An ambitious and somewhat heavily funded joint venture, Haven, by #Amazon Inc., #JPMorganChase, and Berkshire Hathaway is coming to an end, as per a short notice on its website.
#Haven, which aimed at delivering promising healthcare to their employees will be stopping its operations at the end of next month, after being in the sector for three years. The venture had made its first offering in October 2019 with health insurance plans for the employees of Amazon, JP Morgan Chase, and #Berkshire Hathaway.
According to the statement, Haven had explored a wide range of healthcare solutions and paved new ways for accessible primary care, affordable prescription drugs, easy-to-understand insurance benefits. The collaboration was between the largest bank in the U.S., holding company by Warren Buffett, and an online retail giant.
Meanwhile, Amazon has made substantial progress on Amazon Care Program which provides everything from prescription delivery to virtual doctor visits, aligned with what Haven JV offered. After the launch of Haven, Amazon has expanded its healthcare ventures to tap into the sector with its retail business.
With the closing of Haven, there is a major concern with delivery and costs associated with healthcare for the three companies. What lied ahead are new ventures in the best interest of the companies.