BOSTON (CBS) – The new health care company being formed by Amazon’s Jeff Bezos, billionaire investor Warren Buffett and JPMorgan’s Jamie Dimon will be based in Boston.

The three made the joint announcement Wednesday, saying Dr. Atul Gawande will become the yet-to-be-named company’s Chief Executive Officer, starting July 9. Gawande is a surgeon at Brigham and Women’s Hospital and a staff writer for The New Yorker magazine. He has also written four New York Times bestselling books.

atul Amazon, Buffett, JP Morgan Health Care Company To Be Based In Boston

Atul Gawande. (Photo by Thos Robinson/Getty Images for The New Yorker)

The group says the company will “operate as an independent entity that is free from profit-making incentives and constraints.” They announced the partnership back in January.

warrenbezoshealthcare Amazon, Buffett, JP Morgan Health Care Company To Be Based In Boston

Warren Buffett, Jeff Bezos, and Jamie Dimon (Photo Courtesy: Getty Images- Jamie McCarthy, Alberto E. Rodriguez, Mark Wilson)

“We said at the outset that the degree of difficulty is high and success is going to require an expert’s knowledge, a beginner’s mind, and a long-term orientation,” Bezos said in the statement. “Atul embodies all three, and we’re starting strong as we move forward in this challenging and worthwhile endeavor.”

“I’m thrilled to be named CEO of this healthcare initiative,” Gawande said in the joint statement. “I have devoted my public health career to building scalable solutions for better healthcare delivery that are saving lives, reducing suffering, and eliminating wasteful spending both in the US and across the world. Now I have the backing of these remarkable organizations to pursue this mission with even greater impact for more than a million people, and in doing so incubate better models of care for all. This work will take time but must be done. The system is broken, and better is possible.”

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