Veeva Systems (NYSE:VEEV) announced on Tuesday the acquisition of Ostro, a premier brand engagement platform tailored for the life sciences industry.
The deal, valued at approximately $100 million in cash plus long-term equity retention grants, underscores Veeva’s commitment to embedding advanced AI and automation within its clinical and commercial ecosystems.
Ostro has distinguished itself in the health-tech space by solving one of the most persistent challenges in life sciences: providing immediate, real-time answers to complex medical questions while remaining strictly compliant with medical, legal, and regulatory (MLR) standards.
The platform utilizes AI-driven conversational tools to deliver MLR-approved responses to both patients and healthcare providers, ensuring that every interaction is both informative and audit-ready.
Under the terms of the agreement, Ostro will continue to operate as an independent business unit.
The division will be led by its current CEO, Chase Feiger, who will report to Veeva’s leadership structure.