REG - Medpal AI PLC - Placing to raise £3m

Medpal AIAnnouncement

17/04/2026 07:00

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RNS Number : 8433A  Medpal AI PLC  17 April 2026

17 April 2026

 

MedPal AI plc

("MedPal AI" or the "Company")

 

Placing to raise £3 million

Funding to accelerate MedPal's scale-up towards profitability

MedPal AI Plc (AIM: MPAL, FRA: Z1N), the UK digital health and AI company, is
pleased to announce that it has conditionally raised gross proceeds of £3
million (the "Placing") through the issue of 120,000,000 new ordinary shares
of £0.0002 each (the "Placing Shares") at a price of 2.5 pence per share (the
"Placing Price"). The Placing has been arranged by OAK Securities as sole
broker to the Placing.

The Placing has been strongly supported by a number of new institutional
investors, reflecting confidence in the Company's operational momentum,
expanding commercial pipeline, and clear pathway to profitability.

Highlights

•     Gross proceeds of £3.0 million raised at 2.5 pence per share

•     Substantially funds the Company's growth plan - proceeds expected
to support the Company's operational roll-out and pathway to profitability

•     Accelerates scale-up of the MedPal weight-loss clinic (GLP-1
platform), the UK's fastest-growing segment of private healthcare

•     Supports working capital to meet rapidly rising NHS dispensing
volumes (record 41,600 items dispensed in March 2026) and care home portfolio
growth

•     Enables delivery of a number of significant commercial
partnerships currently under advanced discussion

•     Strengthens balance sheet and provides operational headroom to
capitalise on further strategic opportunities as they arise

•     New broker appointment: OAK Securities joins the Company as joint
broker alongside Clear Capital Markets Limited, bringing enhanced
institutional distribution capability

Use of Proceeds

Recently the Company has undertaken a number of smaller fundraises which were
necessary to support its capital expenditure into robotics at its distribution
facility and to acquire sufficient stock to meet the strong and increasing
demand it is experiencing for prescription fulfilment.

The proceeds of this Placing will be deployed to accelerate MedPal's growth
strategy and support the Company's continued progress towards profitability.
Key allocations include:

•     Marketing and patient acquisition (c.£1.3m): scaling
MedPal.clinic, the Company's private weight-loss clinic, to capture share of
the rapidly growing UK GLP-1 market. Strong sales to date have been achieved
without any investment in this area.

•     Working capital (c.£0.8m): supporting higher stock levels and a
wider product range to meet record NHS dispensing volumes and care home
portfolio expansion

•     Team expansion (c.£0.5m): investment in senior commercial,
clinical and operational hires to support the Company's growth and commercial
pipeline

•     Capital expenditure (c.£0.15m): completion of robotic dispensing
capacity expansion at the Runcorn hub

•     Corporate and transaction costs (c.£0.25m): including fees and
general corporate purposes

Details of the Placing

The Placing Price of 2.5 pence per Placing Share represents a discount of
approximately 13 per cent. to the closing mid-market price of 2.8 pence per
Ordinary Share on 16 April 2026 (being the latest practicable date prior to
this announcement).

The Placing Shares will, when issued, rank pari passu in all respects with the
existing ordinary shares of the Company, including the right to receive all
dividends and other distributions declared, made or paid after their date of
issue.

Application will be made to the London Stock Exchange for the Placing Shares
to be admitted to trading on AIM ("Admission"). It is expected that Admission
will become effective and dealings in the Placing Shares will commence at 8.00
a.m. on 22 April 2026.

Following Admission, the Company's issued ordinary share capital will consist
of 612,441,036 ordinary shares of £0.0002 each, with one voting right per
share. No ordinary shares will be held in treasury. The total number of voting
rights in the Company following Admission will therefore be 612,441,036, which
figure may be used by shareholders as the denominator for the calculations by
which they will determine if they are required to notify their interest in, or
a change to their interest in, the Company under the FCA's Disclosure Guidance
and Transparency Rules.

The Placing is conditional upon, amongst other things, Admission becoming
effective.

As part of OAK Securities' engagement, OAK Securities has been granted
warrants to subscribe for 7,200,000 new ordinary shares, exercisable at the
Placing Price for a period of 36 months from the date of Admission.

Outlook

MedPal AI is entering the next phase of its growth with significant
operational momentum. The Company's vertically integrated model - combining
NHS pharmacy dispensing, a scaling private weight-loss clinic, AI-powered
consumer healthcare, and B2B care home supply - is delivering record volumes,
expanding gross margins, and an increasingly visible pathway to profitability.

With the proceeds of the Placing, the Board believes MedPal AI is well
positioned to execute its operational plan, convert its commercial pipeline,
and build on the substantial momentum established over the past twelve months.
The Board looks forward to updating the market on further progress over the
coming weeks and months.

 

Jason Drummond, Chief Executive of MedPal AI, commented:

"This £3 million fundraise is a significant milestone for MedPal. It
substantially strengthens our balance sheet and positions us to capitalise on
the extraordinary growth we are seeing across every part of our business.

"Our NHS pharmacy operations are dispensing at record volumes, our weight-loss
clinic is scaling rapidly with the backing of direct supply agreements with
Eli Lilly and Novo Nordisk, and our consumer app and clinical triage platform,
MedPal Health OS, is attracting significant commercial interest. We have a
number of material commercial conversations in progress which this funding
will enable us to convert and deliver.

"I would like to thank our existing shareholders for their continued support
and welcome our new investors. We are also delighted to welcome OAK Securities
as joint broker. Their institutional reach and conviction in our strategy will
be invaluable as we move into the next phase of growth."

 

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

 Jason Drummond, Chief Executive Officer                     Via Square1 Consulting

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

 Louise O'Driscoll/Jo Turner

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

 Tim Dainton/Calvin Man

 Clear Capital Markets                                       +44 (0) 20 3869 6080

 Bob Roberts

 Square1 Consulting                                          +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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