High-profile health-care venture backed by Amazon, JPMorgan and Berkshire Hathaway shutters – The Washington Post

“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 their own employee populations,” the company wrote. “Haven will end its independent operations at the end of February 2021.”

The Boston-based company has 57 employees.

It’s a stark shift from the ambitious announcement of the group’s creation three years ago by Amazon’s Jeff Bezos, JPMorgan’s Jamie Dimon and Berkshire’s Warren Buffett. (Bezos owns The Washington Post.)

“The ballooning costs of healthcare act as a hungry tapeworm on the American economy,” Buffett said in a statement at the time. “Our group does not come to this problem with answers. But we also do not accept it as inevitable.”

Haven demonstrated plenty of ambition when it debuted in 2018. At the time, the three prominent executives put their names behind the effort, garnering massive media coverage for their efforts to address one of the most intractable challenges in corporate America. Reducing costs was a primary objective.

“Our nation’s health-care costs are essentially twice as much per person versus most other developed nations,” Dimon said at the time.

The company
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