24th Aug 2026 16:30
(Alliance News) - EDX Medical Group PLC on Monday said it has raised GBP2.7 million through a share subscription at 14 pence per share.
The Cambridge, England-based developer of digital diagnostic products and services said the funding will be used to support the expansion of its new employee health screening service.
Shares in EDX Medical rose 23% to 12.00 pence on Monday in London.
The company said discussions on definitive contracts are progressing well for the provision of the health screening service to three significant UK employers. Testing is expected to begin in the fourth quarter of 2026. Two further large companies have approached EDX Medical to explore the provision of the service, with discussions ongoing.
EDX Medical said it had deferred recognition of GBP860,000 in revenue into the current financial year, after previously expecting to record revenue of GBP1.2 million for the year ended March 31, 2026. The company said this was because processing of the orders extended beyond the end of the financial year.
Founder Chris Evans said: "Investors in the company have again demonstrated their confidence in the company's strategy to provide class-leading diagnostic tests and fully support the expansion of our employee health screening programme where employers and employees can both reap the benefits of highly accurate tests which assess risks across a very wide range of health conditions and illnesses."
By Niall Holden, Alliance News reporter
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