Amazon-Berkshire Hathaway-JPMorgan name joint venture Haven

Modern Healthcare, March 06, 2019 05:23 PM


Amazon, Berkshire Hathaway and JPMorgan Chase’s year-old and highly touted joint venture will be called Haven.

The venture’s newly launched website reveals few details about the widely anticipated, not-for-profit entity. The three parent companies said in January that they would leverage their combined scale and expertise to develop technology solutions to provide employees and their families “simplified, high-quality and transparent healthcare at a reasonable cost.”

Haven CEO Dr. Atul Gawande said in a statement that the company wants “to change the way people experience healthcare so that it is simpler, better, and lower cost.”

Together, Amazon, Berkshire and JPMorgan have more than 1.2 million employees and families.

“The good news is the best results are not the most complicated or expensive. The right care in the right place is often more effective and less costly than what we get today,” Gawande said.

Some observers have said Haven could be a disruptive force that will drive widespread change throughout the industry. The venture has ruffled feathers and even sparked a noncompete lawsuit against a former employee of UnitedHealth Group-owned Optum. But a federal judge in Boston refused to prevent David Smith from working for the entity, despite the claims about trade secrets.