Olive is set to acquire Verata Health, a health care AI company. Olive announced the acquisition of Verata Health to solve prior authorizations for providers and payers via artificial intelligence as a combined solution under the Olive name.
More than 60 Verata employees will join the Olive team following the acquisition, bringing Olive's total employee count to approximately 500. Olive's senior executive team will continue to grow as well:
- Lori Jones, Chief Revenue Officer, will retain her title and will also take on the role of President, Provider Market
- Jeremy Friese, Chief Executive Officer at Verata, will join Olive as President, Payer Market
- YiDing Yu, Chief Medical Officer at Verata, will become Olive's Chief Medical Officer
The acquisition follows Olive's recent $225.5 million financing round to bolster the company's R&D war chest and drive the growth of Olive's AI workforce for providers and payers.
Recently, Olive also announced Olive Helps: a new AI platform that delivers targeted information to health care workers to enable better, faster results while reducing the time spent on administrative tasks.