JPMorgan Chase & Co.’s Morgan Health business, a successor to its failed joint venture with Amazon.com Inc. and Berkshire Hathaway Inc., is backing a health startup trying to slash workers’ out-of-pocket medical expenses.
Morgan Health is investing $30 million in Centivo, a three-year-old Buffalo, New York-based health-plan administrator that says it’s holding members’ average annual out-of-pocket expenses to less than $350. That compares to a national average of about $800.
Morgan Health is JPMorgan’s successor to Haven, a joint venture with Amazon and Berkshire Hathaway that disbanded after failing to produce meaningful change for the companies in ...
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