A corporate dream teams joining forces to try to tackle what billionaire Warren Buffet calls a “hungry tapeworm” feasting on the U.S. economy--health care.
Amazon.com, Buffett’s Berkshire Hathaway Inc. and JPMorgan Chase & Co. said they plan to collaborate on a way to offer health-care services to their U.S. employees more transparently and at a lower cost.
The three companies plan to set up a new independent company “that is free from profit-making incentives and constraints
The companies did not say whether the project would expand beyond Amazon, Berkshire or JP Morgan.
Shares in health care companies took a big hit in early trading Tuesday, hinting at the threat of the new entity to how health care is paid for and delivered in the U.S.
,quality(10),blur(50))