JPMorgan: to form healthcare company with Amazon, Berkshire

(CercleFinance.com) - E-commerce giant Amazon, Warren Buffett's conglomerate Berkshire Hathaway and investment bank JPMorgan Chase & Co.
said on Tuesday that they will team up to establish a healthcare company for their US employees.

The non-profit making, independent company will focus on technology solutions that will provide simplified healthcare "at a reasonable cost," the three companies said.

"The ballooning costs of healthcare act as a hungry tapeworm on the American economy," said Berkshire Hathaway Chairman and CEO, Warren Buffett.

The longer-term management team, location of headquarters and key operational details have not yet been determined, but the company will be jointly led by three directors from Berkshire Hathaway, JPMorgan Chase and Amazon.

Copyright (c) 2018 CercleFinance.com. All rights reserved.