Kooth inks contract with New Jersey for further year under same terms

(Alliance News) - Kooth PLC on Thursday reported the renewal of its contract with the US state of New Jersey for an additional year, with it continuing to provide mental health services through its Soluna platform,

Kooth, a London-based company offering digital mental health services, said the terms of the USD1.5 million per year contract remain the same.

The Soluna platform provides mental health services to four school districts within New Jersey, said Kooth, reaching 50,000 students between the ages of 13 and 18. It said the contract renewal represents the "clear value" of its service to both students and the state.

Shares in the company rose 0.3% to 141.40 pence on Thursday afternoon in London.

"I am pleased that we have renewed our contract with the State of New Jersey and we will continue to provide much needed mental health support to students across the state with strong support from both state leaders and partner organisations. The renewal is a testament to the tangible benefits Kooth's services provide and our evolved strategy places us in a strong position to further build and grow our relationship in New Jersey," said Chief Executive Kate Newhouse.

By Christopher Ward, Alliance News reporter

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