Haven, Amazon-Berkshire-JPMorgan’s well being disruption firm, is disbanding after three years
Jeff Bezos, Warren Buffett and Jamie Dimon.
Haven, the joint venture of three of America’s most powerful health care companies to cut costs and improve outcomes, is being disbanded after three years, CNBC has exclusively learned.
The company began informing employees on Monday that it will close by the end of next month, according to people with direct knowledge of the matter.
Many of the Boston-based company’s 57 employees are expected to be hired at Amazon, Berkshire Hathaway, or JPMorgan Chase as the companies advance their efforts individually, and the three companies are expected to continue to work informally on health projects.
The announcement three years ago that the CEOs of Amazon, Berkshire Hathaway and JPMorgan Chase had teamed up to address one of the American company’s biggest problems – high and rising health care costs – sparked shock waves across the medical world out. Health care company stocks fell on fears that the combined power of technology and financial leaders could pull costs out of the system.
The move to Shutter Haven could be a sign of how difficult it is to radically improve American health care, a complex and ingrained system of doctors, insurers, drug makers, and middle men that makes the country $ 3.5 trillion each year costs. Last year, Berkshire CEO Warren Buffett seemed to make that clear. This is no guarantee that Haven can improve health care.
A key problem for Haven was that while the company was coming up with ideas, each of the three founding companies ran their own projects separately with their own employees, so the joint venture was not initially required, so respondents can be identified when talking about the matter speaks.
Just three years after the initial onslaught of fanfare over the possibilities Haven could achieve, its closure has been a disappointment for some. However, insiders claim that it will allow the founding companies to implement ideas from the project themselves and tailor it to the specific needs of their employees, who mainly focus on different cities.
The move came after Haven’s CEO Dr. Atul Gawande, who stepped down from the running of the nonprofit company in May. This step sparked a search for his successor.
Brooke Thurston, a spokeswoman for Haven, confirmed the company’s plans to shut down, making the following statement:
“”The Haven team has made good progress researching a wide range of healthcare solutions and exploring new ways to make basic care easier to access, make insurance benefits easier to understand and use, and to make prescription drugs more affordable, “Thurston said in an E -Mail .
“Going forward, Amazon, Berkshire Hathaway and JPMorgan Chase & Co. will leverage these findings and continue to work informally together to develop programs that are tailored to the specific needs of our individual employee populations and locations,” she said.