Amazon, Berkshire Hathaway and JPMorgan Chase will form an independent healthcare company for their combined 1.2 million employees in the United States, the Los Angeles Times reports. Experts believe the move could disrupt the traditional healthcare structure and trigger other private companies to enter the sector.

The three companies provided few details about the new entity, other than saying it would initially focus on technology to provide simplified, high-quality healthcare for their employees and their families, and at a reasonable cost.

They said the initiative, which is in the early planning stages, would be “free from profit-making incentives and constraints.” Jamie Dimon, the chief executive of JPMorgan Chase, said in a statement that the effort could eventually be expanded to benefit all Americans.