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October 31, 2023
Olive AI sells remaining assets to Waystar, Humata Health
Summary
Once valued at $4 billion, Olive AI has sold its remaining assets and is ceasing operations. Its software product and business were sold to Waystar and Humata Health respectively. CEO Sean Lane downsized 665 personnel due to strategic errors and economic difficulties. Olive's focus on revenue cycle management and utilization management led to selling product lines to Rotera and Availity. Olive AI's collapse follows similar instances with 'unicorns' Pear Therapeutics and Babylon.
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