The company had raised $848 million in venture capital since its 2013 founding, Columbus Business First reported Oct. 31.
In the transaction, Waystar is acquiring the company’s clearinghouse and patient access business units.
Humata acquired Olive AI’s prior authorization business unit, according to an Oct. 31 notice posted on the company’s website.
The news comes after Waystar filed for a proposed initial public offering.
The company said that it has already reached out to its healthcare customers about its shutdown. The financial terms of the sale were not disclosed. In 2021, the company raised $400 million to hit a $4 billion valuation.
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