JPMorgan Chase & Co.’s Morgan Health business, a successor to its failed joint venture with Amazon.com and Berkshire Hathaway, is backing a health startup trying to slash workers’ out-of-pocket medical expenses, Bloomberg reports.
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. Read more.
