Launch of California contract

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."

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Enquiries:

Kooth plc	[e-mail]
Tim Barker, CEO
Sanjay Jawa, CFO
Stifel, Nominated Adviser and Broker	[phone]
Ben Maddison, Nick Adams, Nicholas Harland, Richard Short
FTI Consulting	[e-mail]
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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