The three companies announced plans in January to launch a new company aimed at cutting healthcare costs for their U.S. employees. Although there is no guarantee the new venture will succeed, Mr. Buffet said the new initiative is well positioned to try.
“We want our employees to get better medical care services at lower cost,” he said during Berkshire Hathaway’s shareholder meeting. “We’re certainly going to give it a shot. We’ll see what happens.”
Mr. Buffet said getting a “great” CEO in place is the first major step to launching the healthcare venture, according to Yahoo Finance. Berkshire investment manager Todd Combs is reportedly spending 40 hours per week on the CEO search.
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