Syra Health Wins Awards for Providing Board Certified Behavioral Analysts in Two States

Rhea-AI Summary

Syra Health announced it has secured contracts for Board Certified Behavioral Analysts (BCBAs) in Arizona and New York, marking a total presence in 22 states. The contracts with Putnam/Northern Westchester Board of Cooperative Education Services (PNWBOCES) in New York and Little Rock School District in Arkansas are for one year, with the possibility of up to four one-year renewals for the PNWBOCES agreement. These agreements reinforce Syra Health's commitment to addressing behavioral health issues in educational settings. CEO Dr. Deepika Vuppalanchi highlighted the company's rapid growth and dedication to improving mental health in schools.

Positive

• Secured contracts in Arizona and New York, expanding presence to 22 states.
• Contracts for BCBAs are focused on addressing behavioral health issues in schools.
• The PNWBOCES agreement includes an option for up to four one-year renewals.
• Demonstrates strong growth and expansion in mental health services across multiple states.

Negative

• One-year contract length may indicate potential uncertainty in long-term revenue.
• Dependence on renewals for sustained business from the PNWBOCES agreement.

Arizona and New York mark the 21^st and 22^nd states where Syra has active agreements

CARMEL, Ind., June 6, 2024 /PRNewswire/ -- Syra Health Corp. (NASDAQ: SYRA) ("Syra Health" or the "Company"), a healthcare technology company powering better health by providing meaningful solutions, announced today that it has received awards for staffing Board Certified Behavioral Analysts from the Putnam/Northern Westchester Board of Cooperative Education Services (PNWBOCES) in New York and the Little Rock School District in Arkansas. Both awards are one year in length with the PNWBOCES agreement having an option of up to four one-year renewals.

Board Certified Behavioral Analysts are healthcare providers who study behavior patterns and develop individualized treatment plans that address behavioral health issues. These wins underscore Syra Health's commitment to helping alleviate the mental and behavioral health burden carried by students.

"We are proud to be winning contracts at such a rapid pace. Every state we work in and department we collaborate with, empowers us to make tangible differences in the lives of people dealing with mental health struggles and bolsters our commitment to the space," said Dr. Deepika Vuppalanchi, CEO, Syra Health. "Expanding our business across twenty-two states is indicative of our relentless pursuit of growth, innovation, and excellence."

The PNWBOCES is a regional education agency that supports local school districts by offering quality, cost-effective services and programs.

ABOUT SYRA HEALTH

Syra Health is a healthcare technology company that is powering better health in challenging areas such as behavioral and mental health, digital health, and population health, by providing innovative and meaningful solutions. Syra Health's offerings are centered on prevention, improved access, and affordable care. Syra Health serves everyone working in healthcare. For more information, 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.

For more information, please contact:

For Media Inquiries:
Christine Drury
Communications and Marketing Director
Syra Health
463-345-5180
christined@syrahealth.com

For Investor Inquiries:
Ben Shamsian
Vice President
Lytham Partners, LLC
646-829-9701
shamsian@lythampartners.com

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SOURCE Syra Health

FAQ

What recent contracts has Syra Health secured for Board Certified Behavioral Analysts?

Syra Health has secured contracts in New York with PNWBOCES and in Arkansas with the Little Rock School District.

How many states does Syra Health operate in as of June 2024?

Syra Health operates in 22 states as of June 2024.

What is the duration of the new contracts won by Syra Health?

The new contracts are for one year, with an option for up to four one-year renewals for the PNWBOCES agreement.

What is the stock symbol for Syra Health?

The stock symbol for Syra Health is SYRA.

What services does Syra Health provide with these new contracts?

Syra Health provides Board Certified Behavioral Analysts to address behavioral health issues in schools.