14-year-old schoolboy Taylor Rosenthal rejects £20m offer for his vending machine idea

RecMed will sell vending machines which dispense prepackaged first aid kits for dealing with cuts, blisters and sun burns

Taylor Rosenthal, 14, demonstrates one of his RecMed first aid vending machines (RecMed)

A 14-year-old boy who came up with the idea of a first aid kit dispensing vending machine says he has turned down a substantial buyout offer.

Taylor Rosenthal, from Alabama, rejected a $30 million (£20 million) offer from a "large national healthcare company" to sell his idea.

He has already raised $100,000 (£69,000) in angel investments and plans to sell the machines for $5,500 (£3,830) each. He also said he is open to advertising on the machines.

His startup, RecMed, will sell vending machines which dispense prepackaged first aid kits for dealing with cuts, blisters and sun burns.

Taylor came up with the idea in a Young Entrepreneurs Academy class.

He told CNN Money: "Every time I'd travel for a baseball tournament in Alabama, I'd notice that kids would get hurt and parents couldn't find a band-aid.

"I wanted to solve that."

The machines will sell prepackaged first-aid kits (costing between £4 and £11) and also individual supplies, like plasters, rubber gloves and gauze pads (for £4 to £14 pounds).

Taylor hopes to start delivering the machines to amusement parks, beaches and stadiums over the summer.

Six Flags theme park has already put in an order for 100 machines.