20th Aug 2025 14:08
(Alliance News) - Digital health platform MedPal AI PLC on Friday confirmed will list on the AIM market in London on Tuesday next week.
There have been 13 initial public offerings on the junior market so far in 2025. MedPal AI will become the 14th new listing. On Tuesday, acquisition vehicle Vulcan Two Group PLC announced plans for an early September IPO, which will make it the 15th.
MedPal is a London-based technology firm that aggregates health data from smartphones and wearable devices to provide AI-generated wellness support.
On Wednesday, it confirmed it is targeting a market capitalisation of GBP16.5 million at its IPO price, which will be 4 pence a share. MedPal expects to raise GBP1.6 million in an institutional share placing as part of the IPO, plus GBP360,000 from a retail share offer via the Winterflood retail access platform. It will have 413.1 million shares in issue upon its listing.
The company operates on a direct-to-consumer, subscription-fee basis. It runs an application collecting customer data from third-party apps and devices such as Apple Health, FitBit, Garmin and Google Fit.
MedPal specifies that its services are "non-clinical" and that it "does not provide medical advice but signposts users to appropriate care when needed".
The firm has a partnership with the UK branch of the Epassi, a Helsinki-based employee health benefits platform, which will offer its users a free 12-month MedPal membership. MedPal aims "to expand quickly into other territories including the US" through business-to-business licensing deals and insurance channel bundling.
MedPal's largest shareholder is Chief Executive Jason Drummond, who owns 46.8% of the company, which is expected to dilute to 42.17% upon admission to AIM. Executive Director Justin Drummond's 10.33% stake will dilute to 9.30%.
Clear Capital Markets Ltd is broker to MedPal, and Cairn Financial Advisers LLP is its nominated advisor.
By Tom Waite, Alliance News editor
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