Amazon, Berkshire and JPMorgan Pick CEO for New Health-Care Company
June 20 2018 - 10:49AM
Dow Jones News
By Aisha Al-Muslim
Amazon.com Inc., Berkshire Hathaway Inc. and JPMorgan Chase
& Co. have appointed surgeon Atul Gawande as chief executive of
their newly formed partnership to address U.S. employee
health-care.
The appointment of Dr. Gawande, a globally-renowned surgeon,
best-selling author and public health researcher, is effective July
9, the companies said Wednesday. The new company will be based in
Boston.
Dr. Gawande practices general and endocrine surgery at Brigham
and Women's Hospital in Boston and is a professor at the Harvard
T.H. Chan School of Public Health and Harvard Medical School. He is
founding executive director of the health systems innovation
center, Ariadne Labs, and a staff writer at The New Yorker
magazine.
In January, the three companies announced they teamed up to
figure out how to reduce health-care costs for their hundreds of
thousands of U.S. employees. The companies said the entity would
operate independently and be free from profit-making incentives and
constraints.
In February, The Wall Street Journal reported some health-care
companies had complained to JPMorgan about the bank's involvement
in the health-care partnership, worried that it could cut into
their business. JPMorgan CEO James Dimon got involved personally,
speaking with some health-care executives to allay fears that the
bank would become their rival, the Journal reported, citing people
familiar with the matter.
The three companies together have more than a million employees,
though not all of them work in the U.S.
Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com
(END) Dow Jones Newswires
June 20, 2018 10:34 ET (14:34 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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