Kyivstar, Ukraine’s largest telecommunications operator, has signed an agreement to increase its stake in Helsi, the country’s largest digital healthcare platform, from 69.99% to 97.99%, in line with its global strategy to develop its digital operator business model.
“The signing of the agreement will not affect Helsi’s operations. The company will retain its current management model under the leadership of co-founders Yevgen Donets and Yevgen Gubich and will continue to work on the development of e-health in Ukraine with its entire team,” Kyivstar said in a press release on Thursday.
Another co-founder of the Helsi project, Samvel Akobyan, will retain a strategic presence on the Supervisory Board, the statement said.
According to the press release, since the initial signing of the agreement between Helsi and Kyivstar in August 2022, shareholders have invested approximately UAH 240 million in the development of Helsi as of the end of March 2025. In 2023-2024, the company’s annual revenue increased by approximately 40% compared to the previous year, and the number of employees grew from 160 to almost 240 between December 2022 and December 2024.
“A new stage of partnership and increased investment in Helsi will allow us to accelerate the development of new business areas in the field of eHealth and strengthen opportunities for synergies,” Kyivstar CEO Alexander Komarov said in a press release.
It is noted that as of early 2025, Helsi had registered about 29 million patients. Between December 2022 and December 2024, the number of app users increased 2.5 times. In March 2025, about 229,000 appointments with doctors were made daily through the service, and the number of app downloads exceeded 10 million. The total number of appointments for 2024 exceeded 9 million. During 2024, more than 1,600 public and private clinics collaborated with Helsi. The number of medical personnel using the system in 2024 exceeded 60,000 employees throughout Ukraine, which is 26% more than in 2022.
According to YouControl, Helsi’s net income in 2024 increased by 36% compared to the previous year, to UAH 207.76 million, while net losses decreased 6.6 times, to UAH 3.56 million.
According to the financial statements published by its parent company VEON, Kyivstar increased its revenue last year by 11% compared to 2023, to UAH 37.27 billion, increasing capital investments by 60.7%, to UAH 10.22 billion.
