Amazon, JPMorgan, Berkshire creating new health care company

This Sept. 6, 2012, file photo, shows the Amazon logo in Santa Monica, Calif. (AP Photo/Reed Saxon, File)

SEATTLE (AP) — Amazon, Warren Buffett’s Berkshire Hathaway and the New York bank JPMorgan Chase are teaming up to create health care company “free from profit-making incentives and constraints.”

Buffett, in a prepared statement Tuesday, called the skyrocketing costs of health care in the U.S. the “hungry tapeworm on the American economy.”

The ambitious goal, they say, is in the early planning stages, but the seismic nature of the announcement sent a shockwave through the health industry.

Shares of health care companies are falling in early trading. provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review. Note: Comments containing links are not allowed.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s