The trio will offer services to their US employees

Berkshire Hathaway has joined forces with Amazon and JP Morgan Chase to launch a healthcare company to service their US employees.

According to announcements made today by Berkshire Hathaway, the initiative is ”to address healthcare for their U.S. employees, with the aim of improving employee satisfaction and reducing costs”.

The three firms will create an independent company that is free from profit-making incentives and constraints.The initial focus of the new company wil lbe on technology solutions that provide U.S. employees and their families with ”simplified, high-quality and transparent healthcare at a reasonable cost”.

Berkshire Hathaway Chairman and chief executive Warren Buffett said: “The ballooning costs of healthcare act as a hungry tapeworm on the American economy. Our group does not come to this problem with answers.But we also do not accept it as inevitable. Rather, we share the belief that putting our collective resources behind the country’s best talent can, in time, check the rise in health costs while concurrently enhancing patient satisfaction and outcomes.”