Amazon, Berkshire Hathaway, JPMorgan to form health care company

Amazon, Berkshire Hathaway and JPMorgan Chase & Co. will create an independent company “free from profit-making incentives and constraints” to address health care for their U.S. employees, the organizations announced today. “The initial focus of the new company will be on technology solutions that will provide U.S. employees and their families with simplified, high-quality and transparent health care at a reasonable cost,” the organizations said. “Tackling the enormous challenges of health care and harnessing its full benefits are among the greatest issues facing society today. By bringing together three of the world’s leading organizations into this new and innovative construct, the group hopes to draw on its combined capabilities and resources to take a fresh approach to these critical matters.” The effort initially will be spearheaded by Todd Combs, an investment officer at Berkshire Hathaway; Marvelle Sullivan Berchtold, a managing director for JPMorgan Chase; and Beth Galetti, a senior vice president at Amazon.