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Syra Health Selected for $5.8 Million Indiana Child Mental Health Program

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Syra Health (OTCQB: SYRA) has been selected for contract negotiations to implement Indiana's Child Mental Health Wraparound Access Site. The contract, valued at $5.8 million over three years with a possible one-year extension, involves Syra Health serving as the statewide access point for families and providers navigating Indiana's Child Mental Health Wraparound program.

The company has committed to subcontracting 23.5% of the total contract value to other Indiana-based companies. Revenue recognition is expected later in 2025 after final contract execution. The initiative aims to strengthen care coordination and improve mental health outcomes for children across Indiana, leveraging Syra Health's integrated approach combining public health expertise, data analytics, and mental health support.

Syra Health (OTCQB: SYRA) è stata selezionata per le trattative contrattuali per implementare il Child Mental Health Wraparound Access Site dell'Indiana. Il contratto, del valore di 5,8 milioni di dollari in tre anni con una possibile estensione di un anno, prevede che Syra Health funga da punto di accesso statale per famiglie e operatori coinvolti nel programma Child Mental Health Wraparound dell'Indiana.

L'azienda si è impegnata a subappaltare il 23,5% del valore totale del contratto ad altre aziende con sede in Indiana. Il riconoscimento dei ricavi è previsto per la fine del 2025, dopo la firma definitiva del contratto. L'iniziativa mira a rafforzare il coordinamento delle cure e a migliorare i risultati di salute mentale per i bambini in tutto lo stato, sfruttando l'approccio integrato di Syra Health che combina competenze in sanità pubblica, analisi dei dati e supporto alla salute mentale.

Syra Health (OTCQB: SYRA) ha sido seleccionada para negociar un contrato para implementar el Child Mental Health Wraparound Access Site de Indiana. El contrato, valorado en 5.8 millones de dólares durante tres años con una posible extensión de un año, implica que Syra Health actúe como punto de acceso estatal para familias y proveedores que participan en el programa Child Mental Health Wraparound de Indiana.

La compañía se ha comprometido a subcontratar el 23.5% del valor total del contrato a otras empresas con sede en Indiana. Se espera el reconocimiento de ingresos a finales de 2025 tras la ejecución final del contrato. La iniciativa busca fortalecer la coordinación de la atención y mejorar los resultados de salud mental para los niños en todo Indiana, aprovechando el enfoque integrado de Syra Health que combina experiencia en salud pública, análisis de datos y apoyo en salud mental.

Syra Health(OTCQB: SYRA)가 인디애나 주 아동 정신 건강 랩어라운드 액세스 사이트 구축을 위한 계약 협상 대상자로 선정되었습니다. 이 계약은 3년간 580만 달러 규모이며 1년 연장 가능성이 있습니다. Syra Health는 인디애나 주 아동 정신 건강 랩어라운드 프로그램을 이용하는 가족과 제공자들을 위한 주 전역의 접근 창구 역할을 하게 됩니다.

회사는 계약 총액의 23.5%를 인디애나 기반 다른 업체에 하도급할 것을 약속했습니다. 최종 계약 체결 후 2025년 후반에 수익 인식이 예상됩니다. 이 사업은 공중 보건 전문지식, 데이터 분석, 정신 건강 지원을 결합한 Syra Health의 통합적 접근 방식을 활용하여 인디애나 전역 아동들의 정신 건강 결과를 개선하고 치료 조정을 강화하는 것을 목표로 합니다.

Syra Health (OTCQB : SYRA) a été sélectionnée pour négocier un contrat visant à mettre en œuvre le Child Mental Health Wraparound Access Site de l’Indiana. Ce contrat, d’une valeur de 5,8 millions de dollars sur trois ans avec une possible prolongation d’un an, prévoit que Syra Health serve de point d’accès à l’échelle de l’État pour les familles et les prestataires participant au programme Child Mental Health Wraparound de l’Indiana.

L’entreprise s’est engagée à sous-traiter 23,5% de la valeur totale du contrat à d’autres sociétés basées en Indiana. La reconnaissance des revenus est prévue pour la fin de l’année 2025, après la signature définitive du contrat. Cette initiative vise à renforcer la coordination des soins et à améliorer les résultats en santé mentale des enfants dans tout l’Indiana, en tirant parti de l’approche intégrée de Syra Health combinant expertise en santé publique, analyse de données et soutien en santé mentale.

Syra Health (OTCQB: SYRA) wurde für Vertragsverhandlungen ausgewählt, um den Child Mental Health Wraparound Access Site in Indiana umzusetzen. Der Vertrag hat einen Wert von 5,8 Millionen US-Dollar über drei Jahre mit einer möglichen Verlängerung um ein Jahr. Syra Health wird als landesweiter Zugangspunkt für Familien und Anbieter fungieren, die das Child Mental Health Wraparound-Programm in Indiana nutzen.

Das Unternehmen hat sich verpflichtet, 23,5% des Gesamtvertragswerts an andere in Indiana ansässige Unternehmen zu vergeben. Die Umsatzerfassung wird nach der endgültigen Vertragsunterzeichnung Ende 2025 erwartet. Die Initiative zielt darauf ab, die Koordination der Versorgung zu stärken und die psychische Gesundheit von Kindern in ganz Indiana zu verbessern, indem Syra Healths integrierter Ansatz aus Fachwissen im öffentlichen Gesundheitswesen, Datenanalyse und psychischer Gesundheitsunterstützung genutzt wird.

Positive
  • New $5.8 million contract opportunity with Indiana state government
  • Contract extends over 3 years with potential 1-year extension
  • Revenue recognition expected in 2025
  • Demonstrates company's ability to secure government contracts
Negative
  • Contract still in negotiation phase, not yet finalized
  • 23.5% of contract value will be subcontracted to other companies

CARMEL, Ind., May 27, 2025 /PRNewswire/ -- Syra Health Corp. (OTCQB: SYRA) ("Syra Health" or the "Company"), a healthcare technology company dedicated to powering better health through innovative technology products and services, announced today that the Indiana Department of Administration in collaboration with the Family and Social Services Administration/Division of Mental Health and Addiction has recommended Syra Health for contract negotiations to implement Indiana's Child Mental Health Wraparound Access Site. The contract is valued at $5.8 million over three years, with an optional one-year extension. Syra has committed to subcontracting 23.5% of the total contract value to other Indiana-based companies. Revenue related to this contract is expected to be recognized later in the year, following final contract execution.

"Through this partnership, the state of Indiana is investing in Syra Health's proven ability to deliver comprehensive, outcome-driven health solutions," said Dr. Deepika Vuppalanchi, interim CEO and co-founder of Syra Health. "We bring an integrated approach that combines public health expertise, data analytics, and mental health support—ensuring programs are not only implemented, but deliver measurable impact."

Indiana-based Syra Health has a track record of executing complex health initiatives for state and local governments, including work with Indiana's Department of Child Services and multiple agencies nationwide.

Syra Health will serve as the statewide access point for families and providers navigating Indiana's Child Mental Health Wraparound program. This initiative is a key part of the state's broader strategy to strengthen care coordination and improve mental health outcomes for children across the state.

About Syra Health

Syra Health is a healthcare technology company that powers better health in critical areas such as mental health, population health, and the healthcare workforce. The company's leading-edge technology products 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, 2024, 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 Media Inquiries:
Christine Drury
Director of Corporate Communications
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 Indiana contract?

The contract is valued at $5.8 million over three years, with an optional one-year extension.

When will Syra Health (SYRA) recognize revenue from the Indiana mental health contract?

Revenue from the contract is expected to be recognized later in 2025, following final contract execution.

What percentage of the Indiana contract will Syra Health (SYRA) subcontract?

Syra Health has committed to subcontracting 23.5% of the total contract value to other Indiana-based companies.

What services will Syra Health (SYRA) provide for Indiana's Child Mental Health program?

Syra Health will serve as the statewide access point for families and providers navigating Indiana's Child Mental Health Wraparound program, combining public health expertise, data analytics, and mental health support.
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