Syra Health Secures Nursing Contract with North Carolina Department of Public Safety

Rhea-AI Summary

Syra Health has secured a contract with the North Carolina Department of Public Safety to provide nursing services across Youth Development Centers and Juvenile Detention Centers. Effective for one year with two additional one-year renewal options, the contract involves supplying registered nurses, licensed practical nurses, medical technicians, and certified nursing assistants. Revenue will depend on both the number of positions filled and the duration. The healthcare staff will be responsible for medical screenings, developing healthcare plans, and providing interventions for youth in custody. CEO Dr. Deepika Vuppalanchi emphasizes commitment to delivering high-quality care.

Positive

• Secured a new contract with North Carolina Department of Public Safety.
• Contract duration of one year with two additional one-year renewal options.
• Provision of a range of healthcare professionals: registered nurses, licensed practical nurses, medical technicians, and certified nursing assistants.
• Revenue potential depends on the number of positions filled and duration.
• Syra Health's expansion into governmental contracts highlights growth potential.

Negative

• Revenue depends on variable factors such as the number of positions filled and duration, leading to potential revenue uncertainty.
• Short initial contract duration of one year before renewal options.

CARMEL, Ind., June 12, 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 it has been awarded a contract with the North Carolina Department of Public Safety, Division of Juvenile Justice and Delinquency Prevention to provide statewide nursing services. The contract is effective for one year, with two additional one-year renewal options.

Under the contract, Syra Health will supply temporary nursing staff to Youth Development Centers and Juvenile Detention Centers across North Carolina. The roles include registered nurses, licensed practical nurses, medical technicians, and certified nursing assistants to provide for the medical needs of youth in the custody of the Department of Public Safety. The revenue generated by the contract is based on both the number of positions to be filled and the duration of each.

The Syra Health-provided clinical healthcare staff will be responsible for screening and evaluating youth upon admission, developing healthcare plans, and providing appropriate interventions.

"We are honored to work with government agencies to provide essential healthcare services," said Dr. Deepika Vuppalanchi, CEO, Syra Health. "Our team is committed to delivering the highest quality of care and support across the nation."

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

View original content to download multimedia:https://www.prnewswire.com/news-releases/syra-health-secures-nursing-contract-with-north-carolina-department-of-public-safety-302170211.html

SOURCE Syra Health

FAQ

What is the recent contract secured by Syra Health in June 2024?

Syra Health secured a contract with the North Carolina Department of Public Safety to provide nursing services across Youth Development Centers and Juvenile Detention Centers.

How long is the contract between Syra Health and North Carolina Department of Public Safety?

The contract is effective for one year with two additional one-year renewal options.

What roles will Syra Health supply under the new contract?

Syra Health will supply registered nurses, licensed practical nurses, medical technicians, and certified nursing assistants.

What tasks will Syra Health's staff perform under the new contract?

The staff will be responsible for medical screenings, developing healthcare plans, and providing interventions for youth in custody.

What factors determine the revenue generated by Syra Health's new contract?

Revenue is based on the number of positions filled and the duration of each position.