Kooth PLC Update on strategic progress (8951E)
16 Mars 2022 - 8:00AM
UK Regulatory
TIDMKOO
RNS Number : 8951E
Kooth PLC
16 March 2022
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 GBP1m 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'.
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END
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