Amazon, Berkshire Hathaway, and JPMorgan Chase have been quietly working on a joint healthcare venture, which was considered speculation up until late January when a press release confirmed the partnership. Even with an announcement, nothing seemed concrete, as Amazon’s vision for healthcare was vague and intangible. Today, Amazon, Berkshire Hathaway, and JPMorgan Chase have released a few major details about their newly-formed company.
Dr. Atul Gawande was appointed the company’s Chief Executive Officer, effective July 9. According to the press release, “Atul is a globally-renowned surgeon, writer and public health innovator. He practices general and endocrine surgery at Brigham and Women’s Hospital and is Professor at the Harvard T.H. Chan School of Public Health and Harvard Medical School.” Additionally, Atul is a staff writer for The New Yorker magazine and has written four New York Times bestsellers.
The new company, which remains unnamed, is set to be headquartered in Boston. It will function as “an independent entity that is free from profit-making incentives and constraints,” according to today’s release.