A health-care venture launched with great fanfare by three of the world’s most prominent companies— Amazon.com Inc., Berkshire Hathaway Inc. and JPMorgan Chase JPM -0.94% & Co.—and their chief executives is folding about three years after its founding.
Haven Health, sparked by an idea from JPMorgan Chief Executive Jamie Dimon and supported by Amazon’s AMZN -2.16% Jeff Bezos and Berkshire’s Warren Buffett, sought to “transform health care” and reduce costs for hundreds of thousands of workers at the three companies by pooling resources and technology.
The joint venture, which was announced in 2018 with expectations high enough to push down major insurers’ shares, will cease operations in February without having achieved those aims.
Source: WSJ
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