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The fallout continues for Olive AI, the Columbus-based health tech startup that is shedding top talent amid reports the company overpromises benefits to clients, Erin Brodwin writes for Axios Pro.

It has lost another 20+ of its top employees, less than a month after more than 20 high-level staff departures.

Why it matters: The news threatens the company's status as the highest-profile startup in health care automation.

Olive has championed a $4 billion valuation and an all-star investor list, but now faces turnover on top of a hiring freeze.

What they're saying: Current and former employees believe the company is dealing with internal culture problems while underdelivering on its promise to save health systems money using automation software.

"Things are imploding," one current employee tells Axios.

Subscribe at AxiosPro.com to read more about this story and other scoops in the Axios Pro Health Tech Deals newsletter.

Local health tech startup Olive sheds more top talent

The Columbus-based company is on a hiring freeze.

Health care startups

<p>The fallout continues for Olive AI, the Columbus-based health tech startup that is shedding top talent amid reports the company overpromises benefits to clients, <a class="gtmContentClick" data-vars-link-text="Erin Brodwin writes for Axios Pro" data-vars-click-url="https://www.axios.com/pro/health-tech-deals/2022/06/03/olive-loses-more-execs-leaders-employees" data-vars-content-id="7fdf2246-8564-4bc4-9d29-bb298a896cdb" data-vars-headline="Local health tech startup Olive sheds more top talent" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/pro/health-tech-deals/2022/06/03/olive-loses-more-execs-leaders-employees" target="_self">Erin Brodwin writes for Axios Pro</a>.</p><ul><li>It has lost another 20+ of its top employees, less than a month after more than 20 high-level <a class="gtmContentClick" data-vars-link-text="staff departures" data-vars-click-url="https://www.axios.com/pro/health-tech-deals/2022/05/05/olive-sees-high-level-staff-departures" data-vars-content-id="7fdf2246-8564-4bc4-9d29-bb298a896cdb" data-vars-headline="Local health tech startup Olive sheds more top talent" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/pro/health-tech-deals/2022/05/05/olive-sees-high-level-staff-departures" target="_self">staff departures</a>.</li></ul>

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Olive AI is a buzzy local startup that promises to save health systems millions of dollars by using automation software to cut costs and direct more time toward patient care.

But an investigation by Axios' Erin Brodwin finds Olive inflates its capabilities and has generated only a fraction of the savings it promises.

Why it matters: The Columbus-based company is valued at $4 billion, making it the highest-profile startup in health care automation. 

It raised $400M last year, the largest venture capital investment in the city in 2021, according to Pitchbook.

State of play: Interviews with 16 people, including former and current employees and health tech executives, indicate concerns with the company's tech offerings, tracking of client savings and handling of sensitive patient data.

What they're saying: "There are hospitals that won't touch [Olive] because they know people who've been burned," one former employee told Axios. "And I think people don't want to admit it; there's a big sense of shame about it."

The latest: On Monday, Olive announced plans to move its headquarters from downtown to Worthington and pledged to add hundreds of jobs to its 1,400-employee workforce over the next 10 years.

Worthington City Council approved an incentive package Monday worth at least $1.3 million that offers the company a payroll grant for the new employees, on top of an existing tax abatement on the building it plans to buy at at 6700 North High Street. 

Subscribe at AxiosPro.com to read this story and more scoops in the Axios Pro Health Tech Deals newsletter.

Local health tech startup Olive overpromises

The company employs 1,400 people and is based in Central Ohio.

Illustration of the Olive logo as a gas gauge on empty.

<p>Olive AI is a buzzy local startup that promises to save health systems millions of dollars by using automation software to cut costs and direct more time toward patient care.</p><ul><li>But an investigation by <a class="gtmContentClick" data-vars-link-text="Axios&#x27; Erin Brodwin" data-vars-click-url="https://www.axios.com/pro/health-tech-deals/2022/04/05/4-billion-health-tech-startup-olive-overpromises-and-underdelivers" data-vars-content-id="ffbd0ab2-22f4-4a51-9e9d-555ef19348d2" data-vars-headline="Local health tech startup Olive overpromises" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/pro/health-tech-deals/2022/04/05/4-billion-health-tech-startup-olive-overpromises-and-underdelivers" target="_self">Axios&#x27; Erin Brodwin</a> finds Olive inflates its capabilities and has generated only a fraction of the savings it promises.</li></ul>

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Featured stories

Telehealth enabler OpenLoop makes a news splash amid lawsuits

Teladoc faces pressures following post-pandemic decline

OpenEvidence debuts coding tool as race for dominant medical AI company heats up

To assess AI in health care, study the human-machine team

Qualified Health's raise comes in at $125M