Amazon, JP Morgan, Berkshire Hathaway Launch Long-Awaited Firm With the Name Haven

March 7, 2019

The name of the healthcare offspring of Amazon, Berkshire Hathaway, and JPMorgan Chase is finally here.

After more than a year of gestation, the name of the healthcare offspring of Amazon, Berkshire Hathaway, and JPMorgan Chase is finally here.

Haven.

The separate, independent company, plans for which were announced early last year, launched a website Wednesday, and on it, it explained why it chose the name Haven.

“It reflects our goal to be a partner to individuals and families and help them get the care they need, while also working with clinicians and others to make the overall system better for all,” the new firm stated.

It also said that for now, the nonprofit company will benefit employees of the 3 firms, and over time, it will share what it’s found with others. Chiefly, it aims to combine what it called “common-sense fixes” with innovation to make prescription drugs more affordable, improve access to primary care, and simplify the fine-print minutiae of insurance benefits. And, as it said in its original announcement, it wants to use data and technology to improve healthcare overall.

“We will be an ally of anyone who is working to make health care better for patients,” the company said.

The nonprofit status means that Haven “will reinvest any surplus back into our work to improve health outcomes, patient satisfaction, and lower costs for individuals and families,” the company said.

In a letter on the website, chief executive officer (CEO) Atul Gawande, MD, MPH, said that the new firm would be “relentless” in pursuing solutions and noted that it was formed because the 3 founding companies “have been frustrated by the quality, service, and high costs that their employees and families have experienced in the US health system.”

In January 2018, the 3 companies announced in a joint statement that they planned on forming a separate, independent company “free from profit-making incentives and constraints” to tackle the issue of rising healthcare costs for employees and their families.

Haven is headquartered in Boston and also has an office in New York. The board is made up of 3 members of the founding companies—Todd Combs, an investment officer of Berkshire Hathaway; Jamie Dimon, chairman and CEO of JPMorgan Chase; and Beth Galetti, a senior vice president at Amazon—and Gawande.

Gawande was named to the top spot last June.