Investing.com — Shares of Kooth (LON:) jumped over 9% on Tuesday after the digital psychological well being service firm stated it had secured a brand new pilot contract with the state of New Jersey, valued at $1.45 million for its first 12 months.
Below the phrases of the contract, Kooth will present psychological well being help by way of its Soluna platform to highschool districts throughout New Jersey, reaching an estimated 50,000 college students aged 13 to 18.
The providers are set to launch in mid-January 2025 and can present college students with round the clock entry to psychological well being instruments, content material, and help.
The pilot program will leverage Kooth’s current infrastructure within the US, alongside in-state advertising and marketing experience and licensed behavioral well being professionals, to ship providers successfully.
The Soluna platform will provide college students entry to self-guided instruments, instructional content material, and peer help communities, with pre-moderation by skilled professionals.
Moreover, college students can have the chance to interact in confidential counseling and training providers, accessible seven days every week, providing flexibility to entry help after faculty hours and on weekends.
This pilot contract with New Jersey comes on the heels of Kooth’s rising presence within the US, together with its contract with California and its non-public sector partnership with Aetna Higher Well being in Illinois.
The corporate can be in discussions concerning a second pilot contract, anticipated to be finalized within the first quarter of 2025.
