Amazon, JP Morgan, and Berkshire Healthcare Venture 'Haven' Ends Operations After 3 Years

▲Warren Buffett of Berkshire Hathaway, Jeff Bezos of Amazon, Jamie Dimon of JP Morgan Chase (from left) [Image source=AP Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] Haven, a healthcare venture jointly launched by Amazon, Berkshire Hathaway, and JP Morgan Chase, will cease operations in February, Bloomberg reported on the 4th (local time).

According to the report, Haven informed its 57 employees on the same day that it will shut down operations by the end of February.

Haven was established as a joint venture by these three companies in January 2018, after declaring their intention to reduce healthcare costs and improve employee health management. However, due to a lack of significant achievements, they decided to end operations.

The Wall Street Journal (WSJ) evaluated, "The dismantling of Haven shows how difficult it is to improve the U.S. healthcare system."

Jamie Dimon, CEO of JP Morgan Chase, wrote in a memo to employees, "Haven served its best role as an incubator of ideas," adding, "We will continue informal cooperation to design programs tailored to each company's employees and market needs."

Haven stated, "Amazon, Berkshire Hathaway, and JP Morgan Chase will continue informal collaboration in the healthcare sector."

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