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MedPal AI, the health technology firm that in late 2025 took on the running of two insolvent distance-selling pharmacies, has raised £3m “to accelerate its next phase of growth”.

The funds, which have come via the issuing of 120 million shares priced at 2.5 p per share, are “expected to support the company’s operational rollout and pathway to profitability,” it said in a statement today.  

MedPal has allocated £1.3m of the money to marketing and patient acquisition, and also plans to invest in NHS dispensing capacity and expansion of its care home services, as well as in its staffing, infrastructure and robotic dispensing.  

“We’re entering a key growth phase — focused on scaling efficiently, strengthening our commercial pipeline, and progressing towards profitability,” it said.  

MedPal bought Universal Pharmacy and took on the running of Remedi Solutions through a novation agreement towards the end of 2025, paying bargain prices for both businesses after they had run into serious financial difficulty. 

The company said: “MedPal AI is entering the next phase of its growth with significant operational momentum. The Company's vertically integrated model - combining NHS pharmacy dispensing, a scaling private weight-loss clinic, AI-powered consumer healthcare, and B2B care home supply - is delivering record volumes, expanding gross margins, and an increasingly visible pathway to profitability.

“With the proceeds of the Placing, the Board believes MedPal AI is well positioned to execute its operational plan, convert its commercial pipeline, and build on the substantial momentum established over the past twelve months. The Board looks forward to updating the market on further progress over the coming weeks and months.”

MedPal CEO Jason Drummond added: "This £3 million fundraise is a significant milestone for MedPal. It substantially strengthens our balance sheet and positions us to capitalise on the extraordinary growth we are seeing across every part of our business.

"Our NHS pharmacy operations are dispensing at record volumes, our weight-loss clinic is scaling rapidly with the backing of direct supply agreements with Eli Lilly and Novo Nordisk, and our consumer app and clinical triage platform, MedPal Health OS, is attracting significant commercial interest. We have a number of material commercial conversations in progress which this funding will enable us to convert and deliver.

"I would like to thank our existing shareholders for their continued support and welcome our new investors. We are also delighted to welcome OAK Securities as joint broker. Their institutional reach and conviction in our strategy will be invaluable as we move into the next phase of growth."