(Sharecast News) - Digital mental wellbeing specialist Kooth announced the launch of its digital mental health platform and mobile app in California on Tuesday, under the name 'Soluna'.
The AIM-traded firm said Soluna was designed to provide free access to its range of mental health resources and services for California's six million people aged 13 to 25.
It said the platform would offer an array of features, including one-to-one professional support, self-guided tools, informative content, engaging activities, and peer support communities.
Importantly, the peer support communities would be supervised by trained behavioural health professionals, ensuring a safe and supportive environment for users.
Kooth said Soluna offered professional coaching support in both English and Spanish, catering to a diverse user base.
Additionally, it provided telephone-based support in all 19 Medi-Cal threshold languages, further enhancing accessibility.
In terms of financial implications, the contract associated with Soluna's launch had an expected value of $188m, spanning until June 2027.
That estimate included the possibility of increased revenue contingent on usage levels and product development.
"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," said chief executive officer Tim Barker.
"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."
At 1347 GMT, shares in Kooth were down 3.82% at 302p.
Reporting by Josh White for Sharecast.com.
Kooth Plc (KOO)