Kyivstar seeks to gain control over Tabletki.ua: AMCU warns of risks
18 August 18:22
The Antimonopoly Committee of Ukraine (AMCU) has announced that it has started consideration of a case regarding the acquisition of control over LLC MTPK, which owns the online platform Tabletki.ua. This was reported by "Komersant Ukrainian" with reference to the regulator’s website.
According to the materials submitted by the mobile operator, the agreement provides for the acquisition of control over one of the largest services for searching and booking medicines in Ukraine. Tabletki.ua cooperates with more than 12,000 pharmacies, providing users with the opportunity to find and reserve medicines online.
Kyivstar already owns another large digital healthcare platform, Helsi, which provides electronic medical appointments and medical information management services. Both services are active in the healthcare and pharmaceutical sectors, which was the subject of a detailed study by the regulator.
According to the AMC’s preliminary analysis, the aggregate shares of the concentration participants in one of the markets involved in the transaction may exceed 35%. The agency notes that under certain conditions, this situation may lead to monopolization or significant restriction of competition. This creates risks for the pharmaceutical sector: in case of consolidation of the two leading online services, users and pharmacy chains may become dependent on the same ecosystem.
Therefore, the AMCU has warned that it will conduct an in-depth study of the state of competition in the relevant product markets as part of the case. This will include an analysis of the structure of the pharmacy business, digital medical services, and the level of market dependence on the Helsi and Tabletki.ua platforms. The final decision on granting or denying the merger clearance will be made after the completion of this study. The agency emphasizes that if it is proved that the deal restricts competition, it will not enter into force.
Kyivstar is trying to buy Tabletki.ua for the third time: why the deal has not yet been finalized
The previous two attempts to become the owner of the pharmaceutical platform were unsuccessful: first because of formal inconsistencies in the documents, then because of the regulator’s concerns about possible restrictions on competition in the market.
Tabletki.ua is one of the largest online drug reservation services in Ukraine, which cooperates with more than 12 thousand pharmacies. For Kyivstar, this acquisition is a logical step in the development of the digital healthcare ecosystem. The company already controls the Helsi platform, which includes electronic medical appointments and medical data management.
According to YouControl, over the past four years, the company’s revenue has grown more than 14 times, reaching UAH 715.4 million in 2024. The explosive growth of the business indicates its leading status in the market. The service’s main source of income is a 2% commission on sales.
Integration with Tabletki.ua would allow the operator to connect online medicine and pharmacy, creating a full cycle: consultation, prescription, booking of medicines, and subsequently delivery. Kyivstar also has partnership projects with Uklon, which could open up opportunities for fast logistics in the pharmaceutical segment.
Read also: Attempt No. 3: Kyivstar does not give up in its quest to buy Tabletki.ua
Market resistance and the AMCU’s position
The main reason for the deal’s slowdown is the risk of monopolization. According to the AMCU, the combined share of Helsi and Tabletki.ua may exceed 35% in certain market segments. This poses a threat of strengthening one company’s control over key digital healthcare services.
In addition to the regulator, some large pharmacy chains are also against the deal. They fear that dependence on the Kyivstar ecosystem will make them more vulnerable. According to unofficial information, some pharmacy chains even considered disconnecting their outlets from Tabletki.ua if the acquisition is completed.
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Why it is important for Kyivstar
Kyivstar positions itself not only as a telecom operator, but also as a technology company with a wide portfolio of digital services. In the healthcare sector, the operator invests in areas that can become the basis for a super-app – a single platform for the user’s daily needs.
A successful acquisition of Tabletki.ua would allow the company to consolidate its strong position in e-health and secure market leadership. At the same time, the failure of the deal will call into question the speed of Kyivstar’s medical business development and may open a window of opportunity for competitors.
The second reason is the accumulated profit on the operator’s accounts, which cannot be transferred abroad due to currency restrictions imposed by the NBU. Kyivstar has significant working capital, which amounted to UAH 12.7 billion in October. This money belongs to the owners but cannot be transferred to shareholders. Keeping such funds on the books in an inflationary environment is not advisable. Acquiring promising companies is an alternative to investing profits. Thanks to businesses like Uklon or the Tabletki.ua platform, it is possible to enter international markets even during the war.
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