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Haven Folds

Haven, the company launched by Amazon, Berkshire Hathaway, and JPMorgan Chase to transform healthcare, is folding, the Wall Street Journal reports.

Haven formed in 2018 with the goal of lowering healthcare costs, according to the Hill. It adds that the company's demise after three years underscores the complexity of the healthcare system in the US and how difficult it is to disrupt it. "The Haven team 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," a Haven spokesperson tells the Journal.

CNBC reports that Haven employees are expected to be placed in positions at Amazon, Berkshire Hathaway, or JPMorgan Chase and that the three plan to individually pursue their healthcare efforts as well as collaborate more informally.

Earlier this year, Atul Gawande, a Harvard University professor and writer for the New Yorker, stepped down as the chief executive of Haven.

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