Kooth PLC Directorate Change

RNS Number : 4586M

Kooth PLC

30 April 2024

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE UK VERSION OF REGULATION (EU) NO 596/2014 WHICH IS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

30 April 2024

 

Kooth Plc

 

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

 

Directorate change

Kooth adds US experience to its board

Kooth (AIM: KOO), a global leader in youth digital mental well-being, is pleased to announce the appointment of Sherry Beth Husa to the Board as an independent non-executive Director with immediate effect.

Sherry Beth Husa has more than 35 years' experience in building and improving the performance of managed care organisations in the USA.  Sherry has extensive experience of leading and improving the operations, growth and profitability of significant US health insurance programmes. 

At Centene, a Fortune 50 healthcare enterprise, Sherry recently held the role of President and CEO of Meridian Health Plan of Illinois, which provided insurance coverage for more than 1.2 million members and generated $6.6 billion of revenue.  Sherry also held the roles of President and CEO of the Wisconsin and Nebraska health plans at Centene.  In addition, she has held executive positions at other leading firms including Cigna Healthcare and Humana.  Sherry has repeatedly demonstrated throughout her career a strong ability to improve performance and work with US Federal and State programmes, including Medicaid and Children's Health Insurance Programs (CHIP), both of which will be invaluable to Kooth as it looks to further expand its operations in the US.

Peter Whiting, Chair of Kooth, said:

 

"I am delighted to welcome Sherry to the board of Kooth.  Sherry brings extensive executive experience and expertise in delivering healthcare and related insurance programmes across the US and has repeatedly driven significant growth through her leadership.

 

More than 85 million Americans are enrolled in Medicaid and CHIP, representing $1 out of every $6 spent on healthcare in the US.  This underlines both our opportunity in the US and also the benefit that Sherry's experience will bring as we look to expand our US operations to help more Americans with their mental health, following our significant contract win in the State of California and partnership with Aetna Better Health Illinois.  Sherry's guidance and drive will be crucial in further building our presence in the US."

 

Enquiries:
Kooth plc	[e-mail]
Tim Barker, CEO
Sanjay Jawa, CFO
Stifel, Nominated Adviser & Sole Broker	[phone]
Ben Maddison, Nick Adams, Nicholas Harland, Erik Anderson
FTI Consulting	[e-mail]
Jamie Ricketts, Alex Shaw, Usama Ali

 

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.

 

Regulatory disclosures - The following disclosures are made in accordance with Schedule 2(g) of the AIM Rules for Companies:  Sherry Beth Husa, aged 59, holds no ordinary shares or options in the Company. Sherry's current and previous directorships are as follows:

 

Current Directorships	Previous Directorships (last 5 years)
Discovery World Versiti, Inc. Versiti Michigan, Inc. Versiti Indiana, Inc. Versiti Wisconsin, Inc. Leyden Family Service	St Ann's Center for Intergenerational Care Competitive Wisconsin Alliance of Health Insurers Meridian Health Plan of Illinois, Inc. Harmony Health Plan, Inc. Managed Health Services Insurance Corp. IlliniCare Health Plan, Inc. Centene Venture Company Illinois WellCare Health Insurance Company of Wisconsin, Inc. WellCare Health Plans of Wisconsin, Inc. WellCare of Illinois, Inc.

 

Save for the disclosures above, there are no further disclosures to be made in accordance with Rule 17 and Schedule 2(g) of the AIM Rules.

 

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