JPMorgan Chase Buys InstaMed for
JPMorgan Chase & Co plans to acquire InstaMed, a U.S. healthcare technology company that specializes in healthcare payments. The acquisition will expand the bank’s suite of payment services designed specifically for healthcare consumers, providers, and payers. InstaMed’s secure, centralized platform alleviates a number of challenges in the healthcare payments industry, with particular focus on eliminating paper, improving the consumer financial experience, and reducing costs to collect payments.
J.P. Morgan is paying about $500 million for InstaMed.
“We’ve made significant investments
in our Wholesale Payments business over the years and this acquisition
will give us a unique advantage in one of the fastest growing sectors.
With InstaMed, we combine the strength and scale of JPMorgan Chase’s
payments capabilities with a leading healthcare payments solution for
consumers, providers and payers,” said Takis Georgakopoulos, Global Head
of Wholesale Payments, JPMorgan Chase. “The InstaMed team is passionate
about delivering an excellent client experience with a focus on
innovation, keeping data safe and secure, and simplifying the end-to-end
healthcare payments process – a natural fit with our Wholesale Payments