On January 30, Amazon, Berkshire Hathaway, and JPMorgan announced their decision to form an independent health care company for their employees in the United States, hoping to offer more transparency and lower costs.
As a result of the news, many health care stocks, including Express Scripts Holding Co. and CVS Health Corp., in early trading.
“Hard as it might be, reducing health care’s burden on the economy while improving outcomes for employees and their families would be worth the effort,” Amazon Chief Executive Officer Jeff Bezos said in the statement. “Success is going to require talented experts, a beginner’s mind, and a long-term orientation.”
JPMorgan Chase CEO Jamie Dimon said its possible that the initiative expands beyond the three companies in the future. “Our goal is to create solutions that benefit our U.S. employees, their families and, potentially, all Americans,” he said.