Why Is Syra Health Stock Surging Today?

Syra Health Corp. (NASDAQ:SYRA) shares surged on Tuesday after the company secured a new workforce contract, strengthening its position in the healthcare services sector.

The company, focused on delivering innovative healthcare solutions, was awarded a contract valued at up to $1 million by the Washington D.C. government.

This contract is on behalf of the Office of the State Superintendent of Education, with Syra Health providing nursing staff to support students’ health and well-being.

The contract with Washington D.C. will see Syra Health deploy registered nurses, licensed practical nurses, and certified nursing assistants to assist in student healthcare services.

As part of the agreement, the company will adhere to D.C.’s strict healthcare guidelines, ensuring high-quality care. The one-year deal comes with multiple options for extensions.

“By providing tailored services that alleviate staffing shortages and ensure continuity of care, we are not only addressing immediate healthcare needs but also supporting long-term solutions,” said CEO Deepika Vuppalanchi.

In addition to the Washington D.C. contract, Syra Health has expanded its work with the Indiana Family and Social Services Administration’s NeuroDiagnostic Institute.

The company has received an additional $1.2 million for its ongoing support, raising the total contract value to $18.7 million.

Through this partnership, Syra Health will continue to provide healthcare professionals to assess and treat patients with complex neuropsychiatric conditions.

Price Action: SYRA shares are trading higher by 55.1% at $0.76 at the last check Tuesday.

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