Last checked at 16 Mar 2022 07:00
16 March 2022
Kooth plc
("Kooth" or the "Group")
Update on strategic progress
New contract in Greater Manchester to cover approx. two million people
Further expansion of support for all groups in England and Scotland
Kooth, the UK's leading digital mental health platform, announces positive momentum for its strategy to expand its mental health support throughout the UK to people of all ages in 2022.
Supporting the population of Greater Manchester
Kooth has secured a contract to support the adult population of Greater Manchester. This builds on Kooth's success in supporting 10- to 18-year-olds in the region, and will make professional mental health support available free to the population of nearly 2 million people.
Adult population expansion
Kooth has further expanded its mental health support for the adult population across the UK with contract wins in Norfolk, Warwickshire and the Wirral. Kooth already provides support for children and young people (11- to 18-year-olds) in these regions.
Scotland expansion: Supporting Children and Young People ("CYP")
Kooth has continued to expand its platform for CYP into devolved nations, with commissions in Aberdeenshire, Borders, Clackmannanshire, Falkirk, Highland, and Western Isles.
These contracts are anticipated to add over £1m to Kooth's ARR during the course of 2022 as part of the Board's existing growth plan.
Tim Barker, Chief Executive Officer of Kooth, said:
"I am proud that Kooth is helping adult populations with mental health in Greater Manchester which builds on our presence throughout the UK. In Scotland I'm pleased to announce a significant extension of our presence in supporting children and young people. Our mission is simple: to create a welcoming space for effective personalised digital mental health care - accessible for all. Our progress is possible because of our first-rate team, and the clinically-validated benefit our services offer people of all ages."
ENDS
Enquiries:
Kooth plc | investorrelations@kooth.com |
Tim Barker, CEO | |
Sanjay Jawa, CFO | |
Panmure Gordon, Nominated Adviser and Joint Broker
| |
Corporate Finance: Dominic Morley, Ailsa MacMaster | +44 (0) 20 7886 2500 |
Corporate Broking: Erik Anderson | |
Stifel, Joint Broker | +44 (0) 20 7710 7600 |
Ben Maddison, Nick Adams, Nicholas Harland | |
FTI Consulting | kooth@fticonsulting.com |
Jamie Ricketts, Alex Shaw, Usama Ali |
About Kooth plc:
Kooth (AIM:KOO) is the UK's leading digital mental health platform. 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.
Our four services are:
· Kooth: for children and young persons
· Kooth Student: for university and higher-education students
· Kooth: for Adults
· Kooth Work: for employees
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. Currently, Kooth sees over 4,000 logins a day.
For adults, Kooth operates across distinct locations and serves specific cohorts, including parents, teachers, victims of crime, and those who have suffered from or continue to experience domestic violence. It is also offered as a benefit by a number of corporate organisations delivering anonymous digital mental health support services to employees.
Kooth is the only digital mental health provider to hold a UK-wide accreditation from the British Association of Counselling and Psychotherapy (BACP).
In 2021, Kooth was named 'Best Newcomer' at the European Mediscience Awards, winner in the category of 'Tech for Good' at the UK Tech Awards and recognised as the 'HealthTech Pioneer of the Year' at the UK Business Tech Awards for its role in 'Supporting the Nation's Mental Health'.