Syra Health Wins New Workforce Contract, Announces Existing Contract Extension
Syra Health (NASDAQ: SYRA) has secured two significant contracts: a new healthcare workforce contract with the Washington D.C. government valued at up to $1 million, and a $1.2 million extension to an existing contract with Indiana's NeuroDiagnostic Institute, bringing its total value to $18.7 million.
The D.C. contract, awarded on behalf of the Office of the State Superintendent of Education, involves deploying registered nurses, licensed practical nurses, and certified nursing assistants to provide healthcare services to students. This one-year agreement includes extension options and requires developing individualized service plans for students.
The expanded Indiana contract continues Syra Health's support in providing healthcare professionals to evaluate and treat patients with complex neuropsychiatric illnesses at the NeuroDiagnostic Institute. This marks Syra Health's fourth contract with the D.C. government, building on their partnership with the NeuroDiagnostic Institute that began in 2021.
Syra Health (NASDAQ: SYRA) ha ottenuto due contratti significativi: un nuovo contratto per la forza lavoro nel settore sanitario con il governo di Washington D.C. del valore massimo di $1 milione, e un'estensione di $1,2 milioni a un contratto esistente con l'Istituto Neurodiagnostico dell'Indiana, portando il valore totale a $18,7 milioni.
Il contratto con D.C., assegnato per conto dell'Ufficio del Sovrintendente Statale per l'Istruzione, prevede il dispiegamento di infermieri registrati, infermieri pratici autorizzati e assistenti infermieristici certificati per fornire servizi sanitari agli studenti. Questo accordo di un anno include opzioni di estensione e richiede lo sviluppo di piani di servizio individualizzati per gli studenti.
Il contratto espanso dell'Indiana continua a supportare Syra Health nel fornire professionisti sanitari per valutare e trattare pazienti con malattie neuropsichiatriche complesse presso l'Istituto Neurodiagnostico. Questo segna il quarto contratto di Syra Health con il governo di D.C., ampliando la loro collaborazione con l'Istituto Neurodiagnostico iniziata nel 2021.
Syra Health (NASDAQ: SYRA) ha conseguido dos contratos significativos: un nuevo contrato de fuerza laboral en salud con el gobierno de Washington D.C. valorado en hasta $1 millón, y una extensión de $1.2 millones a un contrato existente con el Instituto Neurodiagnóstico de Indiana, elevando su valor total a $18.7 millones.
El contrato de D.C., adjudicado en nombre de la Oficina del Superintendente Estatal de Educación, implica el despliegue de enfermeras registradas, enfermeras prácticas con licencia y asistentes de enfermería certificados para brindar servicios de salud a los estudiantes. Este acuerdo de un año incluye opciones de extensión y requiere el desarrollo de planes de servicio individualizados para los estudiantes.
El contrato ampliado de Indiana continúa el apoyo de Syra Health en la provisión de profesionales de salud para evaluar y tratar a pacientes con enfermedades neuropsiquiátricas complejas en el Instituto Neurodiagnóstico. Este es el cuarto contrato de Syra Health con el gobierno de D.C., fortaleciendo su asociación con el Instituto Neurodiagnóstico que comenzó en 2021.
Syra Health (NASDAQ: SYRA)는 두 개의 중요한 계약을 체결했습니다. 하나는 워싱턴 D.C. 정부와 최대 100만 달러 규모의 새로운 의료 인력 계약이며, 다른 하나는 인디애나의 신경진단 연구소와 기존 계약을 120만 달러로 연장하여 총 계약 규모를 1870만 달러로 늘렸습니다.
D.C. 계약은 주 교육감 사무실을 대신해 수여된 것으로, 등록된 간호사, 면허가 있는 실습 간호사 및 인증된 간호 보조인을 배치하여 학생들에게 의료 서비스를 제공하는 내용을 포함하고 있습니다. 이 1년 계약은 연장 옵션이 포함되어 있으며 학생들을 위한 개별 서비스 계획을 개발하는 것을 요구합니다.
확장된 인디애나 계약은 신경진단 연구소에서 복잡한 신경정신 질환을 가진 환자를 평가하고 치료하기 위해 의료 전문가를 제공하는 Syra Health의 지원을 계속합니다. 이는 Syra Health의 D.C. 정부와의 네 번째 계약으로, 2021년에 시작된 신경진단 연구소와의 파트너십을 바탕으로 하고 있습니다.
Syra Health (NASDAQ: SYRA) a obtenu deux contrats importants : un nouveau contrat pour la main-d'œuvre en santé avec le gouvernement de Washington D.C. d'une valeur pouvant atteindre 1 million de dollars, et une extension de 1,2 million de dollars à un contrat existant avec l'Institut Neurodiagnostique de l'Indiana, portant la valeur totale à 18,7 millions de dollars.
Le contrat avec D.C., attribué au nom du Bureau du Superintendant d'État à l'Éducation, implique le déploiement d'infirmières diplômées, d'infirmières pratiques agréées et d'assistants de soins infirmiers certifiés pour fournir des services de santé aux étudiants. Cet accord d'un an comprend des options d'extension et nécessite l'élaboration de plans de services individualisés pour les étudiants.
Le contrat élargi de l'Indiana continue de soutenir Syra Health dans la fourniture de professionnels de santé pour évaluer et traiter des patients souffrant de maladies neuropsychiatriques complexes à l'Institut Neurodiagnostique. Cela représente le quatrième contrat de Syra Health avec le gouvernement de D.C., renforçant leur partenariat avec l'Institut Neurodiagnostique qui a commencé en 2021.
Syra Health (NASDAQ: SYRA) hat zwei bedeutende Verträge gesichert: einen neuen Vertrag für die Gesundheitsfachkräfte mit der Regierung von Washington D.C. im Wert von bis zu 1 Million Dollar und eine 1,2 Millionen Dollar Erweiterung eines bestehenden Vertrags mit dem Neurodiagnostischen Institut von Indiana, was den Gesamtwert auf 18,7 Millionen Dollar erhöht.
Der D.C.-Vertrag, der im Auftrag des Büros des staatlichen Schulaufsichtsbeamten vergeben wurde, umfasst die Bereitstellung von registrierten Krankenschwestern, lizenzierten praktischen Krankenschwestern und zertifizierten Pflegeassistenten, um Gesundheitsdienste für Schüler bereitzustellen. Diese einjährige Vereinbarung umfasst Verlängerungsoptionen und erfordert die Entwicklung individueller Dienstleistungspläne für die Schüler.
Der erweiterte Vertrag von Indiana setzt die Unterstützung von Syra Health bei der Bereitstellung medizinischer Fachkräfte zur Bewertung und Behandlung von Patienten mit komplexen neuropsychiatrischen Erkrankungen am Neurodiagnostischen Institut fort. Dies ist der vierte Vertrag von Syra Health mit der Regierung von D.C. und baut auf ihrer Partnerschaft mit dem Neurodiagnostischen Institut auf, die 2021 begann.
- Secured new contract worth up to $1M with Washington D.C. government
- Existing contract with Indiana increased by $1.2M to total $18.7M
- Fourth contract secured with Washington D.C. government, showing strong client relationship
- Contract includes potential extensions, indicating growth opportunities
- None.
Insights
The dual contract announcements represent a total value increase of $2.2 million for Syra Health, with significant strategic implications. The new
The D.C. contract's focus on student healthcare services aligns with growing demand for school-based health services, a market segment experiencing rapid expansion due to increased awareness of student health needs. The contract's extension options provide recurring revenue potential and stability. The Indiana contract extension, bringing the total to
These developments indicate Syra Health's successful execution of a dual-market strategy: expanding geographical presence while deepening existing relationships. The company's ability to secure multiple contracts with the D.C. government suggests strong competitive positioning in the public sector healthcare services market.
The contract wins are particularly significant given Syra Health's current market capitalization. The
The nature of these contracts - government-backed healthcare staffing services - provides revenue visibility and reduced collection risk. The D.C. contract's structure, with extension options, creates potential for long-term revenue streams. The expansion of the Indiana contract from an existing relationship demonstrates the company's ability to grow accounts, a important factor for sustainable business growth.
Syra Health will deploy registered nurses, licensed practical nurses, and certified nursing assistants to deliver healthcare services to students as part of
In addition to this new contract, Syra Health continues to expand its support for the Indiana Family and Social Services Administration's NeuroDiagnostic Institute. Syra Health provides healthcare professionals to the Institute to evaluate and treat patients with complex neuropsychiatric illnesses.
"These contracts highlight our deep commitment to driving better health outcomes," said Dr. Deepika Vuppalanchi, CEO of Syra Health. "By providing tailored services that alleviate staffing shortages and ensure continuity of care, we are not only addressing immediate healthcare needs but also supporting long-term solutions. This marks our fourth contract with the
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.
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 Investor or Media Inquiries:
Christine Drury
IR/PR
Syra Health
463-345-5180
christined@syrahealth.com
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