Veeva Systems announced that it has acquired Ostro, an AI-driven brand engagement platform designed for the life sciences industry, in a transaction valued at approximately $100 million in cash along with long-term equity retention grants.
Ostro provides conversational AI capabilities that allow patients and healthcare professionals to receive immediate, compliant answers through an interactive chat experience on pharmaceutical brand websites. The platform enables users to ask questions and access approved information, resources, and next steps in real time.
The system combines conversational AI, semantic search, and industry-specific guardrails to ensure responses are drawn from MLR-approved materials. The platform is designed to avoid generating novel responses or “hallucinations,” instead providing answers based strictly on approved content.
In addition to delivering compliant responses, Ostro collects engagement data from these interactions. Pharmaceutical brands can analyze this data to gain deeper insights into customer behavior and improve digital outreach and engagement strategies.
Following the acquisition, Ostro will continue operating as an independent unit led by CEO Chase Feiger. Over time, Veeva plans to integrate Ostro’s capabilities with its Commercial Cloud applications, connecting digital brand interactions with field engagement workflows to create more unified customer experiences across life sciences organizations.
Veeva said the combination will help companies provide easier access to accurate medical information while supporting more personalized and efficient engagement with patients and healthcare professionals.
The acquisition is part of Veeva’s broader effort to expand AI-powered solutions within its industry cloud platform for life sciences companies, which currently serves more than 1,500 customers ranging from large biopharmaceutical firms to emerging biotech companies.
KEY QUOTES
“AI has changed how people get information. It’s no longer about how much information you can put out there, it’s about how easy it is for customers to get answers. Ostro is leading the way in helping brands ensure patients and doctors have instant access to accurate information. We’re excited to welcome Ostro to the Veeva team as we shape the future of AI-powered customer engagement.”
Peter Gassner, CEO Of Veeva Systems
“We’re focused on shortening the time it takes to identify and treat health conditions. Brand content should be effortless to access and fully compliant by design. We built Ostro to remove friction so patients and doctors can get trusted answers with less clicking, thinking, and scrolling. With Veeva, we can bring that experience to many more patients, doctors, and brands.”
Chase Feiger, MD, CEO Of Ostro
