Placing to raise £3m

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) Louise O'Driscoll/Jo Turner	[phone]
Oak Securities (a trading name of Merlin Partners LLP) Tim Dainton/Calvin Man	[phone]
Clear Capital Markets Bob Roberts	[phone]
Square1 Consulting David Bick	[phone] [phone]

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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