MedPal AI (LSE:MPAL), the AI‑powered, integrated digital health company, has acquired the Remedi pharmacy business in Runcorn for total cash consideration of £310,000, securing a dispensing hub that NHS data shows handled 1 million prescription items in calendar year 2024.
Medpal completed the purchase by reimbursing vendor-related costs of £280,000 and paying a final £30,000 to Remedi under a deed of novation executed on 28 April, and it will transfer the pharmacy into New Performance Health as part of an intragroup reorganisation.
Remedi operated as a specialist NHS prescription dispenser focused on the care‑home sector from leased premises, and the Runcorn site’s NHS‑verified volumes equate to historical annualised turnover of approximately £10 million.
The cash price implies an acquisition price to historical turnover of roughly 0.03x and the announcement records the consideration as cash without further financing detail.
Management says it will apply the group’s Universal Pharmacy patient reactivation programme at scale to the Remedi book, and CEO Jason Drummond said: "For a total spend of less than half a million pounds we have secured an NHS dispensing hub with a patient book that NHS‑verified data shows historically delivered over £10 million of annualised turnover."
MedPal said group pharmacy dispensing is currently running at approximately 42,000 items a month and that pharmacy‑level EBITDA breakeven is mapped at 80,000 items a month, a threshold the Runcorn site alone exceeded throughout 2024.
The transfer of NPH from Jason Drummond and the novation constituted a related party transaction under the AIM Rules, with the board, after consulting its nominated adviser, regarding the terms as fair and reasonable.
The next milestone is completion of the Pharmacy Business Reorganisation, after which the MedPal Group will comprise MedPal AI, Medpal and New Performance Health Limited.
