Berkshire, Amazon and JPMorgan to shut healthcare joint venture

Haven, a joint venture of Amazon, Berkshire Hathaway, and JPMorgan Chase, is ending its independent operations at the end of February.

The Boston-based company was created in 2018 with the aim to lower costs and improve healthcare options in the US.

The three founding companies had promised that the organisation would be free from profit-making incentives and constraints, initially focusing on the 1.2 million employees and families affiliated with Amazon, Berkshire Hathaway, and JPMorgan Chase across the US.

Haven said on January 5 that the three companies would in future "collaborate informally to design programmes tailored to address the specific needs of their own employee populations".

"In the past three years, Haven explored a wide range of healthcare solutions, as well as piloted new ways to make primary care easier to access, insurance benefits simpler to understand and easier to use, and prescription drugs more affordable," the statement said.