The Antimonopoly Committee of Ukraine (AMCU) has, on its third attempt, granted approval to the country’s largest mobile operator, Kyivstar, to acquire the service Tabletki.ua. The decision was adopted on January 29 and concerns the acquisition of control over MTPK LLC, the legal entity that owns the Tabletki.ua brand. In its official statement, the AMCU noted that Kyivstar JSC received clearance for the concentration, effectively opening the way for the deal to be finalized.
Tabletki.ua is one of the most popular online pharmaceutical services in Ukraine, with around 10 million users per month. The platform was founded by the Muravshchyk family — Oleksandr and Nataliia — together with partners, and operates as an aggregator that allows users to search for medicines in pharmacies, compare availability and prices, and reserve drugs for subsequent offline purchase.
According to an assessment by the analytics team at Forbes Ukraine published about a year ago, the value of Tabletki.ua could range from $30 million to $80 million. This wide range is explained by the exceptionally high profitability of the business: the company’s net margin over the 12 months preceding the valuation reached 89%. Analysts noted that finding comparable levels of profitability among similar services globally is virtually impossible.
The scale of Tabletki.ua’s business is also significant. In 2024, around 12,000 pharmacies and retail outlets cooperated with the platform, accounting for nearly 70% of Ukraine’s entire pharmaceutical retail market. According to Forbes Ukraine, citing Yevhen Muravshchyk, medicines worth approximately UAH 25 billion were sold through the service in 2023. Tabletki.ua’s revenue model is based on a 2% commission on each sale. According to YouControl data, MTPK LLC generated revenues of UAH 715 million in 2024, almost double the figure recorded in 2023.
Kyivstar’s path to acquiring Tabletki.ua was not straightforward. The AMCU rejected the operator’s applications twice. The first application was submitted in November 2024 but was returned due to non-compliance with the requirements of the Regulation on the Procedure for Reviewing Applications. The second attempt, made in February 2025, was also unsuccessful. Only on the third attempt — following the submission of a new application on July 7 — did the operator manage to obtain regulatory approval, as the AMCU reported in its response to a Forbes Ukraine inquiry dated July 23.
Kyivstar’s interest in medical and digital services is not new. The development of this area has been in the company’s strategic focus since 2020, when the operator acquired a 69.99% stake in the medical platform Helsi for UAH 555.7 million. The acquisition of Tabletki.ua fits logically into Kyivstar’s broader strategy to expand its ecosystem of digital and healthcare services around its core telecommunications business.
