Jan 30, 2018

Amazon joins up with US firms to enter healthcare sector

Amazon, JP Morgan and Berkshire Hathaway are joining forces to create a healthcare firm aimed at cutting costs for their US employees. The announcement sparked fears that tech giant Amazon could disrupt the healthcare sector in the same way that it has the retail sector. The firms are the three largest private employers in the US, collectively employing over 500,000 staff. Initially, the company's formation will be headed by Todd Combs, an investment officer of Berkshire Hathaway; Marvelle Sullivan Berchtold, a managing director of JPMorgan Chase; and Beth Galetti, a senior vice president at Amazon. "The healthcare system is complex, and we enter into this challenge open-eyed about the degree of difficulty," said Amazon founder and chief executive Jeff Bezos.

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