The health care venture was formed by Amazon, conglomerate Berkshire Hathaway and banking titan JPMorgan Chase.
Haven -- a company formed to handle health care for the hundreds of thousands of US workers at retail giant Amazon , conglomerate Berkshire Hathaway and banking titan JPMorgan Chase -- will shut down at the end of February.
"Moving forward, Amazon, Berkshire Hathaway, and JPMorgan Chase & Co. will leverage these insights and continue to collaborate informally to design programs tailored to address the specific needs of their own employee populations," reads a message posted to the Haven website on Monday.
Haven spokesperson Brooke Thurston confirmed the company would cease operations at the end of February, adding that the company "made good progress exploring a wide range of healthcare solutions, as well as piloting new ways to make primary care easier to access, insurance benefits simpler to understand and easier to use, and prescription drugs more affordable."
The decision, which was earlier reported by CNBC, brings an end to the health care venture that was launched in 2018. Its aim was to reduce costs and provide simplified health care to workers with the help of technology, and be "free from profit-making incentives and constraints," the trio of companies said when they announced Haven. The company hasn't been Amazon's only bet in the world of health care. In November, the retail giant launched Amazon Pharmacy, its own online pharmacy for Prime Members.
Many of Haven's employees are expected to be placed at Amazon, Berkshire Hathaway or JPMorgan Chase, reported CNBC.
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