Tech Giants Jump Into Rapidly Growing Healthcare Business : By Derek Baine

A doctor holding a stethoscope with his hand

Google parent Alphabet Inc. and hospital chain HCA Healthcare struck a deal this week to develop algorithms using patient records which could help physicians make more informed decisions about patient care.  They aren’t the only ones to jump into the rapidly growing healthcare space.  JPMorgan Chase is investing $250 million in startups and technologies which are meant to make healthcare more efficient and effective.  Amazon.com and Walmart have also partnered on primary care which will enable them to push their prescription pharmaceuticals business.  The U.S. is projected to spend about $4 trillion on healthcare this year (according to the Centers for Medicare and Medicaid Services). That’s roughly 20% of GDP so it’s no big surprise that these big companies are jumping into this fast growing sector.

https://www.wsj.com/articles/amazon-and-walmart-have-an-rx-for-healthcare-the-cure-wont-be-easy-11622194240

Haven Wanted To Develop Innovative Healthcare Solutions, Is Now Shutting Down

Haven, the company backed by Amazon.com, Berkshire Hathaway and JPMorgan Chase surprisingly started informing employees today that it will shut down by the end of next month.  Many of the company’s 57 workers will be offered new jobs at one of the three founders of the non-profit.  The problem, insiders say, is that rather than working together, the three companies developed their own products on their own.

https://www.cnbc.com/2021/01/04/haven-the-amazon-berkshire-jpmorgan-venture-to-disrupt-healthcare-is-disbanding-after-3-years.html