REG - Medpal AI PLC - First Day of Dealings

Medpal AIAnnouncement

26/08/2025 07:10

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RNS Number : 6264W  Medpal AI PLC  26 August 2025

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26 August 2025

MedPal AI plc

("MedPal AI" or the "Company")

 

£2m Fundraise, Admission to trading on AIM and first day of dealings

 

MedPal AI plc (AIM: MPAL), a UK-based digital health and artificial
intelligence ("AI") company focused on wellness management, is pleased to
announce the admission of its entire issued share capital, comprising
413,083,335 ordinary shares of 0.02p each, to trading on AIM ("Admission").

 

On Admission, and following a Placing that raised gross proceeds of
£1,639,400  and an oversubscribed Retail Offer that raised £360,600 at 4p
per share, the Company will have a market capitalisation of
approximately £16.52 million.

 

Admission will take place and dealings in the Ordinary Shares will commence at
8:00 a.m. today under the TDIM: 'MPAL' and ISIN GB00BTRC7N37. The Company's
LEI number is 984500EDP8B0A14CBA61.

 

Further information in relation to Admission as well as information required
pursuant to AIM Rule 26 is available on the Company's investor website at
Investor Centre (https://www.medpalplc.com/) .

 

Jason Drummond, Chief Executive Officer of Medpal AI, said:

 

"We are delighted to announce MedPal AI's admission to AIM. This is a key step
to scaling up AI and machine learning insights from aggregated real-time
health data that will provide wellbeing monitoring, lifestyle advice, and
recommended bio-hacks. Surging digital health adoption has created a
significant market opportunity as over 1.3 billion people globally are
expected to use digital health tools such as wearables or health apps in
2025."

 

About MedPal AI

 

Medpal AI is a UK-based digital health and artificial intelligence ("AI")
company focused on wellness management. The Company's core product is a
non-clinical digital health app that aggregates and monitors users' health
metrics and provides wellness guidance.

 

Medpal AI does not provide medical advice but signposts users to appropriate
care when needed. MedPal's app is capable of aggregating data from over 100
wearable fitness trackers or health apps, such as Apple Health, Google Fit,
Whoop, Fitbit and Garmin  into a unified health profile, enabling
personalised lifestyle recommendations through its AI wellness coach.

 

MedPal AI's goal is to use conversational AI (currently in development) to
take wellness assistance to the next level. The Company aims to be one of the
first voice health agents to interact with users in conversational AI, aiming
to achieve human-like levels of interaction and translating raw data into
meaningful insights, fitness and wellbeing alerts. MedPal AI also aims to be
able to notify users to check on their wellbeing, recommend bio-hacks, and
detect risks in real-time.

 

 

MedPal AI has recently entered into an agreement with Epassi  UK Limited
("Epassi") which facilitates the provision of employee benefits to over 11
million people through companies such as Siemens, Volvo, Bosch and RSK Group.
These benefits focus on wellbeing via personal fitness (gym membership),
physical health (private healthcare) and active lifestyle (discounts on
digital fitness, travel, leisure and health food brands). Under the agreement,
for a limited period and subject to specific terms and conditions, Medpal AI
has granted Epassi the exclusive right to offer the app on a zero-cost basis
to Epassi's clients and merchant customers.

 

MedPal AI also intends to pursue business-to-business opportunities by
licensing its platform, which uses AI, to healthcare providers, businesses,
and insurance firms. MedPal AI is focused on fitness type monitoring using AI
which can be bundled with private health insurance plans to reduce premiums.
Insurers may be incentivised to subsidise MedPal AI subscriptions to encourage
risk reduction and lifestyle improvements. Such enterprise partnerships will
potentially allow MedPal to scale via institutional channels and tap into
additional revenue streams, such as licence fees, beyond the consumer app.

 

The Board of Medpal AI

 

Stig Magnus-Karl (Karl) Karlsson, Non-executive Chairman, is a seasoned
technology entrepreneur and venture capitalist, Mr. Karlsson serves as a
General Partner at Sway Ventures, a U.S.-based venture capital firm investing
in early to mid-stage technology companies. He also holds board positions at
Model Medicines and AppliedVR, a company pioneering immersive therapeutics for
pain management. Over a 30-year career, he has founded or co-founded eight
companies, oversaw the IPO of his first tech startup, and has been
instrumental in creating thousands of jobs. Karl brings strategic guidance
from his extensive experience of scaling companies and a network of contacts
in the healthcare innovation space.

 

 

Jason Drummond, Chief Executive Officer,  is a serial tech entrepreneur with
a strong track record in founding and taking companies public, Jason
co-founded the fintech firm FairFX Group PLC (now Equals Group Limited), which
grew into a leading online payments platform and recently achieved a £283
million acquisition exit. He also founded early internet companies such as
Virtual Internet plc (sold to Web.com) and has launched multiple ventures
(e.g. Betex) across fintech and online services. Notably, Jason has led 11
companies through IPOs on global stock exchanges over more than 20 years,
reflecting his experience in driving growth companies to the public markets.
As a co-founder and CEO at MedPal, he oversees corporate strategy and scaling
operations. Jason Drummond is Justin Drummond's brother.

 

 

Justin Drummond, Executive Director, has had 24 years' experience with
publicly listed companies, having been an investor or co-founder of a number
of successful technology, telecoms and investment companies. In addition,
Justin co-founded Gaming Corporation Plc in February 2000, six years after his
first marketing business was established. Justin saw the company admitted to
trading on AIM just a year after its formation via the reverse takeover of
Chrome Technology plc in May 2001. Having started with an initial £500,000
investment, Gaming Corporation rapidly grew to a £50 million market
capitalisation in just four years. In 2012, Justin stepped down from his role
as chairman of two AIM quoted companies, Media Corporation plc and Clear
Leisure plc, to focus on corporate finance. Justin Drummond is Jason
Drummond's brother.

 

 

Adam Monaco, Finance Director, is a member of the Chartered Accountants of
Australia & New Zealand and has over 8 years' experience. Adam began his
career in audit and assurance with RSM Australia where he specialised in
working with SMEs. Whilst working as an external auditor he worked in a
variety of industries including mining, manufacturing and biotech.

Since moving to the UK, Adam has primarily worked with high growth VC backed
tech start-ups. During this time, he used his previous experience to develop
comprehensive solutions for complex financial and operational issues. Adam
graduated from the University of Western Australia with a double degree in
Pharmacology and Accounting/Finance.

 

 

Kevin Sean O'Neill, FRCS, Non-executive Director, is a Senior Consultant
Neurosurgeon and Head of Neurosurgery at Imperial College NHS Trust, with over
three decades of experience at the intersection of medical excellence and
artificial intelligence. Mr Kevin O'Neill, FRCS, is a Senior Consultant
Neurosurgeon at Imperial College Healthcare NHS Trust, where he has over three
decades of experience in neurosurgery, specialising in brain tumours,
neurovascular disease, spine and peripheral nerve surgery. He has played a
leading role in the development of the Brain and Central Nervous System (CNS)
cancer pathway across North West Thames and has been closely involved in
national and international research programmes in neuro-oncology. As a surgeon
who pursues excellence in outcomes and professionalism, he has won the Top
Doctor Award for Neurosurgery in 2017 and 2022 voted for by his peers.

 

Kevin has established and led translational research initiatives, including
the Brain Tumour Research Campaign at Imperial College, and has contributed to
improving surgical outcomes for brain cancer patients in the UK. He has also
pioneered the introduction of advanced technologies such as digital health,
artificial intelligence applications, and intraoperative imaging in
neurosurgical practice.

 

Ends

 

 

Enquiries:

 

Medpal AI
plc
via Square1 Consulting

Jason Drummond, Chief Executive Officer

 

Cairn Financial Advisers
LLP
+44 20 7213 0880

Louise O'Driscoll/Jo Turner

 

Clear Capital Markets
Limited
+44 20 3869 6080

Bob Roberts/ Nick Josh

 

Square1
Consulting
+44 20 7929 5599

David
Bick
+44 7831 381201

 

 

 

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