Why the Amazon-JPMorgan-Berkshire Hathaway Healthcare Joint Venture Is Ending In the Middle of a Pandemic

Not surprisingly, to anyone who has dealt with Amazon, it turned out the company was pursuing its own vision using some of the ideas the joint venture had generated. 

Even the very rich dont always pay attention. JL

Darrell Etherington reports in Tech Crunch:

A nebulous, but high-profile and heavily-moneyed joint venture is coming to an end: Haven, the JV created by Amazon, Berkshire Hathaway and JPMorgan Chase, is being “disbanded” three years after its formation. One of the main reasons is that each partner in the venture was pursuing their own very different strategic approach healthcare challenges, meaning their really wasn’t much joint in the joint venture.

A somewhat nebulous, but high-profile and potentially heavily-moneyed joint venture is coming to an end: Haven, the JV created by Amazon, Berkshire Hathaway and JPMorgan Chase, is being “disbanded” according to CNBC, three years after its original formation. One of the main reasons is that each partner in the venture was apparently just pursuing their own very different strategic approach to their respective healthcare challenges, meaning their really wasn’t much joint in the joint venture to begin with.

In a statement provided to CNBC, a Haven spokesperson highlighted some of the good results that came out of the partnership over the years, however, including improving access to primary care, and making insurance benefits packages easier to grasp for employees. Meanwhile, Amazon has made lots of progress on its own with its Amazon Care program, which is its internal healthcare program for employees at its Washington state facilities.

Amazon Care includes provision of both virtual and in-person primary care doctor visits, and prescription delivery. The company is also reported to be considering expansion of this service to other businesses, which signal its intent to turn it into a real business with aims very much in line with what the Haven JV had originally taken as its guiding light.

To be honest, the original announcement about the JV’s founding was light on details and seemed like one of those things that comes together when very rich people talk about their shared problems over a casual afternoon hang at the club with caviar and mineral water distilled from pristine arctic ice or whatever they enjoy during their repasts, so it’s not all that surprising it didn’t materialize into anything more substantial.