Kyivstar Acquires Tabletki.ua to Bolster Digital Healthcare Play
Event summary
- Kyivstar Group Ltd. has acquired 100% of Tabletki.ua for USD 160 million, payable in Ukrainian hryvna.
- Tabletki.ua is a Ukrainian digital marketplace for healthcare products, facilitating approximately 14 million bookings monthly.
- The acquisition was completed on February 10, 2026, with Tabletki.ua generating USD 24 million in LTM EBITDA and USD 20 million in LTM net profit as of September 30, 2025.
- The deal represents an 8.0x price-to-earnings (PE) ratio based on Tabletki.ua's LTM net profit.
- Kyivstar and VEON plan to invest USD 1 billion in Ukraine between 2023 and 2027.
The big picture
Kyivstar's acquisition of Tabletki.ua signifies a strategic move to consolidate its position in Ukraine's rapidly expanding digital healthcare market. The deal, valued at USD 160 million, underscores the growing importance of digital platforms in providing access to healthcare services, particularly in a region facing ongoing conflict and logistical challenges. This acquisition complements Kyivstar’s existing digital services portfolio and aligns with the broader trend of telecom operators diversifying into high-growth digital sectors.
What we're watching
- Integration Risk
- The success of the acquisition hinges on Kyivstar’s ability to effectively integrate Tabletki.ua’s operations and technology into its existing digital healthcare platform, Helsi, without disrupting user experience or losing key personnel.
- Market Dynamics
- Given the ongoing geopolitical instability in Ukraine, the long-term viability of Tabletki.ua’s business model and Kyivstar’s investment will depend on the resilience of the Ukrainian healthcare system and consumer behavior.
- Regulatory Scrutiny
- Increased regulatory scrutiny of digital healthcare platforms and data privacy practices in Ukraine could impact Kyivstar’s ability to leverage Tabletki.ua’s data and expand its services.
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