- Amazon is looking to join forces with Berkshire Hathaway and JP Morgan Chase
- The firms say they want to reduce costs by starting an independent company
- Amazon CEO Jeff Bezoz admits healthcare is complex, but they are aware of this
Amazon CEO Jeff Bezoz (pictured) admits healthcare is complex but he and his partners are aware of this
Shares in US healthcare companies took a beating after Amazon revealed yesterday a long-expected move into the industry.
The internet shopping giant said it would join forces with investment empire Berkshire Hathaway and JP Morgan Chase, America’s biggest bank, to offer healthcare to employees.
The firms, led by Wall Street titans Jeff Bezos, Warren Buffett and Jamie Dimon respectively, said they wanted to reduce costs by starting an independent company.
It would begin offering services to their staff but could later expand to ‘all Americans’.
Bezos admitted the healthcare system is complex, but ‘we enter into this challenge open-eyed about the degree of difficulty’, he said.
Buffett, 87, added: ‘The ballooning costs of healthcare acts as a hungry tapeworm on the American economy.’
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