Investing.com – Kooth (LON:) shares jumped more than 9% on Tuesday after the digital mental health services company said it was awarded a new pilot contract with the state of New Jersey, worth $1.45 million for the first year.
Under the terms of the contract, Kooth will provide mental health support through its Soluna platform to school districts throughout New Jersey, reaching an estimated 50,000 students between the ages of 13 and 18.
The services are scheduled to launch in mid-January 2025 and will provide students with 24-hour access to mental health tools, content and support.
The pilot will leverage Kooth's existing infrastructure in the United States, along with in-state marketing expertise and licensed behavioral health professionals, to effectively deliver services.
The Soluna platform will provide students with access to self-direction tools, educational content, and peer support communities, with prior supervision by trained professionals.
In addition, students will have the opportunity to participate in confidential counseling and coaching services, available seven days a week, providing flexibility to access support after school hours and on weekends.
This pilot contract with New Jersey comes on the heels of Kooth's growing presence in the United States, including its contract with California and its private sector partnership with Aetna Better Health in Illinois.
The company is also in discussions for a second pilot contract, expected to be completed in the first quarter of 2025.
