JPMorgan to Banking Clients: Joint Health-Care Venture Is No Threat

www.wsj.com

Some health-care companies have complained to JPMorgan Chase & Co. about the bank’s new health-care partnership with Amazon.com Inc. and Berkshire Hathaway Inc., worried that it could cut into their business...Mr. Dimon began making calls from his office atop the bank’s Park Avenue headquarters, these people said. In those conversations, Mr. Dimon told clients the planned health-care initiative is for JPMorgan, Amazon and Berkshire employees only.

Some more hints around what the joint health-care venture looks like. Apparently looks like "a group purchasing organization, a type of setup used by hospitals to buy supplies, so the companies can get better deals for their employees."

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