8th Oct 2026 15:12
Medpal AI PLC - London-based digital health and AI company - Says its New Health arm delivered "record trading" on Monday, dispensing over 2,300 prescription orders worth approximately GBP300,000. Notes marketing costs and discounts go towards customers' first orders, but that since July, "repeat orders at every order cycle have generated a positive margin after the cost of medication, and that margin increases from the second order onwards." It expects these to "make a growing contribution" to cashflow as more customers stay beyond introductory orders. Furthermore, Medpal says "a non-bank lender" has sent an indicative term sheet for GBP8 million in funding, and talks continue "with UK clearing banks and specialist lenders regarding a facility secured on the group's receivables." Also highlights its "strong liquidity position," reporting cash, near cash and stock of approximately GBP6.4 million as of Tuesday.
Medpal confirms that no equity fundraising has been agreed and none is planned, with its GBP5 million placing in September having been "predominantly taken up by existing shareholders...and settled in full." Says it is calling a general meeting as share allotment authorities have been exhausted, and it seeks to "restore the ordinary authorities that a company of MedPal's size would normally hold until its next annual general meeting, such that the warrants can be issued and also to give the company the flexibility...to raise further funds or to issue shares as consideration for an acquisition...before its next annual general meeting."
Current stock price: 6.27 pence, up 8.5% on Thursday in London
12-month change: down 30%
By Emma Curzon, Alliance News reporter
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