Three years ago Jeff Bezos (Amazon), Jamie Dimon (JPMorgan Chase & Co.) and Warren Buffett (Berkshire Hathaway) formed a joint venture of a new healthcare venture, that some believed could potentially disrupt the US healthcare industry. The company eventually became known as Haven and operated out of Boston with a staff of 57 people.
CNBC first reported the probable shutdown on Monday, citing people directly familiar with the matter. But the network eventually also received a confirmation from a Haven spokesperson confirming the shutdown and who added, “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.”
The Haven project started out with a lot of hope. Three giants in corporate America with a reputation of being able to innovate within their own industries sought out to tackle one of the biggest challenges facing Americans, affordable healthcare. Some hoped this initiative could eventually lead to a wider embrace of small businesses, especially those that fuel much of Amazon’s success in online commerce through its marketplace platform.
Unfortunately, it appears the complexity of the US healthcare system coupled with each company executing healthcare programs individually for its employees, effectively killed the need for an official collaboration CNBC sources said.
Many of the 57 employees that work at the Boston-based office of Haven are thought to be moving to positions within the three companies and all three companies are expected to continue to collaborate informally on health-care projects.
“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,” the Haven spokesperson said.
But for small business owners, this chapter of hope that Jeff Bezos and his two partners could reform American healthcare is over. Haven’s website today confirms the end of the company as well.