Amazon.com, Berkshire Hathaway and JPMorgan Chase & Co are teaming up in a new venture aimed at lowering healthcare costs for their US employees.
The companies announced a plan on Monday to create an independent firm "free from profit-making incentives and constraints" that will initially focus on technology solutions to provide employees and their families with healthcare "at a reasonable cost".
The plan, currently in early stages, will be jointly spearheaded by Todd Combs, an investment officer of Berkshire Hathaway, Marvelle Sullivan Berchtold, a managing director at JPMorgan Chase, and Beth Galetti, a senior vice president at Amazon.
The longer-term management team, headquarters location and key operational details will be communicated in due course, the companies said.
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