MedPal AI strikes deal with Independent Gyms to give free app access
MedPal AI PLC on Tuesday said it has entered a partnership with Independent Gyms Ltd to give members free access to the MedPal AI app.
London-based MedPal provides an app that aggregates health data from smartphones and wearable devices to provide AI-generated wellness support for users.
Late last month, the company raised £2.0 million in its initial public offering from an institutional placing and retail offer at 4 pence per share, giving it an opening market capitalisation of £16.5 million, as planned.
Shares in MedPal AI were down 1.0% at 9.65 pence in London on Tuesday afternoon. The stock is up 48% since the IPO on August 26.
After a free 12-month access period, members who wish to continue using the app will be required to subscribe. Prices will start at £2.99 a month, MedPal AI noted.
It said Independent Gyms will be entitled to 25% commission on subscriptions from its members after the end of the free access period.
‘The partnership with Independent Gyms will bring our AI health app to thousands of users, supporting MedPal’s early-mover positioning in the fast-growing UK fitness and wearables market. The collaboration aims to make advanced AI wellness tools accessible, helping independent gyms improve members’ experiences and boost client retention,’ said MedPal AI Chief Executive Officer Jason Drummond.
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