March 6, 2019 / 9:14 PM / in 20 days

Amazon, Berkshire, JPMorgan healthcare company to be called Haven

FILE PHOTO: The logo of the web service Amazon is pictured in this June 8, 2017 illustration photo. REUTERS/Carlos Jasso/Illustration/File Photo

NEW YORK (Reuters) - Amazon.com Inc, Berkshire Hathaway Inc and JPMorgan Chase & Co on Wednesday said their joint healthcare company would be called Haven and will focus on better primary care access, simpler insurance benefits and more affordable prescription drugs for their employees.

Haven will be tasked with improving healthcare for the three companies’ 1.2 million employees and family members in the United States, but will also share its findings with outsiders, according to its website, launched on Wednesday.

Haven did not say when the changes would be in place for employees.

The three companies announced plans for a new venture in January of 2018, shaking the shares of health insurance companies like UnitedHealth Group Inc and Cigna Corp that manage large corporate benefits on worries that Amazon would disrupt the traditional insurance and drug benefit businesses.

Haven Chief Executive Atul Gawande, who has been running the company since July, said in a news release that the company plans to start small and expand.

Haven said it is “interested in working with clinicians and insurance companies to improve the overall health care system,” according to the website.

Haven is based in Boston and has offices in New York.

Reporting by Caroline Humer; Editing by Bill Berkrot

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