REG - Medpal AI PLC - Acquisition of Remedi Pharmacy Assets

Medpal AIAnnouncement

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RNS Number : 2940C  Medpal AI PLC  29 April 2026

29 April 2026

 

MedPal AI plc

("MedPal AI" or the "Company")

 

Acquisition of Remedi Pharmacy Assets

Pathway to pharmacy EBITDA breakeven at 80,000 items per month

 

MedPal AI (AIM: MPAL, FRA: Z1N), the AI-powered, integrated digital health
company, announces that is has acquired a second pharmacy facility to support
the growth in its pharmacy operations through its wholly owned subsidiary,
MedPal Limited.

Medpal Limited has acquired the facility in Runcorn UK from Remedi Solutions
Limited (in administration) ("Remedi") for total cash consideration of
£310,000.

NHS verified data for the acquired Runcorn site shows 1 million prescription
items dispensed in calendar year 2024, equating to historical annualised
turnover of approximately £10 million at current NHS average item values.

 

Background to the acquisition

Remedi, operating from leased premises in Runcorn, was incorporated in June
2012 and was a provider of specialist pharmaceutical services including NHS
prescription dispensing and delivery, principally to the care home sector.

 

On 6 December 2024, Remedi entered into administration. In October 2025, Jason
Drummond entered into a conditional sale and purchase agreement ("SPA") with
the Administrators to acquire Remedi's trade and assets for which the
Administrators (Nick Harris and Lucinda Coleman, of PKF Francis Clark), were
paid £30,000 to secure the right.  Under the terms of the SPA, Mr Drummond
had the right to novate his interest in the SPA and his right to acquire the
Remedi pharmacy business.  Pursuant to the requirements of an S26 pharmacy
licence, in order to preserve the existing trade and pharmacy licence, Medpal
Limited was appointed as the Responsible Person to operate the pharmacy
business. Since this time, MedPal Limited has accordingly already received
some economic benefit.

 

In addition to securing the rights to the acquisition, Mr Drummond paid
Castlebridge Finance Limited, which had previously provided Remedi with an
invoice discounting facility, £250,000 to release its security over Remedi's
assets.

 

On 10 March, in anticipation of entering into the Deed of Novation (as defined
below) and the completion of the acquisition, Mr Drummond incorporated New
Performance Health Limited ("NPH"), a holding company for a lease over new
premises in Runcorn ("New Premises") from which the Remedi pharmacy business
will operate, at a cost of approximately £1,000.  NPH entered into the new
lease on 8 April 2026.

 

On 28 April 2026, Remedi, Remedi's administrators, Mr Drummond and Medpal
Limited entered into a deed of novation ("Deed of Novation") pursuant to which
Medpal Limited replaced Mr Drummond as the purchaser in the SPA, the SPA was
completed and Medpal Limited acquired the Remedi pharmacy business.  On
completion of the SPA, Medpal Limited reimbursed Mr Drummond's total costs of
£280,000 and pursuant to the terms of the SPA, paid Remedi the final sum of
£30,000. Following completion of the SPA, Mr Drummond has agreed to transfer
the ownership of NPH to the Company at cost and Medpal Limited will enter into
an intragroup transfer agreement to transfer the pharmacy business to NPH (the
"Pharmacy Business Reorganisation"). On completion of the Pharmacy Business
Reorganisation, the MedPal Group will comprise the Company and its wholly
owned subsidiaries, Medpal Limited and NPH.

 

Related party transaction

Entering into the Deed of Novation together with the transfer of NPH to the
Company (together, the "Transaction") constitutes a related party transaction
under the AIM Rules.  With the exception of Jason Drummond as a related
party, the Company's directors consider, having consulted with the Company's
nominated adviser, Cairn Financial Advisers LLP, that the terms of the
transaction are fair and reasonable insofar as the Company's shareholders are
concerned.

 

MedPal AI Pharmacy Strategy

Patient Reactivation Strategy - Universal Pharmacy

Following acquisition of the Universal Pharmacy assets in October 2025, the
Swaffham facility scaled dispensing from zero through a coordinated programme
of (i) direct NHS nomination outreach to reinstate Medpal Limited as each
patient's chosen pharmacy, (ii) structured care home re-contracting, (iii)
service uplift via BD Rowa and Omnicell robotic dispensing (c.99.9% accuracy)
and 24/7 same/next-day delivery, and (iv) clinical integration through the
MedPal app and MedPal Health OS. The Company is now applying the same strategy
at significantly greater scale across the Remedi patient and care home book.

 

Path to Pharmacy Breakeven

The Group now operates two GPhC-registered NHS dispensing hubs (Swaffham and
Runcorn) under a common technology, clinical governance and commercial
infrastructure. At their peak in 2024, Runcorn dispensed over 100,000 items
per month and the facility in Swaffham dispensed over 30,000 items per month.
Management forecasts pharmacy-level EBITDA breakeven for the Group at a run
rate of 80,000 items per month and in March dispensed over 40,000. NHS
pharmacy gross margins are in excess of 34%, with strong operating leverage as
fixed costs are absorbed over rising volumes. This is a pharmacy
operating-company metric; Group profitability additionally benefits from
continued growth at MedPal.clinic, MedPal Health OS and the at-home blood test
kit business, each of which complements all of the other elements of the
MedPal Group via customer introduction and data sharing to provide customers
with personalised, real-time healthcare.

 

Jason Drummond, Chief Executive Officer of MedPal AI, commented:

"For a total spend of less than half a million pounds we have secured an NHS
dispensing hub in a strategically critical location with  a patient book that
NHS-verified data shows historically delivered over £10 million of annualised
turnover. We have already proven at Swaffham that our reactivation strategy
works. We are now running that same programme, at materially greater scale,
across the Remedi book. Our pharmacy operations are growing rapidly, currently
dispensing 42,000 items a month and rising, with a mapped path to
pharmacy-level breakeven at 80,000 items a threshold the acquired Runcorn site
alone comfortably exceeded throughout 2024"

 

Vox Markets interviewed Jason Drummond about the acquisition and the interview
can be found at the link below

www.voxmarkets.com/articles/medpal-ai-on-the-road-to-breakeven-7e3a055
(http://www.voxmarkets.com/articles/medpal-ai-on-the-road-to-breakeven-7e3a055)

This announcement contains inside information for the purposes of Article 7 of
EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the
European Union (Withdrawal) Act 2018). The Directors of the Company are
responsible for the contents of this announcement.

Enquiries:

 MedPal AI plc

 Mr Drummond, Chief Executive Officer                    Via Square1 Consulting

 Cairn Financial Advisers LLP                            +44 (0) 20 7213 0880

  (Nominated Adviser)

 Louise O'Driscoll/Jo Turner

 Oak Securities (a trading name of Merlin Partners LLP)  +44 (0) 20 3973 3678

 (Joint Broker)

 Tim Dainton/Calvin Man

 Clear Capital Markets Limited                           +44 (0) 20 3869 6080

 (Joint Broker)

 Bob Roberts

 Square1 Consulting (IR)                                 +44 (0) 20 7929 5599

 David Bick                                              +44 (0) 7831 381201

 

 

About MedPal AI

MedPal AI is a UK-based digital health company building the MedPal Health OS -
a vertically integrated, closed-loop platform spanning AI wellness, clinical
services, and automated pharmacy fulfilment. Its core app aggregates data from
over 100 wearable devices and health apps (including Apple Health, Fitbit,
Garmin, and Whoop) into a unified health profile, offering personalised,
non-clinical lifestyle guidance through its AI wellness coach and acting as
the consumer front door to the Company's clinical and pharmacy services.

 

Through its wholly owned subsidiary MedPal Limited, the Company operates a
24/7 AI-powered automated pharmacy distribution centre, providing nationwide
NHS and private prescription services. The facility leverages BD Rowa VMAX
robotic dispensing technology integrated with AI triage to deliver rapid,
cost-effective medication fulfilment with same-day and next-day delivery
capabilities.

 

MedPal AI has a partnership agreement with Epassi UK Limited, which will, for
a limited time, grant exclusive, zero-cost access to the MedPal AI app across
Epassi's network of 11M+ employees at major firms. The Company's LEI is
984500EDP8B0A14CBA61.

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or
anticipated future events and anticipated results that are forward-looking in
nature and, as a result, are subject to certain risks and uncertainties, such
as general economic, market and business conditions, competition for qualified
staff, the regulatory process and actions, technical issues, new legislation,
uncertainties resulting from potential delays or changes in plans,
uncertainties resulting from working in a new political jurisdiction,
uncertainties regarding the results of exploration, uncertainties regarding
the timing and granting of prospecting rights, uncertainties regarding the
timing and granting of regulatory and other third party consents and
approvals, uncertainties regarding the Company's or any third party's ability
to execute and implement future plans, and the occurrence of unexpected
events.

 

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