Pri0R1Ty Intelligence acquires healthcare technology company Pirkx

Pri0r1ty Intelligence Group PLC shares rose on Friday after it announced the acquisition of Pirkx Ltd for £50,000.

Shares in London-based Pri0r1ty, a software-as-service company focused on artificial intelligence, were up 5.5% to 1.16 pence in afternoon trading.

Pri0r1ty said it had bought the operating assets and technology platforms of Pirkx, a platform providing wellbeing and healthcare services to small and medium enterprises' employees, from administrators BTG Begbies Traynor London LLP.

Pri0r1ty said the agreement includes an initial cash payment of £50,000 for the assets, as well as a capped £350,000 royalty payment of 4% of revenue for a period of five years following the acquisition date. The royalty is payable quarterly and Pri0r1ty said the deal would be funded by its current cash resources.

Pri0r1ty Chief Executive Officer Rory Maxwell said: "The acquisition of Pirkx represents a pivotal step in our growth strategy. Pirkx built an incredible product proposition with thousands of active SME users, but like many growing platforms, it faced administrative and operational scale friction. By applying Pri0r1ty's proprietary AI automation stack-Vox, Advisor, and Compass ID-we believe we can eliminate cost inefficiencies, unlock the active pipeline, and turn Pirkx into a strong revenue-generating division."

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