Amazon-Berkshire-JPM Health-Care Partnership Folds

Amazon-Berkshire-JPM Health-Care Partnership Folds

In less than three years, a joint health-care venture designed by “the smartest men in the room” – that being the CEOs of Amazon, Berkshire Hathaway, and JPMorgan Chase – that was supposed to disrupt how companies pay for employee care has apparently itself been terminally disrupted.

CNBC has learned exclusively that Haven, which was heralded as the miracle cure for healthcare as a means to lower health care costs for employees, has informed employees Monday that it will shutter operations by the end of next month. 

“Many of the Boston-based firm’s 57 workers are expected to be placed at Amazon, Berkshire Hathaway or JPMorgan Chase as the firms each individually push forward in their efforts, and the three companies are still expected to collaborate informally on healthcare projects,” sources told CNBC. 

Brooke Thurston, a spokeswoman for Haven, confirmed to CNBC of the company’s plan to disband. 

“The Haven team made good progress exploring a wide range of healthcare solutions, as well as piloting new ways to make primary care easier to access, insurance benefits simpler to understand and easier to use, and prescription drugs more affordable,” Thurston said in an email.

“Moving forward, Amazon, Berkshire Hathaway, and JPMorgan Chase & Co. will leverage these insights and continue to collaborate informally to design programs tailored to address the specific needs of our individual employee populations and locations,” she said.

This is a developing story…

Tyler Durden
Mon, 01/04/2021 – 12:51

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