24 December 2024
Kooth Plc
("Kooth", the
"Company" or the
"Group")
US pilot contract
win
Kooth (AIM: KOO), a global leader in youth
digital mental well-being, announces that it has agreed terms of a
new pilot contract with the State of New Jersey (the "State"),
valued at $1.45m in its pilot year (the "Contract").
Under the terms of the Contract, Kooth will
provide mental health support via its Soluna platform to school
districts within New Jersey, reaching 50,000 students aged 13 to
18. The Contract will run for an initial period of one year, with
services expected to launch in mid-January 2025. As a result of
Kooth's footprint in the US, the Contract will be delivered using
existing infrastructure and resources alongside in-state marketing
expertise and licensed practitioners for counselling. This
announcement highlights Kooth's commitment to expansion in the US,
adding to its contract with California and the Company's private
sector partnership with Aetna Better Health in Illinois.
Soluna will offer eligible students round the
clock access to self-guided tools, content and activities,
alongside peer support communities benefiting from pre-moderation
by trained behavioural health professionals. Kooth's platform will
also provide eligible students with access to confidential
counselling and coaching, seven days a week between the hours of
14:00 and 21:00, allowing students to access services after school
and on the weekends.
The Company continues to be in discussions
regarding the second pilot contract in the US, referenced in the
Company's interim results, which are expected to be concluded in
Q1.
Tim Barker,
Chief Executive Officer of Kooth, said:
"We're delighted that, in partnership with the
State of New Jersey, Kooth will be providing 50,000 students with
access to our platform, enabling them to engage with vital mental
health support and services. At Kooth, we're proud to be able to
offer young people access to safe and secure counselling and
coaching support. We're confident that we will continue to grow our
presence across the US, providing support to young people to help
combat the growing global youth mental health crisis."
This
announcement contains inside information for the purposes of
Article 7 of Regulation (EU) No 596/2014 as it forms part of UK
domestic law by virtue of the European Union (Withdrawal) Act 2018.
The person responsible for this announcement is Sanjay Jawa,
CFO.
- Ends -
Enquiries:
|
Kooth
plc
Tim Barker,
CEO
Sanjay Jawa, CFO
|
investorrelations@kooth.com
|
|
Stifel,
Nominated Adviser & Sole Broker
Ben Maddison, Erik Anderson, Nick Harland, Ben
Good
|
+44 (0) 20 7710
7600
|
|
FTI
Consulting, Financial PR
Ben Atwell, Alex Shaw
|
Kooth@fticonsulting.com
|
About Kooth
plc:
Kooth (AIM:KOO) is a global leader in youth
digital mental well-being. Our mission is to provide accessible and
safe spaces for everyone to achieve better mental health. Our
platform is clinically robust and accredited to provide a range of
therapeutic support and interventions. All our services are
predicated on easy access to make early intervention and prevention
a reality.
Kooth is a fully safeguarded and pre-moderated
community with a library of peer and professional created content,
alongside access to experienced online counsellors. There are no
thresholds for support and no waiting lists.
Kooth is the longest standing digital mental
health provider to hold a UK-wide accreditation from the British
Association of Counselling and Psychotherapy (BACP) and according
to NHS England data for 2022/23 is now the largest single access
provider for mental health support for under 18s.
In 2021, Kooth began executing on its
international expansion strategy, with an initial focus on the US
market. This focus is due to the growing recognition of the
importance of improving youth mental health in this key global
healthcare market, with 1-in-6 people aged 6-17 experiencing a
mental health disorder each year.
For more information, please visit www.koothplc.com.
