REG - Kooth PLC - Contract with State of Pennsylvania formalised

KoothAnnouncement

13/10/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221013:nRSM7166Ca&default-theme=true

RNS Number : 7166C  Kooth PLC  13 October 2022

13 October 2022

Kooth plc

("Kooth" or the "Group")

Contract with State of Pennsylvania formalised

 

Kooth, the UK's leading digital mental health platform, announces that,
following its announcement of 27 September 2022 relating to the agreement of
terms of a significant US contract, this contract has now been formalised and
signed by the Group and the State of Pennsylvania, USA.

 

As previously announced, the contract will run for an initial pilot phase over
the course of an academic year and is valued at $3 million to Kooth. During
the pilot phase the Group will provide its platform to 30 school districts
within Pennsylvania, encompassing a school population of 150,000 students. If
the pilot is successful, it could be extended to include more of the State's
500 school districts.

 

Tim Barker, Chief Executive Officer of Kooth, said:

"We are delighted that this contract, which represents a major step in our
drive to expand in the US, is now formalised and that we can not only begin
working to bring our leading digital mental health platform to this new market
but, more importantly, to help children and young people across the State of
Pennsylvania. We look forward to our work with the State and will also work to
ensure that other public and private bodies across the US are aware of the
positive impact that Kooth's platform can have on peoples' mental health."

 

- Ends -

 

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.

 

Enquiries:

 Kooth plc                                                  investorrelations@kooth.com (mailto:investorrelations@kooth.com)
 Tim Barker, CEO
 Sanjay Jawa, CFO

 Panmure Gordon, Nominated Adviser and Joint Broker

 Corporate Finance:                                         +44 (0) 20 7886 2500

 Dominic Morley, James Sinclair-Ford
 Corporate Broking:

 Erik Anderson

 Stifel, Joint Broker                                       +44 (0) 20 7710 7600
 Ben Maddison, Nick Adams, Nicholas Harland, Richard Short

 FTI Consulting                                             kooth@fticonsulting.com (mailto:kooth@fticonsulting.com)
 Jamie Ricketts, Alex Shaw, Usama Ali

 

About Kooth plc:

 

Kooth (AIM:KOO) is the UK's leading digital mental health platform. 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.

 

Our three services are:

 

·    Kooth: for children and young persons

·    Kooth: for Adults

·    Kooth Work: for employees

 

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.
Currently, Kooth sees over 4,000 logins a day.

 

For adults, Kooth operates across distinct locations and serves specific
cohorts, including parents, teachers, victims of crime, and those who have
suffered from or continue to experience domestic violence. It is also offered
as a benefit by a number of corporate organisations delivering anonymous
digital mental health support services to employees.

 

Kooth is the only digital mental health provider to hold a UK-wide
accreditation from the British Association of Counselling and Psychotherapy
(BACP).

 

In 2021, Kooth was named 'Best Newcomer' at the European Mediscience Awards,
winner in the category of 'Tech for Good' at the UK Tech Awards and recognised
as the 'HealthTech Pioneer of the Year' at the UK Business Tech Awards for its
role in 'Supporting the Nation's Mental Health'.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  CNTBCBDGBXBDGDD