AI company Olive loses 2 health system clients, selling some assets

Artificial intelligence company Olive is divesting some of its assets, while a couple of health systems are leaving the vendor, a company spokesperson confirmed to Becker's.

The healthcare automation firm is selling its population health and 340B lines, which represent less than 3 percent of its revenue, as they "are no longer aligned with the company's product strategy," the spokesperson said. Meanwhile, two health systems gave notice in August and September that they were ending their contracts with Olive.

The news of the asset sales was first reported Oct. 4 by Axios. The spokesperson refuted claims in the article that the company was divesting 15 to 30 percent of its health system product line to sibling company Rotera and that 10 health systems had ceased doing business with the firm. 

In late September, three top executives departed the company, which laid off 450 staffers in July.

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Whitepapers

Featured Webinars