Ukrainian medtech startup DrugCard made its first acquisition: a Latvian company joined the team
DrugCard has acquired Latvian SIA OOM, which specializes in pharmacovigilance in the Baltic countries and has over 20 years of experience.
DrugCard has acquired Latvian SIA OOM, which specializes in pharmacovigilance in the Baltic countries and has over 20 years of experience.
Ukrainian medtech startup DrugCard has completed its first M&A deal, fully buying out the shares of the Latvian company SIA OOM, Vector reports .
Negotiations on the acquisition lasted three months; the parties did not disclose the value of the deal. According to DrugCard CEO Dmytro Horilyk, the company plans further scaling in Europe and is already looking for new acquisition targets among European drug safety services.
“The strategy is to use our own technologies and AI agents to significantly improve the quality of services of local players, which will allow them to grow faster together with DrugCards,” says Dmytro.
Currently, the DrugCard startup is in the Seed stage and serves 60 B2B clients. The company is showing steady growth: in early 2026, its annual recurring revenue (ARR) exceeded $1 million. The project team consists of 30 specialists, and its activities cover the EU, Middle East, and Canadian markets. At the same time, the business has become predominantly export-oriented, with 75% of revenue generated by international markets.
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