US pilot contract win
Kooth wins $1.45m pilot contract with New Jersey to provide mental health services to 50,000 students via its Soluna platform.
- Pilot contract value (year one) $1.45m
- Students to be reached 50,000
- Age range 13 to 18
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Kooth (AIM: KOO), a global leader in youth digital mental well-being, announces that it has agreed terms of a new pilot contract with the State of New Jersey (the "State"), valued at $1.45m in its pilot year (the "Contract").
Under the terms of the Contract, Kooth will provide mental health support via its Soluna platform to school districts within New Jersey, reaching 50,000 students aged 13 to 18. The Contract will run for an initial period of one year, with services expected to launch in mid-January 2025. As a result of Kooth's footprint in the US, the Contract will be delivered using existing infrastructure and resources alongside in-state marketing expertise and licensed practitioners for counselling. This announcement highlights Kooth's commitment to expansion in the US, adding to its contract with California and the Company's private sector partnership with Aetna Better Health in Illinois.
Soluna will offer eligible students round the clock access to self-guided tools, content and activities, alongside peer support communities benefiting from pre-moderation by trained behavioural health professionals. Kooth's platform will also provide eligible students with access to confidential counselling and coaching, seven days a week between the hours of 14:00 and 21:00, allowing students to access services after school and on the weekends.
The Company continues to be in discussions regarding the second pilot contract in the US, referenced in the Company's interim results, which are expected to be concluded in Q1.
Tim Barker, Chief Executive Officer of Kooth, said:
"We're delighted that, in partnership with the State of New Jersey, Kooth will be providing 50,000 students with access to our platform, enabling them to engage with vital mental health support and services. At Kooth, we're proud to be able to offer young people access to safe and secure counselling and coaching support. We're confident that we will continue to grow our presence across the US, providing support to young people to help combat the growing global youth mental health crisis."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.