A joint healthcare venture “Haven”, which debuted in the year 2018 and constituted together by Amazon, JPMorgan Chase, and Berkshire Hathaway is set to shut down in February 2021. It was created with the purpose of addressing one of the most negligent issues in America – rising healthcare costs. The company which started in a press release by the three business titans three years ago with great fanfare, never really got off the ground with steady leadership and included many executives who came and left after short periods. Dr. Atul Gawande, one of the primary hires, stepped down as CEO after a short time but stayed on the board.

On its website, the healthcare venture Haven announced, “In the past three years, Haven explored a wide range of healthcare solutions, as well as piloted new ways to make primary care easier to access, insurance benefits simpler to understand and easier to use, and prescription drugs more affordable. 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.”

CNBC confirmed that Haven started “informing staff on Monday that it will shut down” and “many of the 57 employees of the Boston-based company are expected to be placed at Amazon, Berkshire Hathaway or JPMorgan Chase as the companies each individually push forward in their efforts,” the network said, citing “people with direct knowledge of the matter.”

JPMorgan refused to say how much it spent on Haven, except to mention that spokesman Joseph Evangelisti said via email that the costs were “immaterial.” Dimon vowed to expand on Haven’s successes in a letter to staff, even if he didn’t directly outline them. Amazon spokeswoman Jaci Anderson refused to reveal the amount spent on the start-up by the company but said it was satisfied with the investment. Representatives for Berkshire didn’t comment right away. As Haven spokeswoman Brooke Thurston said Monday, the three supporters will “continue to collaborate informally” on health care initiatives. 

Meanwhile, for years now, rival supermarket giant Walmart has been forming alliances with providers of medical care. And CVS Health and Walgreens Boots Partnership drugstore chains have launched many pilots, experiments, and services for their clients and staff with health insurers and providers.