By M. Marin
READ THE FULL SYRA RESEARCH REPORT
Key takeaways 2023 outcomes, 2024 steerage…
Syra Well being Corp. (NASDAQ:SYRA), is a healthcare know-how firm creating end-to-end options in behavioral and psychological well being, digital well being, inhabitants well being, well being schooling providers, administration and healthcare workforce and authorities providers, reported 2023 outcomes and initiated 2024 steerage. Our key takeaways embrace:
➢ 2023 comparisons to 2022 had been skewed by non-recurring pandemic associated components in 2022.
➢ SYRA expects income development of 64% to 100% in 2024 in comparison with 2023.
➢ There could possibly be upside to those metrics, relying on how shortly income associated to SYRA’s first federal-based award as a sub-contractor of an general $75 billion contract ramps.
➢ The corporate’s gross margin expanded in 2023, as larger margin enterprise items continued to develop, and SYRA anticipates additional margin enlargement reflecting the anticipated continued development of its increasing portfolio of providers and instruments.
SYRA operates by way of six totally different enterprise items: Behavioral and Psychological Well being, which offers consulting providers to psychological well being hospitals and organizations, authorities companies and different well being organizations, together with pharmaceutical producers; Digital Well being develops and markets apps and different know-how merchandise to enhance healthcare; and Inhabitants Well being focuses on epidemiology options and knowledge analytics providers in pursuit of a more healthy inhabitants. As well as, the Healthcare Workforce unit evaluates prospects’ healthcare staffing and offers options to enhance their effectiveness, whereas Well being Training offers schooling and coaching providers. The corporate’s Authorities unit addresses the wants of presidency companies.
New enterprise exercise sturdy, with a number of current contract wins …
The corporate’s focus areas symbolize a large and rising addressable market and SYRA continues to win new contracts to develop income and broaden its working footprint. For instance, earlier this week Syra Well being introduced a brand new healthcare workforce contract in Missouri to offer momentary medical providers personnel. Income shall be primarily based on the variety of positions crammed and the period of those placements. The contract encompasses the recruitment of specialised medical professionals essential to addressing healthcare wants throughout Missouri, together with of resident physicians, physicians, chief physicians, psychiatrists, and chief psychiatrists.
Earlier this month, SYRA introduced Syra introduced plans to ship substance use dysfunction and overdose prevention coaching in Kansas and in addition gained a contract valued at greater than $650,000 centered on healthcare high quality enchancment.
SYRA additionally just lately introduced a partnership for a federal contract that general is valued at $75 billion. Particularly, SYRA has been chosen as a subcontractor for this contract, which was awarded to Georgia-based Caduceus Healthcare by the federal Division of Well being and Human Providers (HHS), Administration for Households and Youngsters (ACR), Workplace of Refugee Resettlement (ORR) Medical Staffing and Assist. Syra Well being will present a number of providers to Caduceus Healthcare as a sub-contractor to assist this award. General, the contract is for Caduceus Healthcare to offer momentary shelter, care services, direct care providers, medical care, case administration, schooling, and transportation in assist of HHS’s Inflow Care Amenities.
SYRA believes this represents an vital milestone as the corporate continues to expend its working footprint. Furthermore, having launched its federal authorities options unit only some quick months in the past in December 2023, the corporate believes this additionally underscores the worth of its rising portfolio of merchandise, instruments and providers. This sub-contractor award represents SYRA’s first federal-based contract.
SYRA continues to diversify income by geographic markets and throughout its enterprise items.…
The corporate’s newest contract represents SYRA’s entrance into its 18th state, supporting the corporate’s aim to ship healthcare options nationwide. The corporate continues to diversify income streams each by geographic markets and throughout its enterprise items.
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