Syra Health to Acquire HealthCall Inc. for $1.5M
Ticker: SYRA · Form: 8-K · Filed: Jun 18, 2024 · CIK: 1922335
| Field | Detail |
|---|---|
| Company | Syra Health Corp (SYRA) |
| Form Type | 8-K |
| Filed Date | Jun 18, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, healthcare, merger
TL;DR
Syra Health is buying HealthCall for $1.5M, closing Q3 2024.
AI Summary
Syra Health Corp. announced on June 18, 2024, that it has entered into a definitive agreement to acquire all outstanding equity interests of HealthCall Inc. for a purchase price of $1.5 million. The acquisition is expected to close in the third quarter of 2024 and will be funded through a combination of cash on hand and a promissory note.
Why It Matters
This acquisition could significantly expand Syra Health's service offerings and market reach in the healthcare sector, potentially leading to increased revenue and operational synergies.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, potential overpayment, and failure to achieve expected synergies, which could impact Syra Health's financial performance.
Key Numbers
- $1.5M — Acquisition Price (Syra Health Corp. is acquiring HealthCall Inc. for this amount.)
Key Players & Entities
- Syra Health Corp. (company) — Acquiring company
- HealthCall Inc. (company) — Acquired company
- $1.5 million (dollar_amount) — Purchase price for HealthCall Inc.
- June 18, 2024 (date) — Date of definitive agreement
- third quarter of 2024 (date) — Expected closing period for the acquisition
FAQ
What is the primary business of HealthCall Inc.?
The filing does not explicitly state the primary business of HealthCall Inc., but it is being acquired by Syra Health Corp., suggesting it operates within a related healthcare or service sector.
How will Syra Health Corp. fund the acquisition of HealthCall Inc.?
The acquisition will be funded through a combination of cash on hand and a promissory note.
When is the acquisition of HealthCall Inc. expected to be completed?
The acquisition is expected to close in the third quarter of 2024.
What is the total purchase price for HealthCall Inc.?
The total purchase price for all outstanding equity interests of HealthCall Inc. is $1.5 million.
What is the significance of this acquisition for Syra Health Corp.?
This acquisition is expected to expand Syra Health Corp.'s service offerings and market reach within the healthcare industry.
Filing Stats: 632 words · 3 min read · ~2 pages · Grade level 10.5 · Accepted 2024-06-18 16:15:27
Key Financial Figures
- $0.001 — hich registered Class A Common Stock, $0.001 par value SYRA The Nasdaq Stock Mar
Filing Documents
- form8-k.htm (8-K) — 52KB
- 0001493152-24-024283.txt ( ) — 222KB
- syra-20240618.xsd (EX-101.SCH) — 3KB
- syra-20240618_lab.xml (EX-101.LAB) — 33KB
- syra-20240618_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 4KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SYRA HEALTH CORP. Date: June 18, 2024 By: /s/ Deepika Vuppalanchi Deepika Vuppalanchi Chief Executive Officer