Skip to main content

Amazon, Berkshire Hathaway and JPMorgan create healthcare company

Amazon.com, Inc., Berkshire Hathaway and JPMorgan Chase & Co. announced to collaborate on health care for their employees with the aim of improving employee satisfaction and reducing costs. All three companies bring complementary expertise in long-term business through independent, incentive-free companies and profit constraints.

"The healthcare system is complicated and we get into this challenge with a wide-eyed view of the difficulty level of reducing the health burden on the economy while improving the yields for employees and their families to make it worth the effort," said Amazon founder and CEO Jeff Bezos.

Tinuku Amazon, Berkshire Hathaway and JPMorgan create healthcare company

The initial focus of this new company is a technology solution that will provide employees and their families with simplified, high quality and transparent health care for a reasonable fee. The unification of the three organizations is expected to take a new approach to these critical issues.

"The cost of swelling in health care as a parasite in the American economy. We did not address this issue with the answers, but we also did not accept it as inevitable," said Berkshire Hathaway CEO Warren Buffett.

"We share the belief that putting our collective resources behind the country's best talent in time can examine the rising health costs while simultaneously increasing patient satisfaction," Buffett said.

The effort announced today is the initial planning phase with the company's initial formation pioneered by Todd Combs as Berkshire Hathaway's investment chief, Marvelle Sullivan Berchtold as Managing Director of JPMorgan Chase, and Beth Galetti as Senior Vice President of Amazon. Long-term management team, head office location and key operational details will be communicated in due time.

Comments

Popular posts

European Union and ASEAN to restart Free Trade Agreement

Tinuku - European Union (EU) and ASEAN have agreed to restart the process of forming Free Trade Agreement (FTA). Singapore Prime Minister Lee Hsien Loong as ASEAN coordinator for EU-ASEAN relations said on Saturday to build a framework to identify potential sectors to finalize the deal.

Lee also said the EU and ASEAN had agreed to restart the process of establishing a free trade agreement between the two blocs. The EU and ASEAN launched talks towards a pact in 2007 but ignored the process two years later as the EU voted to negotiate bilaterally with each country.


"As coordinators, we look forward to forming a framework to identify where areas where we have the potential to make a deal," Lee said.

"Working on a deal may take longer than the end of the year. But if we can identify where the big opportunities are, our trade-offs, then I hope we will have better success," Lee said.

"One of the things we expect is that European nations are able to manage their soci…

Rolls-Royce plans for flying taxi service

Tinuku - Rolls-Royce Holdings plc has designed a propulsion system for flying taxi and is starting search for partners to help develop a project it hopes could take to the skies as soon as early next decade. British jet engine maker said on Sunday it had drawn up plans for an electric vertical take-off and landing (EVTOL) vehicle which could carry to five people at speeds of up 250 mph for approximately 500 miles.

The company joins a variety of companies racing to develop flying taxis, which could revolutionize the way people travel. Aviation and technology leaders are working to make electric-powered flying taxis a reality, including Airbus, U.S. ride- sharing firm Uber and a range of start-ups including one backed by Google co-founder Larry Page, called Kitty Hawk.


Rolls-Royce’s design will be showcased in digital form at the Farnborough Airshow, which starts on Monday. The company is looking for an airframer and a partner to provide aspects of the electrical system to help commerci…

Britain announced its first launch site for the space market

Tinuku - UK on Monday ran an important leap for the construction of the first vertical launch space launch site. The proposed space port at Sutherland in the north of Scotland has been awarded US$3.3 million in funding by the government-owned UK Space Agency to develop a ground-breaking launch site.

Government Business Secretary Greg Clark Monday launched the start of a Great British Space Age that will see vertically-launched space rockets and satellites take off from the new spaceport. UK Space Agency said it selected the Sutherland site because Scotland is the best place in Britain to reach highly sought-after satellite orbits with vertically launched rockets.


The initial funding will go to Scotland's Highlands and Islands Enterprise agency to develop the Sutherland site which will use a combination of proven and innovative rocket technologies to pave the way for a world-leading spaceflight market.

The UK Space Agency is also making available a new 2.65 million U.S. dollar fund…

Psychoengine studio build Honda GL 200 single-cylinder engine turns into Five Dragons 5-cylinder

Tinuku ~ Studio Psycoengine based in Purwokerto, Indonesia, building works Honda Tiger with a 5-cylinder rotary. Custom motorcycle entitled "Five Dragons" by M Yusuf Adib Mustofa emerged as the Best of the Best Kustomfest 2016 Legend Reborn.