MedPal AI (LSE:MPAL) has raised approximately £5.0 million through a discounted share placing priced at 3.5 pence per share. The fundraising also includes the issue of additional shares to settle certain fees, increasing the company’s total issued share capital to almost 770 million shares. Backed by existing institutional investors and new participants, the proceeds are expected to strengthen working capital while supporting record NHS dispensing volumes handled through the group’s low-cost robotic pharmacy distribution hub.
A significant portion of the new funding will be used to acquire Solid State Technologies, a profitable provider of electronic medicines administration record (eMAR) software. The acquisition is intended to complete MedPal AI’s integrated care-home medication platform, covering the full process from prescribing through to medicines reconciliation. The company also plans to invest up to approximately £3.0 million to secure product inventory and attract patients ahead of the UK launch of oral Wegovy, while expanding its senior marketing team to accelerate growth in its private weight-loss business. The strategy is centred on three core growth areas: NHS pharmacy services, care-home technology and GLP-1 weight management.
More about MedPal AI Plc
MedPal AI Plc is a UK-based digital healthcare and artificial intelligence company specialising in pharmacy services, medication management for care homes and subscription-based weight-loss clinics. The group operates an integrated platform that combines robotic NHS prescription dispensing, electronic medicines administration record software and private GLP-1 obesity treatment services for patients in the UK and international markets.
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