The dissolution of Haven marks one of the most stunning collapses in modern health care history. The venture, led by Amazon, Berkshire Hathaway, and JPMorgan Chase, was heralded immediately as a powerful new player to watch. Its January 2018 launch erased billions of dollars in value from health care companies within seconds. Even before it had a name, the company spawned a trade secrets lawsuit from the rival health care giant Optum.
All that anticipation came crashing down Monday with the news that Haven was shutting its doors, leaving the $3.5 trillion health care industry to ask how it could have failed so spectacularly.
A STAT examination, based on interviews with experts in health care business, finance, and technology, found that Haven’s dissolution is the product of a poorly defined mission, a series of strategic blunders and, in the end, a failure to show measurable progress toward a goal that would rally support for its cause and retain talent on its team.