LONDON: MedPal AI (AIM: MPAL, FRA: Z1N), the AI-powered, integrated digital health company, announces that is has acquired a second pharmacy facility to support the growth in its pharmacy operations through its wholly owned subsidiary, MedPal Limited.
Medpal Limited has acquired the facility in Runcorn UK from Remedi Solutions Limited (in administration) (“Remedi”) for total cash consideration of £310,000.
NHS verified data for the acquired Runcorn site shows 1 million prescription items dispensed in calendar year 2024, equating to historical annualised turnover of approximately £10 million at current NHS average item values.
Background to the acquisition
Remedi, operating from leased premises in Runcorn, was incorporated in June 2012 and was a provider of specialist pharmaceutical services including NHS prescription dispensing and delivery, principally to the care home sector.
On 6 December 2024, Remedi entered into administration. In October 2025, Jason Drummond entered into a conditional sale and purchase agreement (“SPA”) with the Administrators to acquire Remedi’s trade and assets for which the Administrators (Nick Harris and Lucinda Coleman, of PKF Francis Clark), were paid £30,000 to secure the right. Under the terms of the SPA, Mr Drummond had the right to novate his interest in the SPA and his right to acquire the Remedi pharmacy business. Pursuant to the requirements of an S26 pharmacy licence, in order to preserve the existing trade and pharmacy licence, Medpal Limited was appointed as the Responsible Person to operate the pharmacy business. Since this time, MedPal Limited has accordingly already received some economic benefit.
In addition to securing the rights to the acquisition, Mr Drummond paid Castlebridge Finance Limited, which had previously provided Remedi with an invoice discounting facility, £250,000 to release its security over Remedi’s assets.
On 10 March, in anticipation of entering into the Deed of Novation (as defined below) and the completion of the acquisition, Mr Drummond incorporated New Performance Health Limited (“NPH”), a holding company for a lease over new premises in Runcorn (“New Premises”) from which the Remedi pharmacy business will operate, at a cost of approximately £1,000. NPH entered into the new lease on 8 April 2026.
On 28 April 2026, Remedi, Remedi’s administrators, Mr Drummond and Medpal Limited entered into a deed of novation (“Deed of Novation”) pursuant to which Medpal Limited replaced Mr Drummond as the purchaser in the SPA, the SPA was completed and Medpal Limited acquired the Remedi pharmacy business. On completion of the SPA, Medpal Limited reimbursed Mr Drummond’s total costs of £280,000 and pursuant to the terms of the SPA, paid Remedi the final sum of £30,000. Following completion of the SPA, Mr Drummond has agreed to transfer the ownership of NPH to the Company at cost and Medpal Limited will enter into an intragroup transfer agreement to transfer the pharmacy business to NPH (the “Pharmacy Business Reorganisation”). On completion of the Pharmacy Business Reorganisation, the MedPal Group will comprise the Company and its wholly owned subsidiaries, Medpal Limited and NPH.
Related party transaction
Entering into the Deed of Novation together with the transfer of NPH to the Company (together, the “Transaction”) constitutes a related party transaction under the AIM Rules. With the exception of Jason Drummond as a related party, the Company’s directors consider, having consulted with the Company’s nominated adviser, Cairn Financial Advisers LLP, that the terms of the transaction are fair and reasonable insofar as the Company’s shareholders are concerned.
MedPal AI Pharmacy Strategy
Patient Reactivation Strategy – Universal Pharmacy
Following acquisition of the Universal Pharmacy assets in October 2025, the Swaffham facility scaled dispensing from zero through a coordinated programme of (i) direct NHS nomination outreach to reinstate Medpal Limited as each patient’s chosen pharmacy, (ii) structured care home re-contracting, (iii) service uplift via BD Rowa and Omnicell robotic dispensing (c.99.9% accuracy) and 24/7 same/next-day delivery, and (iv) clinical integration through the MedPal app and MedPal Health OS. The Company is now applying the same strategy at significantly greater scale across the Remedi patient and care home book.
Path to Pharmacy Breakeven
The Group now operates two GPhC-registered NHS dispensing hubs (Swaffham and Runcorn) under a common technology, clinical governance and commercial infrastructure. At their peak in 2024, Runcorn dispensed over 100,000 items per month and the facility in Swaffham dispensed over 30,000 items per month. Management forecasts pharmacy-level EBITDA breakeven for the Group at a run rate of 80,000 items per month and in March dispensed over 40,000. NHS pharmacy gross margins are in excess of 34%, with strong operating leverage as fixed costs are absorbed over rising volumes. This is a pharmacy operating-company metric; Group profitability additionally benefits from continued growth at MedPal.clinic, MedPal Health OS and the at-home blood test kit business, each of which complements all of the other elements of the MedPal Group via customer introduction and data sharing to provide customers with personalised, real-time healthcare.
Jason Drummond, Chief Executive Officer of MedPal AI, commented:
“For a total spend of less than half a million pounds we have secured an NHS dispensing hub in a strategically critical location with a patient book that NHS-verified data shows historically delivered over £10 million of annualised turnover. We have already proven at Swaffham that our reactivation strategy works. We are now running that same programme, at materially greater scale, across the Remedi book. Our pharmacy operations are growing rapidly, currently dispensing 42,000 items a month and rising, with a mapped path to pharmacy-level breakeven at 80,000 items a threshold the acquired Runcorn site alone comfortably exceeded throughout 2024”