ARTICLE | Company News
Amazon, Berkshire, JPM healthcare deal rocks incumbents
January 31, 2018 1:01 AM UTC
Leading managed care organizations (MCOs), drug distributors and retailers lost more than $32 billion combined in market cap Tuesday on the news that Amazon.com Inc. (NASDAQ:AMZN), Berkshire Hathaway Inc. (NYSE:BRK-A; NYSE:BRK-B) and JPMorgan Chase & Co. (NYSE:JPM) are forming a healthcare company focused on reducing costs for their employees.
The partners said their new independent company will be "free from profit-making incentives and constraints" and will focus on "technology solutions" to provide employees and their families with "simplified, high-quality and transparent healthcare at a reasonable cost."...