Syra Health - A catalyst for improving health outcomes. (PRNewsfoto/Syra Health)
CARMEL, Ind., Dec. 2, 2024 /PRNewswire/ -- Syra Health Corp. (NASDAQ: SYRA) ("Syra Health" or the "Company"), a healthcare technology company powering better health by providing meaningful solutions, announced today that its flagship mental health app, Syrenity, is now available for direct download by adults 18 years and older. Syrenity leverages a science-driven approach to address prevalent mental health challenges such as stress, anxiety, and depression, positioning the Company to capture growth opportunities in the expanding digital mental health market while advancing its mission to deliver impactful, scalable solutions for improved health outcomes.
"At Syra Health, we are committed to breaking down barriers by making mental health care accessible to everyone," said Dr. Deepika Vuppalanchi, CEO of Syra Health. "With Syrenity, we have developed an app that combines cutting-edge technology with clinically validated methods and real-time data insights to provide personalized solutions that empower individuals to manage their mental health. This launch marks a significant milestone in our mission to provide effective and scalable mental health support to those who need it most."
The global mental health app market is projected to grow significantly, from $6 billion in 2023 to over $30 billion by 2033. This growth is driven by increased awareness of mental health concerns and a rising demand for accessible solutions. Syrenity is strategically positioned to meet this demand by offering clinically validated mental health interventions directly to consumers.
Leveraging artificial intelligence, Syrenity provides a highly personalized user experience. "A key feature of Syrenity is its 24/7 AI-powered companion, Echo," said Dr. Srikant Devaraj, VP of Innovation and Growth at Syra Health. "Echo alleviates social isolation by prompting AI-backed journal entries, offering empathy and support, reminding users of daily goals, and continuously adapting to individual needs based on real-time progress tracking."
Built uniquely on the latest cognitive behavioral therapy (CBT), mindfulness-based stress reduction (MBSR), and neuroscience research, Syrenity's development is guided by a team of clinical psychologists, neuroscientists, and data scientists. Syra Health's partnerships with academic institutions further validate the app's efficacy through ongoing evaluation.
Syrenity provides an intuitive and personalized mental health experience, starting with a comprehensive baseline assessment. Sophisticated algorithms analyze user responses to generate precise risk scores, enabling tailored interventions that help prevent conditions from escalating.
By combining education with practical exercises, Syrenity acts as both a mirror, reflecting users' progress, and a dynamic tool for their mental health journey. Real-time reporting enhances its functionality, offering two types of reports: one tracking mental health improvements and another providing AI-generated clinical summaries with actionable insights to guide future steps. With a strong commitment to data security, Syrenity is fully HIPAA-compliant, employing advanced encryption and strict protocols to ensure user confidentiality.
In addition to its consumer-facing product, Syrenity is also available as a customizable business-to-business solution. The app can be tailored to meet the needs of healthcare providers, payers, life science organizations, and academic institutions, seamlessly integrating into existing systems.
Initially launched in the United States, Syra Health plans to strategically expand Syrenity's reach to select lower-to-middle-income countries, tapping into markets with high unmet mental health needs. This expansion presents significant growth opportunities, aligning with Syra Health's mission to address global mental health challenges while diversifying its revenue streams.
ABOUT SYRA HEALTH
Syra Health is a healthcare technology company powering better health in challenging areas such as behavioral and mental health, digital health, and population health, by providing innovative services and technology products. Syra Health's offerings 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 set forth in our Form 10-K for the year ended December 31, 2023, 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.
