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Veeva acquires Ostro to expand AI-driven brand engagement
Veeva Systems has announced the acquisition of Ostro, a life sciences brand engagement platform built around an AI-driven chat experience. The goal is to enable patients and healthcare professionals to receive immediate answers while meeting compliance requirements.
What the platform is designed to do
According to the companies, Ostro-powered brand websites allow users to ask questions and receive information and resources that have been approved for use, along with suggested next steps, in real time. The engagement data generated through these interactions is intended to help brands gain insights and refine reach and engagement.
How Ostro approaches compliance
Ostro is described as combining conversational AI, semantic search, and life sciences-specific rules and guardrails. Responses are intended to be sourced only from MLR-approved materials and not created as novel content.
Deal terms and next steps
Veeva said it acquired Ostro for approximately $100 million in cash, along with long-term equity retention grants. Ostro will continue as an independent unit led by CEO Chase Feiger, MD. Over time, Veeva plans to integrate Ostro with Veeva Commercial Cloud applications to connect online and field engagement in more seamless workflows.
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