By: Sebastian Herrera, Jan 8, 2021
Why the Amazon, JPMorgan, Berkshire Venture Collapsed: ‘Health Care Was Too Big a Problem’
Amazon.com Inc., JPMorgan Chase & Co. and Berkshire Hathaway Inc. set out three years ago to join and transform health care. Instead, they struggled to solve even fundamental challenges, such as understanding what some kinds of care actually cost. Haven, the joint venture they set up together in 2018 to use technology and find new ways to reduce costs for their combined 1.5 million employees, will end operations next month. The project cost the three companies roughly $100 million combined, people familiar with its budget said.