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posted by Fnord666 on Tuesday January 30 2018, @06:38PM   Printer-friendly
from the one-stop-shop dept.

Amazon, Berkshire Hathaway and JPMorgan Team Up to Disrupt Health Care

Amazon, Berkshire Hathaway and JPMorgan Chase announced on Tuesday that they would form an independent health care company to serve their employees in the United States. The three companies provided few details about the new entity, other than saying it would initially focus on technology to provide simplified, high-quality health care for their employees and their families, and at a reasonable cost. They said the initiative, which is in the early planning stages, would be a long-term effort "free from profit-making incentives and constraints."

The partnership brings together three of the country's most influential companies to try to improve a system that other companies have tried and failed to change: Amazon, the largest online retailer in the world; Berkshire Hathaway, the holding company led by the billionaire investor Warren E. Buffett; and JPMorgan Chase, the largest bank in the United States by assets.

Various health insurance and pharmacy companies were hit by the news:

The move sent shares of health-care stocks falling in early trading. Express Scripts Holding Co. and CVS Health Corp., which manage pharmacy benefits, slumped 6.7 percent and 5.5 percent, respectively. Health insurers Cigna Corp. and Anthem Inc. also dropped. The health-care industry has been nervously eyeing the prospect of competition from Amazon for months. While the new company created by Amazon, Berkshire and JPMorgan would be for their U.S. staff only, this is the first big move by Amazon into the industry. The new collaboration could pressure profits for middlemen in the U.S. health-care supply chain.

Related: $54 Billion Anthem-Cigna Health Insurer Merger Rejected by U.S. Judge
CVS Attempting $66 Billion Acquistion of Health Insurer Aetna


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  • (Score: 2) by Gaaark on Tuesday January 30 2018, @08:08PM (3 children)

    by Gaaark (41) on Tuesday January 30 2018, @08:08PM (#630566) Journal

    Canada??

    Love Canada.

    Love it.

    Jeph Jacques moved to Canada.
    http://questionablecontent.net/view.php?comic=3666# [questionablecontent.net]
    So WE could pay for his physical problems.

    Americans seeing Canada as a GOOD place to live.

    God bless Canada.

    --
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  • (Score: 2) by Zinho on Tuesday January 30 2018, @08:23PM (2 children)

    by Zinho (759) on Tuesday January 30 2018, @08:23PM (#630575)

    Is that the link you intended? It doesn't appear to match your post...

    --
    "Space Exploration is not endless circles in low earth orbit." -Buzz Aldrin
    • (Score: 2) by Zinho on Tuesday January 30 2018, @08:29PM (1 child)

      by Zinho (759) on Tuesday January 30 2018, @08:29PM (#630580)

      Never mind, I figured it out. It took me a bit to realize that the Jeph Jacques was the author of the comic you linked.

      "about" page from the comic [questionablecontent.net]

      --
      "Space Exploration is not endless circles in low earth orbit." -Buzz Aldrin
      • (Score: 3, Funny) by Gaaark on Tuesday January 30 2018, @10:23PM

        by Gaaark (41) on Tuesday January 30 2018, @10:23PM (#630671) Journal

        Yeah, laziness hit hard. I was going to lin

        --
        --- Please remind me if I haven't been civil to you: I'm channeling MDC. ---Gaaark 2.0 ---