Nelson Advisors referenced by Clear Capital Markets in their MedPal AI Broker Note

Nelson Advisors has been referenced by Clear Capital Markets in their 'MedPal AI: Looking to bulk up the price on weight-loss drive' Broker Note.

Source: https://www.clearcapitalmarkets.co.uk/analysis/medpal-ai-broker-note

Valuations

Medpal EV/Revenue multiple of between 6-8x for the 1Y forward period37

“Dominance of AI and Digital Health: AI is the single biggest driver of valuation premiums. Investors and strategic buyers are focusing on companies with proprietary AI algorithms for diagnostics, drug discovery, or patient care. They are particularly interested in solutions that have been clinically validated and are deeply integrated into existing clinical workflows, creating "workflow lock-in."” Nelson Advisers.

Note 37 https://nelsonadvisors.co.uk/blog/european-medtech-valuation-multiples---september-2025

 nelsonadvisors.co.uk/blog/european-medtech-valuation-multiples---september-2025

Clear Capital Markets

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AI × Robotic Powered Healthcare Ecosystem 

Sometimes there are businesses where the plan is so in the sweet spot and the management is so focused on the opportunity that they progress at a speed which the market at large confuses with a mixed message.

Medpal AI from inception was always about creating a powerful Telehealth vertical and they spotted the opportunity, and grasped it, to enter into the clinical dispensing layer of the healthcare model with the Universal Pharmacy deal4.

From inception, and reviewing their business at IPO, it was obvious to us that MPAL is at the cutting edge of the AI interface. They are all about disrupting models but with a purpose. Too many devices, apps, fragmented data. Healthcare markets and insurers disjointed, all in an era where information and science have never been so prolific and advanced.

The UK market for health is broken. Speak to most people about the NHS system and trying to access their doctor and the lucky ones will have an appointment in two weeks time. Pharmacies are closing or going out of business (over 1,000 since 202638). Manual dispensing has a 2% error rate and chronic disease management is an after thought. This is why the online pharmacy /Telehealth model is growing so quickly.

The first incarnation of Medpal had already identified the data disconnect problem. 1.4bn people globally using digital health tools40, with over 50% of UK adults owning a wearable device41 but with so few joined options where the data leads you down the chain to healthcare delivery. Medpal would look to solve this with the app that was device and operating system agnostic and partnerships to move you down the vertical to telehealth practitioners.

Medpal has evolved significantly in a short space of time. The goal of making wellness and healthcare instantly accessible and affordable for everyone is still the aim and with a focus on rebuilding the UK system. They should be at the front end of this as they have actually moved down the vertical and are focused on patient interaction now. Effectively they are now solving patient healthcare needs and reversing them into health management. The technology platform combined with robotic automation puts Medpal in the upper quadrant of offerings and built to outperform at scale. 

The routes to the MedPal ecosystem have expanded beyond the app to medpal.clinic and WhatsApp interaction with a clinician-trained AI.

Focusing data and behaviours into a centralised dispensing model with 24/7 clinical support and delivery nationwide within a day. They have reached incredible scale in a short time without short-cuts in a regulated health market trying its best to remove bad actors whilst improving customer outcomes.