Wednesday, October 20, 2021
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Amazon to build healthcare company with Warren Buffett and JPMorgan Chase

Amazon healthcare company ;

The health care industry has been on edge over the past year and will boom in coming years with artificial intelligence and Augmeneted reality playing a major role in medical field. Now the e-commerce giant Amazon has shown interest in the sector. On Tuesday, Jeff Bezos’s company perhaps gave industry leaders a reason to worry.

The company announced that it had plans to work with Warren Buffett’s Berkshire Hathaway and JPMorgan Chase to create a new health care company with keeping the aim of “reducing healthcare’s burden on the economy while improving outcomes for employees and their families,” Bezos said in the announcement.

Amazon healthcare company

The three companies said the “initial focus of this newly forming company will be on technology solutions that will provide U.S citizens with simplified, high-quality and transparent healthcare at a very reasonable cost.”

The plan and the goal of company is to provide best healthcare with no motive and that will be “free from profit-making incentives and constraints,” as per the Wall Street Journal. As said by the companies the initiative is in the early planning stages, so there is not much to say about it.

Even without much details the information had an immediate impact on sector leaders as reported by recode ;United Health’s stock was down 7 percent in pre-market trading, while Anthem and Cigna each fell 5 percent.

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