Amazon-Berkshire-JPMorgan Venture Haven is Already Shutting Down

After only three years, Haven, the venture formed by Amazon, JPMorgan Chase, and Berkshire Hathaway is already disbanding.

According to a CNBC report, the company told employees on Monday that it would be shutting down by the end of February said people close to the situation.

Many of the 57 workers at the company are expected to be placed at Amazon, Berkshire, or JPMorgan.

Sources have said that the companies are still expected to informally collaborate on health-care projects.

Haven was created in 2018 with the goal of helping provide better health care services and insurance at a lower cost to workers and families at these three leading American firms — and potentially to other US companies as well.

It was in 2020 that Berkshire CEO Warren Buffett said that there were was no guarantee that Haven would succeed in improving health care.

One thing that may have led to Haven breaking apart is that while the firm had ideas, each of the three founding companies were executing their own projects with their own employees. There seemed to be no need for a joint venture said unidentified sources.
Last May Haven’s CEO, Dr. Atul Gawande had stepped down from day-to-day management of the nonprofit.

Brooke Thurston, a spokeswoman for Haven has stated: The Haven team made good progress exploring a wide range of healthcare solutions, as well as piloting new ways to make primary care easier to access, insurance benefits simpler to understand and easier to use, and prescription drugs more affordable.’

She added, “Moving forward, Amazon, Berkshire Hathaway, and JPMorgan Chase & Co. will leverage these insights and continue to collaborate informally to design programs tailored to address the specific needs of our individual employee populations and locations.”

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.