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January 4, 2021 05:33 pm

Haven, the Amazon-Berkshire-JPMorgan Venture To Disrupt Healthcare, is Disbanding After 3 Years

Haven, the joint venture formed by three of America's most powerful companies to lower costs and improve outcomes in health care, is disbanding after three years, CNBC has learned exclusively. From a report: The company began informing employees Monday that it will shut down by the end of next month, according to people with direct knowledge of the matter. Many of the Boston-based firm's 57 workers are expected to be placed at Amazon, Berkshire Hathaway or JPMorgan Chase as the firms each individually push forward in their efforts, and the three companies are still expected to collaborate informally on healthcare projects, the people said. The announcement three years ago that the CEOs of Amazon, Berkshire Hathaway and JPMorgan Chase had teamed up to tackle one of the biggest problems facing corporate America -- high and rising costs for employee health care -- sent shock waves throughout the world of medicine. Shares of healthcare companies tumbled on fears about how the combined might of leaders in technology and finance could wring costs out of the system. Brooke Thurston, a spokeswoman for Haven, confirmed the company's plans to close.

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