRA) ha conseguido una extensión de contrato de $450,000 con el Departamento de Salud del Condado de Shelby en Tennessee. Esta extensión de un año permite que el equipo de epidemiólogos y bioestadísticos de Syra Health continúe su trabajo de identificación de tendencias de enfermedades y evaluación de impactos económicos, como se anunció inicialmente en febrero de 2024.
El proyecto involucra análisis de datos y el desarrollo de un panel público que proporciona información en tiempo real. Con una opción de renovación adicional de un año en 2026, el valor total potencial del contrato alcanza los $1.3 millones en tres años.
Esta extensión representa un crecimiento en la unidad de negocio de Salud de la Población de Syra Health, que la empresa identifica como un motor clave para el crecimiento de ingresos. El contrato se alinea con la estrategia de Syra de diversificar las fuentes de ingresos a través de unidades de negocio de mayor margen. Según la Dra. Deepika Vuppalanchi, Presidenta y CEO, la demanda positiva por sus soluciones de salud de la población demuestra su capacidad para mejorar los resultados de salud mientras se enfocan en el crecimiento de ingresos a largo plazo y la creación de valor.
Syra Health Corp. (NASDAQ: SYRA)는 테네시주 셸비 카운티 보건부와 $450,000 계약 연장을 체결했습니다. 이 1년 연장은 Syra Health의 역학자 및 생물통계학자 팀이 질병 동향을 식별하고 경제적 영향을 평가하는 작업을 계속할 수 있게 합니다. 이는 2024년 2월에 처음 발표된 내용입니다.
이 프로젝트는 데이터 분석과 실시간 통찰력을 제공하는 공공 대시보드 개발을 포함합니다. 2026년에 추가 1년 갱신 옵션이 있는 경우, 총 잠재 계약 가치는 3년 동안 $1.3 백만에 달합니다.
이번 연장은 Syra Health의 인구 건강 사업 부문의 성장을 나타내며, 회사는 이를 수익 성장의 주요 동력으로 보고 있습니다. 이 계약은 Syra가 더 높은 마진의 사업 부문에서 수익원을 다양화하려는 전략과 일치합니다. Deepika Vuppalanchi 박사, 의장 겸 CEO에 따르면, 인구 건강 솔루션에 대한 긍정적인 수요는 건강 결과를 개선하면서 장기적인 수익 성장과 가치 창출에 집중할 수 있는 능력을 보여줍니다.
Syra Health Corp. (NASDAQ: SYRA) a obtenu une extension de contrat de 450 000 $ avec le Département de la Santé du comté de Shelby dans le Tennessee. Cette extension d'un an permet à l'équipe d'épidémiologistes et de biostatisticiens de Syra Health de continuer leur travail d'identification des tendances des maladies et d'évaluation des impacts économiques, comme annoncé initialement en février 2024.
Le projet implique l'analyse de données et le développement d'un tableau de bord public fournissant des informations en temps réel. Avec une option de renouvellement supplémentaire d'un an en 2026, la valeur totale potentielle du contrat atteint 1,3 million de dollars sur trois ans.
Cette extension représente une croissance dans l'unité commerciale de la santé de la population de Syra Health, que l'entreprise identifie comme un moteur clé de la croissance des revenus. Le contrat est en adéquation avec la stratégie de Syra de diversifier ses sources de revenus à travers des unités commerciales à plus forte marge. Selon le Dr. Deepika Vuppalanchi, Présidente et CEO, la demande positive pour leurs solutions de santé de la population démontre leur capacité à améliorer les résultats de santé tout en se concentrant sur la croissance des revenus à long terme et la création de valeur.
Syra Health Corp. (NASDAQ: SYRA) hat eine Vertragsverlängerung über $450,000 mit dem Gesundheitsamt des Shelby County in Tennessee gesichert. Diese einjährige Verlängerung ermöglicht es dem Team von Epidemiologen und Biostatistikern von Syra Health, weiterhin an der Identifizierung von Krankheitsmustern und der Bewertung wirtschaftlicher Auswirkungen zu arbeiten, wie ursprünglich im Februar 2024 angekündigt.
Das Projekt umfasst Datenanalysen und die Entwicklung eines öffentlichen Dashboards, das Echtzeiteinblicke bietet. Mit einer zusätzlichen einjährigen Verlängerungsoption im Jahr 2026 erreicht der gesamtpotenzielle Vertragswert $1,3 Millionen über drei Jahre.
Diese Verlängerung stellt ein Wachstum in der Geschäftseinheit Bevölkerungsmedizin von Syra Health dar, die das Unternehmen als einen Schlüsseltreiber für das Umsatzwachstum identifiziert. Der Vertrag steht im Einklang mit Syra's Strategie, die Einnahmequellen über margenstärkere Geschäftseinheiten zu diversifizieren. Laut Dr. Deepika Vuppalanchi, Vorsitzende und CEO, zeigt die positive Nachfrage nach ihren Lösungen im Bereich Bevölkerungsmedizin deren Fähigkeit, die Gesundheitsresultate zu verbessern, während sie sich gleichzeitig auf langfristiges Umsatzwachstum und Wertschöpfung konzentrieren.
- Secured $450,000 contract extension with Shelby County Health Department
- Total potential contract value of $1.3 million over three years
- Extension demonstrates growth in Population Health business unit
- Aligns with strategy to diversify revenue across higher-margin business units
- Positive demand trends for population health solutions
- None.
Insights
Syra Health's $450,000 contract extension with Shelby County represents a meaningful revenue event for this micro-cap healthcare technology company currently valued at just $4.5 million. This extension, combined with a potential additional renewal in 2026, could deliver up to $1.3 million over three years - equivalent to nearly 29% of the company's current market capitalization.
The contract's significance extends beyond its dollar value. Population Health is explicitly identified as a key growth driver and part of Syra's strategy to diversify into higher-margin business units. For a company trading below $0.40 per share, this strategic focus on margin expansion rather than just revenue growth is critical for potential financial stabilization.
This renewal demonstrates two important business dynamics:
- Customer retention - Shelby County's decision to extend indicates satisfaction with Syra's epidemiology and biostatistics services
- Service validation - The public health dashboard and analytics capabilities have proven their value in a real-world setting
However, investors should contextualize this development against Syra's complete financial picture. The extremely low share price suggests ongoing financial challenges despite this positive contract news. While the renewal provides some revenue visibility, government contracts typically have complex payment structures that may not immediately improve cash flow.
The Population Health segment operates in a competitive landscape with larger, well-established players. Syra's ability to retain and expand this contract suggests they've found a defensible niche, but the sustainability of this advantage requires monitoring. The company's success will depend on leveraging this reference client to secure additional contracts while managing operating expenses to improve margins.
This contract extension represents a positive step in Syra's stated diversification strategy, but investors should watch for evidence of broader commercial traction across multiple health departments to confirm the scalability of their business model.
The one-year contract extension enables Syra Health's team of epidemiologists and biostatisticians to continue uncovering disease trends and factors influencing disease while assessing their economic impact, as announced in February 2024. The project includes data analytics and the development of a public-facing dashboard to provide real-time insights and transparency. With an additional one-year renewal option in 2026, the total combined contract value over three years is up to
This contract extension highlights the growth of Syra Health's Population Health business unit, a key driver of the company's revenue growth trajectory. The extension of this Population Health contract is in line with Syra Health's strategy of diversifying revenue streams across higher-margin business units.
"The positive demand trends for our population health solutions showcase our ability to improve health outcomes," said Dr. Deepika Vuppalanchi, chair and CEO of Syra Health. "As we expand our reach, we remain focused on ensuring long-term revenue growth and value creation."
About Syra Health
Syra Health is a healthcare technology company powering better health in critical areas such as behavioral and 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.
Contacts
For Media Inquiries:
Christine Drury
Corporate Communications Director
Syra Health
463-345-5180
christined@syrahealth.com
For Investor Inquiries:
Corbin Woodhull
Managing Director, Global Advisory
Hayden IR
602-476-1821
corbin@haydenir.com
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SOURCE Syra Health
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