26th Aug 2025 07:00
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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.
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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Medpal Ai Plc