Kooth launches service partnership with Aetna

Kooth PLC

20 August 2024

 

20 August 2024

Kooth plc

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

Kooth launches service partnership with Aetna Better Health® of Illinois

Partnership sees Kooth's platform delivering mental health services to thousands of Medicaid children and young people in Illinois

Kooth (AIM: KOO), a global leader in youth digital mental well-being, today announces it has begun the delivery of its services as part of its initial one-year partnership with Aetna Better Health® of Illinois. Kooth's services are now live across locations in the east, Midwest and west coast of the United States, and this contract with Aetna represents Kooth's first private sector engagement in the country.

Over 1.5 million children were enrolled to Medicaid in Illinois alone last year[1] and research from the National Alliance for Mental Illness states one in six youths in the US aged six to 17 experience a mental health disorder every year. It also indicates a substantial gap in mental healthcare access for adolescents and young people in Illinois.[2] This partnership enables Kooth to deliver its platform to the thousands of children and young people in Illinois' Medicaid population who find themselves dealing with issues related to mental health.

The partnership will initially focus on offering 11,000 young people across three counties in Illinois access to safe, confidential, and moderated content, community, and professional support from Illinois licensed clinicians. Aetna Medicaid Administrators, a CVS Health Company, has over 30 years of experience managing the care of under-resourced populations across 15 states and is well placed to support the delivery of Kooth's services to children and young people.

Tim Barker, Chief Executive Officer of Kooth, said:

"We're delighted to announce progress in our partnership with Aetna, our first private sector US partner, which means that thousands of children and young people in Illinois' Medicaid population will be able to benefit from our platform. We look forward to continuing our work together and delivering support to those who need it."

Rushil Desai, CEO of Aetna Better Health of Illinois said:

"At Aetna, we recognize the growing mental health challenges facing young people in Illinois today and are dedicated to providing support before a crisis emerges. We are encouraged by the progression of our partnership with Kooth and remain committed to delivering a transformational service to our youngest members in Illinois by providing them with access to Kooth's school-based platform."

This announcement contains inside information under the UK Market Abuse Regulation. The person responsible for arranging for the release of this announcement on behalf of the Company is Tim Barker, CEO.

ENDS

Enquiries:

Kooth plc		[e-mail]
Tim Barker, CEO
Sanjay Jawa, CFO
Stifel, Nominated Adviser & Sole Broker		[phone]
Ben Maddison, Nick Harland, Ben Good
FTI Consulting, Financial PR		[e-mail]
Ben Atwell, Alex Shaw

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.

For more information, please visit www.koothplc.com.

About Aetna Medicaid:

Aetna Medicaid Administrators LLC (Aetna Medicaid), a CVS Health company, has over 30 years of experience managing the care of under-resourced populations, using innovative approaches and a local presence in each market to achieve both successful health care results and effective cost outcomes.

Aetna Medicaid has expertise serving high-need Medicaid members, including those who are dually eligible for Medicaid and Medicare. Currently, Aetna Medicaid owns and/or administers Medicaid managed health care plans under the names of Aetna Better Health and other affiliate names.

Together, these plans serve members in 15 states, including Arizona, Florida, Illinois, Kansas, Kentucky, Louisiana, Maryland, Michigan, New Jersey, New York, Ohio, Pennsylvania, Texas, Virginia and West Virginia.

For more information, www.aetnabetterhealth.com.

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[1] https://hfs.illinois.gov/info/factsfigures/program-enrollment/statewide.html

[2] https://www.nami.org/advocacy/state-fact-sheets/ [data found in Illinois fact sheet]

 

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