The healthcare-related partnership between three renowned entities — Amazon, J.P. Morgan and Berkshire Hathaway — is encountering some challenges when it comes to finding a leader, according to CNBC.
First announced in late January, the project will initially focus on tech solutions that will help the three companies’ U.S. employees and their families with healthcare.
When Investment Rhymes with Canada
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
Since then, the initiative has been the talk of the town. While some remain skeptical, others believe it has the potential to transform the U.S. health innovation landscape.
On top of the multitude of opinions about it, the new entity has been on the hunt for a CEO since January. Prospective candidates have been interviewed by phone and in Omaha, Nebraska (where Berkshire is headquartered) and New York City (where JPM is based), people familiar with the matter told CNBC.
Initial possibilities included ex-Aetna executive Gary Loveman, former CMS administrator Andy Slavitt and former U.S. CTO Todd Park. Grand Rounds cofounder and CEO Owen Tripp’s name has also been tossed in as the three companies have shifted to looking for someone with an entrepreneurial background.
However, in a statement to CNBC, Tripp said he plans to stick to his position at Grand Rounds.
“To the extent we can be part of their solution as their mission sharpens, we’d be glad to pitch in — just as we would assist any organization that wants to improve clinical outcomes,” he said, according to the report.
Part of the difficulty of finding a leader likely stems from the new entity itself. The CEO will have to work across three companies that have a combined 1.2 million employees. Plus, the project is structured as a company “free from profit-making incentives and constraints,” according to the initial news release. But as CNBC pointed out, it’s not necessarily a nonprofit.
Still, Berkshire CEO Warren Buffett seems optimistic about nailing down an executive. At his company’s annual shareholder meeting earlier this month, he said he believes the organizations will “have a CEO within a couple months,” according to Reuters.
Photo: Jirsak, Getty Images
