Working with the federal government builds on
Syra's experience at the state level
CARMEL,
Ind., Dec. 7, 2023 /PRNewswire/ -- Syra Health
Corp. (NASDAQ: SYRA) ("Syra Health" or the "Company"), a healthcare
company addressing some of healthcare's most significant challenges
by providing innovative services and technology solutions, today
announced that it is expanding its reach beyond state and local
government agencies to now include supplying its products,
services, and solutions to the federal government.
In support of the expansion, Syra Health is hiring additional
subject matter experts and a federal contracting team. The Company
has also defined and bolstered an internal operations team to
implement its federal solutions. According to the Centers for
Medicare and Medicaid Services, the largest shares of total health
spending were sponsored by the federal government at 34% versus 15%
for state and local governments.
"Expanding our business at the federal level is a natural next
step for Syra Health," said Dr. Deepika
Vuppalanchi, CEO, Syra
Health. "We began our business working with the government
at the state and local levels and are ready to take the next step
working in medical and health services for organizations such as
the Department of Defense, VA, and CDC."
Syra Health currently has 13 active contracts across 12 states
nationwide, supplying state and local governments with clinical
staffing, mental and behavioral health solutions, and population
health services.
As one example, Syra Health has a team of epidemiologists and
research analysts who evaluate the implementation and impact of
federal programs at the state level for improved health outcomes.
Two of those programs are the Racial and Ethnic Approaches to
Community Health (REACH) Healthy Neighborhoods Project and
the Culturally and Linguistically Appropriate Services (CLAS)
Standards.
One of the first areas of focus for Syra Health will be
providing healthcare workforce solutions. Syra Health uses agile
staffing methodologies to provide trained and licensed healthcare
professionals to fill gaps left by workforce shortages, stress, and
burnout. Syra Health also offers healthcare management and has
systems and processes in place to measure performance.
"We have a strong foundation of health and medical services,
solutions, and clinical staffing that allow us to expand into the
federal market," said Sandeep Allam,
Executive Chairman and President, Syra
Health. "We look forward to the many opportunities we
anticipate are ahead of us."
About Syra Health:
Syra Health is a healthcare company addressing some of
healthcare's most significant challenges in areas such as
behavioral and mental health, digital health, and population
health, by providing innovative services and technology solutions.
Syra Health's products and services are centered on prevention,
improved access, and affordable care. Syra Health supplies its
solutions to payers, providers, life sciences organizations,
academic institutions, and government. 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 registration statement on
Form S-1 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