Amazon, JP Morgan and Warren Buffett’s Berkshire Hathaway are launching an independent healthcare company for their US employees.
The business giants announced the plan on Tuesday in a joint statement where Buffett described their shared desire to tackle the ‘hungry tapeworm’ of current US healthcare models.
It will begin with their own employees – close to one million in the US – but the trio has clear hopes for the model to eventually be available to the entire country.
‘Our goal is to create solutions that benefit our US employees, their families and, potentially, all Americans,’ Jamie Dimon, the President and CEO of JPMorgan Chase, said.
Amazon’s interest in disrupting the sector. On Tuesday, Jeff Bezos’s company perhaps gave industry leaders a reason to worry.
The e-commerce giant announced plans to work with Warren Buffett’s Berkshire Hathaway and JPMorgan Chase to create a new healthcare company with the aim of “reducing healthcare’s burden on the economy while improving outcomes for employees and their families,” Bezos said in the announcement.
The three companies said the “initial focus of the new company will be on technology solutions that will provide U.S. employees and their families with simplified, high-quality and transparent healthcare at a reasonable cost.”