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KOO Kooth Plc

304.00
0.00 (0.00%)
22 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Kooth Plc LSE:KOO London Ordinary Share GB00BMCZLK30 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 304.00 300.00 308.00 304.00 304.00 304.00 4,631 08:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Spec Outpatient Facility,nec 33.34M -169k -0.0051 -596.08 100.49M

Kooth PLC Launch of California contract (9779Y)

09/01/2024 7:00am

UK Regulatory


Kooth (LSE:KOO)
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From Nov 2023 to May 2024

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TIDMKOO

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.

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 or visit 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.

END

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(END) Dow Jones Newswires

January 09, 2024 02:00 ET (07:00 GMT)

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