Investing.com – Kooth (LON:) shares rose more than 9% on Tuesday after the digital mental health services company said it had secured a new pilot contract with the state of New Jersey, valued at 1, 45 million dollars for its first year.
Under the terms of the contract, Kooth will provide mental health support through its Soluna platform to New Jersey school districts, reaching approximately 50,000 students ages 13 to 18.
The services will launch in mid-January 2025 and will provide students with 24-hour access to mental health tools, content and support.
The pilot program will leverage Kooth’s existing infrastructure in the U.S., along with state marketing expertise and licensed behavioral health professionals, to effectively deliver services.
The Soluna platform will offer students access to self-guided tools, educational content and peer-to-peer support communities, pre-moderated by trained professionals.
Additionally, students will have the opportunity to participate in confidential counseling and coaching services, available seven days a week, offering 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 U.S., including its contract with California and its private sector partnership with Aetna Better Health in Illinois.
The company is also in talks about a second pilot contract, which is expected to end in the first quarter of 2025.