Money no object, but Haven health venture will be long journey, Buffett says

There's no guarantee that Haven, the joint healthcare venture formed by Berkshire Hathaway, JP Morgan Chase and Amazon last year, will be successful at making healthcare more efficient, Warren Buffet told CNBC in an interview May 6.

"It is going to be a long, tough pull to make major changes," Mr. Buffett told CNBC. "It has no guarantee of success at all, but there's nobody I think that’s in a better position, in terms of number of employees, ability of the people that are partnering to get along and all kinds of things, to perhaps come up with something to make the system more efficient."

The nonprofit health venture set out to tackle rising healthcare costs in the U.S. by improving healthcare for its hundreds of thousands of employees in the U.S.

Mr. Buffet said that Haven has taken the first step of what "is bound to be a very long journey."

He added that the co-founders, including himself, Jeff Bezos and Jamie Dimon, are willing to spend "whatever money it takes," so long as Haven is making progress.

Read the full report here.

 

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