New Hire Hints At Important Role Technology Will Play In Amazon-JPMorgan-Berkshire Health Initiative
Perhaps the biggest takeaway from Jack Stoddard’s hiring is that the new venture created by Amazon, Berkshire Hathaway, and JPMorgan Chase is serious about using technology to create efficiencies in care and cut health care costs.
What Jack Stoddard Brings To The Atul Gawande-Led Health Venture
The hiring of Jack Stoddard brings a veteran business mind into the effort to shake up the U.S. health care system by Amazon, Berkshire Hathaway, and JPMorgan Chase — an entrepreneur with a track record of using digital tools to change the way services are delivered to patients while saving money. Stoddard, the Boston-based venture’s new chief operating officer, has worked in health care for 25 years, spending much of that time building companies focused on using data and technology to guide patients to the most appropriate and cost-effective care. Most recently, he led the reshaping of health benefits at Comcast Corp. (Ross, 9/7)
In other industry news —
Cigna Sells $20 Billion In This Year's Second-Biggest Bond Sale
Cigna Corp. sold $20 billion of bonds to fund its takeover of Express Scripts Holding Co., making for the U.S. corporate-bond market’s second-biggest of the year. The health insurer issued senior unsecured bonds in 10 parts, according to a person with knowledge of the matter. The longest portion of the offering, a $3 billion security maturing in 2048, yields 1.87 percentage points above Treasuries, after initially discussing around 2.05 percentage points, said the person, who asked not to be identified because talks with potential investors are private. (Smith, 9/6)