Amazon, Berkshire Hathaway, JPMorgan to Partner on Health Care
January 30 2018 - 8:04AM
Dow Jones News
By Cara Lombardo
Amazon.com Inc, Berkshire Hathaway and JPMorgan Chase & Co.
are forming a company to figure out how to reduce health-care costs
for their hundreds of thousands of U.S. employees, the three
companies said Tuesday.
"The ballooning costs of health care act as a hungry tapeworm on
the American economy," Berkshire Chief Executive Warren Buffett
said in prepared remarks. "Our group does not come to this problem
with answers. But we also do not accept it as inevitable."
The new company will focus on technological solutions that can
provide simplified and transparent health care for the three
companies U.S. employees at a lower cost.
Todd Combs, an investment officer at Berkshire Hathaway,
Marvelle Sullivan Berchtold, a managing director of JPMorgan and
Beth Galetti, a senior vice president at Amazon, are overseeing the
company's formation.
A longer-term management team, headquarters location and
operational details of the new company will be announced later, the
companies said.
Write to Cara Lombardo at cara.lombardo@wsj.com
(END) Dow Jones Newswires
January 30, 2018 07:49 ET (12:49 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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