A significant shift in ownership has occurred at Health.ru, a digital health platform operated by the IT company "Health of the City." Konstantin Klyuka, a former pig farmer and coffee supplier from Uganda, has acquired a 45.2% stake in the company. This change comes as former stakeholders, including Timur Sternlib, the ex-IT director of Alfa Group and a former vice-president at Sberbank, as well as Dmitry Vasilyev, a former top manager at Krok, sold their shares. Experts predict a bright future for the project, which follows the model of the American platform Function Health, known for promoting healthy lifestyles and having analyzed data from over three million individuals while attracting nearly $1 billion from investors.
Klyuka's investment firm, Zeus Holding, fully owns the newly acquired stake in Health.ru, which provides a mobile application aimed at supporting individuals with chronic illnesses through mandatory health insurance policies. The company reports having over 800,000 users.
The acquisition process unfolded in several stages, beginning on September 3, 2026, when Zeus Holding initially took a 37.8% stake. This entry coincided with the exit of several early IT investors, including Sternlib and Vasilyev, each holding 11.04%, along with other shareholders from the Rexoft group.
In subsequent stages, the company increased its authorized capital, resulting in the stake of KF Ventures (Kama Flow) growing to 32.62%, while the shares of other participants were diluted. By the third stage, Klyuka's holding reached 45.24%, with KF Ventures’ share dropping to 17.62%. Other stakeholders include the founder Eric Brovko with a 21.22% share, AUR-Capital with 8.62%, and Health.ru itself with 4.26%.
While the company did not disclose the investment amount, analyst Leonid Delitsyn estimated the company's value at around 650-700 million rubles, with the deal's value ranging from 280 to 315 million rubles. Recent data shows that the overall valuation of the company could vary between 450 and 670 million rubles.
In a statement, Health of the City confirmed that the funds will be directed towards scaling a new B2C model and buying out shares from early minority investors. The company aims to use the funding for AI development and expanding its digital health ecosystem. The strategic partnership not only allows early investors to exit profitably but also positions the company for accelerated growth.
Health.ru serves as a Russian counterpart to Function Health, focusing on personalized health management that integrates medical data and recommendations. The company had primarily worked with international pharmaceutical projects before pivoting to a new consumer-focused model in January 2026, following a challenging macroeconomic environment.
In the first half of 2026, the company tripled its revenue compared to 2025 and reported a positive EBITDA. User engagement has also seen significant growth, with a monthly active audience exceeding 50,000. The firm, which ended 2025 with an 80 million ruble loss, has successfully restructured and adapted its business model to leverage AI technologies.
Klyuka remarked on the potential of Health.ru as a significant player in the personal health sector, emphasizing the need to accelerate scaling and develop AI services while exploring acquisitions that enhance the ecosystem. His transition from pig farming to impact investing illustrates a notable shift in focus towards health and technology, indicating a growing trend of diversification among investors in the healthcare market. This strategic move positions Health.ru favorably against its competitors in the evolving digital health landscape.
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