The much-anticipated healthcare venture between Berkshire Hathaway, Amazon and JPMorgan Chase has its inaugural CEO, but he or she has not yet been revealed.
However, one top candidate has confirmed it's not him.
Berkshire Hathaway CEO Warren Buffett and JPMorgan CEO Jamie Dimon said June 7 that the three companies have decided who will lead their healthcare partnership, and the healthcare chief executive will be announced within two weeks.
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“We have an outstanding individual—character, culture, capability, heart, mind, the whole thing,” Dimon said on CNBC.
David Feinberg, CEO of the Geisinger Health System, has been a frequently mentioned pick and is currently advising the group. However, Feinberg said last week that he is staying in his current role.
"I appreciate being part of the conversation, which I believe reflects the accomplishments of the entire Geisinger team," he told CNBC. "I personally remain 100% committed to Geisinger and remain excited about the work we are doing."
The companies have released few details on the partnership but say it will focus on employee satisfaction and ensure that healthcare services are better and cheaper. How that will be accomplished, however, has not been specified.
Healthcare experts are also skeptical that the companies, while successful in the financial realm, could fix the major problems plaguing the healthcare industry.
Andy Slavitt, former acting administrator of the Centers for Medicare & Medicaid Services, was also previously cited as a possibility, but he too has made it clear he will not be leading the venture.
In an annual survey from venture capital firm Venrock, out of about 400 healthcare professionals, employers, and investors, 73% said the partnership was going to take much longer than expected and face many obstacles. Additionally, about 25% said the companies “have no idea what they’re getting into.”
Such doubt from the industry might have pressured the companies to choose a leader with a strong healthcare background.