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Syra Health Announces a Healthcare Workforce Contract with Fairfax County, Virginia

PRNewswire 12-Feb-2024 8:03 AM

The contract is Syra Health's third active contract in the state of Virginia

CARMEL, Ind., Feb. 12, 2024 /PRNewswire/ -- Syra Health Corp. (NASDAQ:SYRA) ("Syra Health" or the "Company"), a healthcare technology company with a mission to improve healthcare by providing innovative services and technology solutions, announced today a healthcare workforce contract with the County of Fairfax, Virginia where the Company will staff licensed nurses to provide 24-hour nursing care. The Company will also staff other temporary healthcare positions.

This is Syra Health's third active government contract in the state of Virginia. All three contracts provide healthcare staffing, fulfilled by Syra Health's Healthcare Workforce business unit.

Under this contract, Syra Health will deploy its expertise in healthcare staffing to assist the County of Fairfax in meeting its clinical workforce requirements. This collaboration aligns with Syra Health's commitment to advancing healthcare beginning with the personnel that makes healthcare possible.

Sandeep Allam, Executive Chairman and President of Syra Health said, "Our dedication to enhancing healthcare extends beyond traditional models. By providing top-tier clinical staffing, we aim to contribute to the County of Fairfax's commitment to delivering quality healthcare services to its community."

In September of 2023, Syra Health announced a contract awarded by the Commonwealth of Virginia Department of Corrections to staff temporary medical services. Before September, Syra Health secured a state-wide contract providing healthcare staffing to the state Department of General Services.

Syra Health currently has active contracts in 15 states across the nation, including agreements with local, state, and federal government agencies, payers, and academic institutions.

The contract announced today runs through June 30, 2028, with the opportunity for an additional two years in renewals. Revenue from the contract will be determined based on the number of positions that require staffing and the hourly rate for each position.

ABOUT SYRA HEALTH

Syra Health is a healthcare technology 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 the 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 outlined 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 & 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