The dissolution of Haven marks one of the most stunning collapses in modern health care history. The venture, led by Amazon, Berkshire Hathaway, and JP Morgan 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.