biotech CEO healthcare Pharma

Corporate Trade Secrets? Amazon’s new executive…

United Health Group is suing its former executive, David Smith, the former VP of Product/Corporate Strategy for Optum Services, for a breach of contract over intellectual property. As the executive jumps from Optum to a new coming rival in healthcare ABC, a non profit healthcare company led by two tycoons Bezos and Warren.

The lawsuit claims that former executive stole documents from Optum’s Corporate Strategy the day he interview at Amazon. Mr. Smith printed corporate strategies the day he was set to interview for ABC. The lawsuit alleges that he was one of few employees that had access to revenue information (talk about leaving with important information).

What we do know is that theft is a problem that many companies are facing in this coming age of data. United Health Group’s and it’s affiliates, is one of the largest healthcare businesses in the world, with an annual revenue of more than $200 billion. Preventing theft and insights is a priority for a company of this magnitude, if it wants to continue to be a world player in healthcare.

Interesting Optum  sees Amazon as a threat, “ABC will very soon be direct competitor, if it is not providing Competitive Services to Optum’s client already” -Optum.

David Smith has denied any wrong doing that he intended to leave with corporate strategies.

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