REG - Kooth PLC - Launch of California contract

KoothAnnouncement

09/01/2024 07:00

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RNS Number : 9779Y  Kooth PLC  09 January 2024

9 January 2024

 

Kooth Plc

 

("Kooth", the "Company" or the "Group")

 

Launch of California contract

'Go-live' for Kooth's platform, Soluna, to serve all six million
13-25-year-olds in California

 

Further to the announcements on 4 July and 21 September 2023, Kooth (AIM:
KOO), a global leader in youth digital mental well-being, is pleased to
confirm the launch of its digital mental health platform and mobile app in
California on 1 January 2024 as Soluna (www.SolunaApp.com).

 

Soluna offers California's six million 13-25 year olds free access to
one-to-one professional support, self-guided tools, content, and activities,
and peer support communities moderated by trained behavioral health
professionals. Soluna provides professional coaching support in English and
Spanish as well as telephone-based support in all 19 Medi-Cal threshold
languages.

As indicated previously, the contract has an expected value of $188m through
to June 2027 with possible revenue upside based on usage levels and product
development.

Tim Barker, Chief Executive of Kooth said:

 

"Kooth is proud to support the State of California with this major initiative.
In a State where between 2019 and 2021, approximately one third of adolescents
experienced serious psychological distress and there was a 20% increase in
adolescent suicides - there is a clear imperative to transform mental health
support. The launch of Kooth's service is a cornerstone of Governor Gavin
Newsom's Master Plan for Kids' Mental Health and the Children and Youth
Behavioral Health Initiative and cements our momentum in the US."

 

- Ends -

 

 

 

Enquiries:

 

 Kooth plc                                                   investorrelations@kooth.com
 Tim Barker, CEO
 Sanjay Jawa, CFO

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

 FTI Consulting                                              kooth@fticonsulting.com
 Jamie Ricketts, Alex Shaw, Usama Ali, Kirstie-Anne Woodman

 

 

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.

 

 

 

 

 

 

 

 

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