Kyivstar, the largest mobile operator, announced the price of its May buyout of 28% of the digital healthcare platform Helsi, which allowed it to increase its stake from 69.99% to 97.99% for $11 million.
According to Kyivstar’s SEC report, this involves 26.9% of the shares of Ukrainian Investment Platform LLC and 1.1% of the shares of other minority shareholders.
It is noted that at the same time, previously concluded put and call option agreements for 30.01%, valued at $10 million at the end of March, were terminated and new agreements were concluded on the same terms for the remaining 2.01% of shares.
Kyivstar recalled that in August 2022, it acquired a controlling stake in Helsi of 69.99% for $15 million.
Helsi’s revenue for 2024 increased by 48% compared to 2023, to $5.1 million.
The report also mentions for the first time Kyivstar’s $2 million acquisition last September of LanTrace (Boryspil), a regional provider of fixed broadband Internet access in the Kyiv region.
According to YouControl, Samvel Akopian owns 96.3% of Ukrainian Investment Platform LLC, with Artem Mikhailiuk owning the remaining 3.7%.
Helsi is a digital data management platform that supports the provision of medical services by healthcare institutions and doctors and improves patient access to medical care, in particular by simplifying remote consultations and appointment scheduling, as well as medical data storage. As of January 1, 2025, the company had approximately 29 million registered patients with access to 1,600 public and private clinics and over 60,000 medical professionals. As of the end of 2024, the Helsi app had been downloaded by 10 million users, 2.5 times more than two years earlier.
As reported, the AMCU this week began considering Kyivstar’s application to purchase the owner of the online service Tabletki.ua, emphasizing that the combined share of the participants in the concentration in one of the markets involved in the concentration may exceed 35%. Kyivstar submitted its first application to acquire MTPC in November 2024, but the committee rejected it as not complying with the requirements of the regulations on the procedure for considering applications and cases concerning the concentration of business entities.
According to Kyivstar CEO Alexander Komarov, Kyivstar plans to achieve a 10% share of revenue from non-telecommunications businesses – Uklon, Kyivstar TV, Helsi, as well as cloud services and Big Data services – by the end of 2025.
